TLDR
This proposal is to establish a treasury committee with autonomy to act on behalf of the DAO’s best interests. This includes constraints on 25% of the current treasury balance.
Details
We are continuing to grow the DAO through new hires, working groups, and grants. In order to have continued success and growth, it is vital that Rarible DAO practices treasury management. Currently the treasury is primarily RARI tokens. A strong and autonomous treasury will allow us to withstand any sudden changes in the market and prolonged periods of volatility. Our goal is to preserve and grow assets while attracting new talent and teams regardless of market conditions. We will look to achieve our goals by adopting a risk averse strategy and bolstering our treasury through diversification. We will not make any changes to 25% of the current balance without further approvals from the DAO. We will consider new strategies that will offer flexibility, liquidity, and security. We are intent on ensuring the DAO has sufficient runway in case of a downturn or another cryptowinter. Due to the nature of treasury, some transactions are time sensitive and require initial privacy. Having a treasury committee will also allow us to respond quickly to market conditions.
Team
Treasury functions are currently handled by Alex Salnikov, Eric Arsenault, and Noah Kramer. We will look to expanded the team as needed.
Accountability
We will be transparent around how funds are used by providing monthly reports that outline our current holdings.
Members of the Treasury committee will continue to be active participants in governance and community calls.
Why should Rarible DAO approve this?
We need to be thoughtful about how we manage our assets. Having an established committee with autonomy will allow us to continue building our protocol regardless of market conditions.