Great move, I suggest we give the treasury team some power and authority to do it in a timely manor. We approved this process for MetaCartel 2 months ago and due to market fluctuations we lost about 30% of our budget capacity 
6 Likes
This is a great initiative. Really love the mission to diversify treasury into stable coins + think it’s a good approach to discovering and executing the idea. Saw a post from LLama and thought I’d jump in to see how things progress. Cheers!
1 Like
A treasury diversification team that can, as @Yalor also mentioned above, quickly adapt to market conditions would be something really needed.
Right now this DAO does not seem to have anything like that. What’s more to do anything with the treasury a public discussion and a public vote seems to need to happen which could put us at a huge disadvantage if a trade is involved.
$150/hr
This is the only thing that just seems bit odd to me. As a European this look like a very high hourly compensation.
6 Likes
I really applaud this proposal coming forth, as its hugely necessary for the longevity of the DAO. I’m coming in from Hedgey Finance, where we create tools specifically targeted towards helping DAOs diversify their treasury in responsible and transparent ways that benefit both the DAO and the community. I would be happy to sit on the diversification team, or even just advise from the side (but no need for compensation), and create a cohesive strategy utilizing various tools I’m familiar with and have used in advising other DAOs on diversification programs. Pre web3 I was a sr treasury manager at WeWork for 5+ years dealing with this sort of FX exposure & cash flow diversification on a daily basis, and trying to bring traditional corp finance & treasury to the web3 world.
2 Likes
hey @HelloShreyas - as usual, nice work on the thoughtful proposal and love all the work you and the team do. UMA community and I would be happy to help anywhere we can especially in the design of an instrument for diversification. I think you are familiar with success tokens. This would be a good way to raise funds. Essentially sell GTC with a lock-up and no discount, but in return reward the holder a call option. This would properly align incentives and ensure cooperation with the strategic partners. Contracts are all audited and our DAO products such as KPI options have been used by many DeFi projects. The Gitcoin treasury just needs to decide the parameters and we can deploy.
Also, I would be happy to share our experiences diversifying and managing our treasury. We were fortunate, but did make some good decisions over the last year and a half and have almost $50MM of non-UMA assets accumulated.
3 Likes
Thanks for your support and feedback, @lefterisjp. Re. compensation - we think $150/hr is reasonable compensation in DeFi to attract strong people to serve in this working group. It is hard to find comparables that are apples-to-apples, but grants programs such as Uniswap Grants and Aave Grants pays members $150/hr.
@DisruptionJoe and @krrisis - thanks for your nomination of @ChrisDean, would be great to have him on board. Chris - can you confirm your interest?
2 Likes
a pleasure, I agree to distribute the funds, I think it is a rule of large companies not to have all their money in one place, and looking at the issue of cryptos there are old currencies which hardly change in value, but always we will be subject to the volatility caused by some news or companies with other currencies.
I would gladly support the work team
1 Like
Appreciate the thoughtfulness of this proposal and excited to see this move forward.
I would love the opportunity to be a part of this Working Group.
In Q3 and Q4 of 2021, I contributed to Gitcoin’s Public Goods Funding workstream, helping to raise funds for GR12 and find ecosystem partners. Additionally, I have been a Core Contributor at Forefront since May 2021 and helped lead the DAO’s Treasury Diversification process. Finally, my work at Syndicate Protocol has given me the opportunity to support and advise on the treasury raises and allocations of a variety of new DAOs, helping navigate many common roadblocks.
Thanks again to @HelloShreyas and the Llama team for the proposal!
2 Likes
Glad you’re interested, @jihad! You’ve added a ton of value to Gitcoin already and Forefront’s treasury diversification is a model I have in mind for Gitcoin.
1 Like
This is an invaluable proposal to long term health and sustainability of the DAO. I would love to participate. A bit of details about me:
involvement in the Gitcoin community - I am currently Gitcoin Holdings COO, but I have resigned (effective Jan 31, 2022) and plan to work full time in the DAO starting Feb 1. I have worked to spin Gitcoin out of Consensys, fund raise, support our DAO launch, and now move full time to a contributor in the DAO.
pertinent knowledge on treasury diversification / strategic partners / DAOs - I have observed a number of other DAO diversifications and bring lots of learning from Gitcoin’s initial fund raise to capitalize the company ahead of the spin out from Consensys.
valuable experience across crypto and non-crypto roles that may be applicable - Well, I hold a forgotten rune wizard, and a few moonshot bots 
In my non-crypto world I was a product lead at Twitter for a number of years, and have been in the tech space for a while.
7 Likes
Celebrating this finally being out in the wild and the diversification process getting underway asap. Echo @lefterisjp & @Yalor’s points re process and perhaps we need to discuss this @HelloShreyas re one of the TD working group being included in the steward forum…
1 Like
Gm,
Thank you for posting this thoughtful proposal @HelloShreyas !
I’ve been chatting with Stewards about the matter in DMs, so I’m excited it has become a proposal. (Here’s an example of a stable+governance coin strategy I shared with them in December used by SeedClub, found at audio position 3:40 Goodbye bosses, hello voting and crypto pay: A new kind of company is taking hold | WBUR News .)
I would like to be part of this WG.
-
I’m a KERNEL Fellow KB3 and and I’ve been a community member of Gitcoin since August 2021 in various WGs (mostly Public Goods Library).
-
I’m the (LEETH certified) Chair of LexDAO’s “Performing Rights DAO” project that will draft Ethereum metadata standards “backwards compatible” with DDEX. And I’ll likely be able to access LexDAO’s expertise about treasury diversification if I’m included in this WG (potentially save on legal fees? At least get a second opinion).
-
I’m the Liaison for the Pluriverse/Multiverse DAO that RaidGuild is building for Gitcoin and, if all goes well, I might have to deal with this issue there as well.
-
I’m a “test subject” in that I’m still living month-to-month like many of the contributors most affected by volatility; here’s when I was a test subject in the past, to help explore apartment renting solutions for Web3 contributors https://twitter.com/owocki/status/1459300439422222336 .
-
I’m helping prepare for https://schellingpoint.gitcoin.co , and secured a $10k sponsorship from nfDAO. Additionally, over 50% of the proceeds from the 3D statue https://cheerbot.org 's I’m auctioning at Schelling Point will go to public goods, made possible by grants from nfDAO, dGrants and Schelling Point.
-
I’m a graduate of New Ventures BC’s Venture Accelerator Program, have a background in corporate music publishing, a JD from Western Law, a BBA in music management from Belmont University, hold a patent in a novel software architecture (“Hierarchical Script Database and Database Applications”), created a new kind of software syntax (see https://ape.mirror.zyz ) and discovered multiple mathematical facts including recursive/fractal tilings of the Euclidean plane (e.g. PythagMetal - Alchemy ) and Fibonacci-like integer sequences (e.g. A328604 - OEIS ).
If I am not able to join this WG, I hope that I can in the least be an observer in order to apply what I learn to Gitcoin’s Pluriverse/Metaverse DAO.
Thank you for your time and consideration,
Kyle
4 Likes
Actually, @HelloShreyas you are in the top 5 delegated to so you will be included in the forum.
1 Like
Hi Shreyas, I am interested and am hoping we can sync up to discuss. Thank you for your nomination @DisruptionJoe!
4 Likes
*her 
(Chrisdean = Christine)
1 Like
Shreyes
Operationalizing this will be key to it’s success. Per @Yalor concern, I agree the team must be agile. The big question is “how do we mesh trust and reputation of the participants who action the funds allocation decisions with the expertise and degeneracy of those who best know what to do?”
Here are some ideas:
Separate the operations from the subject matter experts
The subject matter experts should be one step away from full degen, but are in the process of getting green pilled. Maybe offer payment as a percentage of their effect on the treasury rather than hourly. The working group may include 2 from CSDO and 3-5 SME.
Have CSDO control the multisig used for execution
When the working group makes a decision, the CSDO can execute it. Why? Because these are all workstream leads with history an reputation with Gitcoin. Plus, they are almost constantly available. They are some of the most active people in the DAO.
Get great risk managers/portfolio managers on the SME working group
Separating the operations from the decisions can allow for better checks and balances. It will let the SME group do what they do best without needing to administer anything. Take a lesson from traditional finance and have the operations executed separately.
I am worried that we might select people who are enthusiastic, successful in other lines of work, and potentially great people for the DAO, but shouldn’t be in this working group unless they have a track record of great trades, proper risk management, and are web 3 native.
6 Likes
I encourage the idea of including observers, in part as an educational/onboarding way to take advantage of enthusiasm vs. expertise in the long-run. Another way to look at it is institutional knowledge risk management.
I am worried that we might select people who are enthusiastic, successful in other lines of work, and potentially great people for the DAO, but shouldn’t be in this working group unless they have a track record of great trades, proper risk management, and are web 3 native.
2 Likes
Christine would be a great fit for this indeed 
She is our spreadsheet master and commander.
PS. “she” 
1 Like