Finance Team
- Finance Team
- Purpose
- How to get in touch
- Team Members
- Projects
- Prize Distributions
- Deliverables
- Resources
- Treasury Working Group Safes
- Prize Team Safes
- Meeting Notes
Purpose
The Finance team focusses on DAO sustainability and transparency
- Monitor and implement changes to prize distributions with the purpose of growing the protocol sustainably
- Ensure safety and prudence go into every decision
- Drive future protocol growth
- Identify sustainable solutions
- Present objective data to the community
Team Members
- underthesea (Lead)
- BRONDER (Communications)
- Open Role (Accountant)
- Open Role (Prize Analyst)
- Open Role (Temporary Consultant)
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- Regisisland
- Mkkoll
- Gabor
- drcpu
- underthesea
- Torgin
- Llama Seat (BraveNewDeFi + Yuan)
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- BraveNewDeFi
- Bronder
- DaBoom
- drcpu
- LlamaDAO Seat (Yuan)
- TheRealTuna
- underthesea
Projects
Projects
| Projects | Owner |
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Prize Team Dashboards | Dylan DesRosier |
Prize Distributions
Deliverables
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Core Duties
- Quarterly review of DAO inflows/outflows. We’ll be adding this to our core duties, as members understand it’s not only imperative that we reduce any subsidy from the treasury where possible, but the DAO needs to strive for financial health in every aspect. By provider a quarterly review of inflows and outflows, we can provide an objective basis for the DAO to discuss our community’s runway and financial health.
- Analyze protocol-owned liquidity (POL) options, performance. Currently, POOL holdings in the treasury represent almost 60% of the DAO’s treasury. Because POOL is such a major component of our treasury, an increase in liquidity will help the DAO to reduce price volatility by allowing for larger trades, less slippage, and less volatility for our community’s most important asset. As the prize network grows to new scaling solutions and L2s, the TWG is aware that we need a robust strategy to ensure POOL liquidity is optimized and readily available, if we continue to provide POOL incentives and expand the token’s utility in the future. Regular analysis and review of PoolTogether’s POL strategy will become another added core duty of the TWG.
- Regular reviews of /recommendations for prize tiering, simulation. Throughout the last two quarter, TWG members have taken the initiative to provide prize simulations for a variety of options and used this data to inform the community on the most efficient prize tiering structure to reduce the subsidy from the treasury, while promoting growth in deposits. This core duty was added during the TWG’s second operational quarter and will remain an important deliverable for members to fulfil each quarter.
- Asset management analysis, options. The PoolTogether treasury consists of a variety of stablecoin and non-stablecoin assets. Each quarter, the TWG will evaluate how the DAO can potentially deploy a portion of these assets to earn and/or increase non-operating revenue to offset any operational expenses.
- Identifying potential yield sources, assessing risk. Compound and Aave have served as the main sources of yield between v3 and v4, respectively. As the protocol matures and new yield sources can be added, the DAO needs to ensure any potential yield source falls within the general risk framework PoolTogether has been adhering to since launch. PoolTogether offers people a fun way to save, with safe, reliable yields. The TWG will help identify possible yield sources, provide analysis on how they operate, and document the potential benefits/risks of adding new yield sources to the prize pool network. This sort of analysis will be serve as a jumping off point for discussion within the DAO.
Q3 | High Level Deliverables
- Analyze, review prize pool network once testnet is live. The proposed new tokenomics and mechanics have been discussed at length in Discord and on the forum. Once the testnet goes live, TWG members will use demo the prototype and provide a review on the forum with our conclusions and findings.
- Work with DAO working groups, participants to identify areas for growth. The TWG can collaborate with other DAO working groups to help with payment structures, modeling, and other aspects that involve expenditures from the treasury. The goal is to optimize for growth while balancing outflows with inflows. It’s the goal of the TWG to identify areas where we can assist other working groups to increase deposits within the protocol.
- Identify existing infrastructure we can use to create product bounties to drive growth in revenue. The development team has created some incredibly powerful primitives within PoolTogether. By proposing new bounties and using the bounty program to attract talent from within the DAO, the TWG can help identify potential products or opportunities for growth to increase DAO operating revenue.
- Participate in PoolTogether DAOs purpose discussion to align TWG’s mission, values with DAO. Members realize that our working group is one of many to be established within PoolTogether. If our community is to succeed, all contributors need to align on mission and values. This will ensure everyone within PoolTogether is working toward the same long-terms goals while adhering to the values that make our community strong.
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- Exploring protocol-owned liquidity solutions (POL): We’ll fast track an evaluation of the Ondo <> Fei LaaS program and provide further analysis on PTIP-61 2 and PTIP-64 1. Any liquidity solutions proposed through governance will also be reviewed (e.g., a proposal to deploy liquidity on Polygon).
- Identify new yield sources: While this deliverable is somewhat outside the scope of the TWG, we believe this is one of the most important changes that the protocol can make to reduce the growth required to reach breakeven or profitability. By presenting options to the community, we can begin a discussion around finding yield sources that provide higher returns, while ensuring they adhere to our security guidelines. We’ll coordinate with @brendan on this deliverable to ensure we take development resources into consideration when proposing any yield sources on the forum.
- Prize tiering, simulation: This deliverable will become a core duty of the TWG. Our members have participated in every discussion surrounding prize tiering in the last quarter, and the community supported the outcomes advocated for by the TWG members. Since prize tiering is currently dependent on USDC held within the treasury, it will be important for the TWG to provide analysis for the community to make informed decisions when evaluating changes to prizes.
- Non-stablecoin asset management: In our first quarter, we presented options for stablecoin asset management, but we have several other assets within the treasury that we can allocate to productive strategies, liquidate to increase our stablecoin holdings, and/or stake to earn additional rewards. We’ll explore this further to evaluate ways we can turn more treasury assets into productive assets to further offset operational costs.
- Evaluating TRIBE Turbo 5: Later this month, Tribe DAO’s TRIBE Turbo program will go live. This program could provide a way for the protocol to use POOL holdings to generate non-operating revenue. Once the full details of the program are announced, the TWG will review and present our findings to the community.
- Leveraging TWAB for Growth: Once the TWAB contract is live, the treasury can use some of the PTaUSDC deposited as sponsorship capital in V4 to delegate the chance to win and potentially drive growth in depositors. We will likely coordinate with members of the MWG if we are able to pursue this deliverable in our second quarter. Identifying ways to drive growth using existing treasury assets will be another core area of focus.
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- Fast track analysis of Fei Protocol to understand how the PCV and bonding curve are used to maintain FEI’s peg; review Fei Protocol’s use of oracles; and review existing FEI liquidity on Uniswap V2. This analysis should provide the community with greater insight to FEI’s stability, use or oracles, and the depth of liquidity within Uniswap V2 before $1.5m in POOL is deployed in a variable rate position on Ondo Finance.
- Analyse the use of stablecoin assets within the treasury to accelerate growth on PoolTogether V4. Currently, there is 3,773,686.58 ScUSDC deposited in V3, which can better serve the protocol elsewhere. Since stablecoins play a vital role in the growth of V4, the TWG can research ways to leverage V4 functionality to further incentive deposits using stablecoin assets/reserves 1 in the treasury.
- Pursue a listing for V4 tickets as collateral on reputable lending platforms and evaluate ways to increase the composability of PoolTogether deposits.
- Review the efficacy of the Olympus Pro bond sale and any subsequent proposals passed to increase liquidity without using POOL liquidity mining incentives. As the protocol pursues more DeFi 2.0 approaches, it will be vital to measure their impact and value delivered to the protocol.
Resources
Prizes Team
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[Coming soon]
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- Prize Adjustment #3
- PTIP-66: Prize Adjustment #3
- PTIP-67 Move 400k PTaUSDC to Prize Reserves
- RFC: Prize Liquidity
- Prize Adjustment #3
- RFC: Protocol Deployed Liquidity On Polygon Uniswap V3
- Treasury Assets Management #2 (Non-stablecoin assets)
- RFC: Renewing pPOOL and POOL/ETH LP Uni V2 Rewards
- Roll-up deployment - Temperature check
- POOL to incentivize saving
- The Prize Pool Network | TheRealTuna
- The Prize Pool Network | BRONDER
- The Prize Pool Network | BraveNewDeFi
- PTIP-66: Prize Adjustment #3
- PTIP-67 Move 400k PTaUSDC to Prize Reserves
- PTIP-56: Transitions | TWG Response
- PTIP-68: OTC Settlement for Ondo <> Fei LaaS Program
- PTIP-69 Polygon Uniswap V3 WETH/POOL Liquidity
- PTIP-70 Uniswap V2 POOL rewards renewal
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Other Commentary/Analysis
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Treasury Working Group Safes
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Address: 0x8F8e905Cd8b7b0e435e1030BE250970Bf8c9ab8B
Signers
- BraveNewDeFi—0x06223c0093fc9fc872c8968bf13a15ae18f2484f
- underthesea—0x93146d9978d286EE085ba68eE1786a0b6EDA64EC
- drcpu—0xC734011dBd90677eb42C0F93827665F0ddaed46F
- therealtuna—0xa31c2232842e631cCb2d2E4110B356Bab21E6020
- BRONDER—0x3bc1158e5bcE8c10e5DA0EdFBB94b261eec46A76
- DaBoom—0x08C7cBC0ad61d556613e708Dc7af2d5F108a2C90
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Address: 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1
Signers
- BraveNewDeFi—0x06223C0093Fc9FC872C8968BF13a15AE18f2484f
- BRONDER—0x3bc1158e5bcE8c10e5DA0EdFBB94b261eec46A76
- underthesea—0x93146d9978d286EE085ba68eE1786a0b6EDA64EC
- drcpu—0xC734011dBd90677eb42C0F93827665F0ddaed46F
- TheRealTuna —0xa31c2232842e631cCb2d2E4110B356Bab21E6020
- DaBoom—0x08C7cBC0ad61d556613e708Dc7af2d5F108a2C90
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Address: 0x8dDbE54e438914F0bEab634AF15336291B520fA2
Signers
- BraveNewDeFi—0x06223C0093Fc9FC872C8968BF13a15AE18f2484f
- BRONDER—0x3bc1158e5bcE8c10e5DA0EdFBB94b261eec46A76
- underthesea—0x93146d9978d286EE085ba68eE1786a0b6EDA64EC
- drcpu—0xC734011dBd90677eb42C0F93827665F0ddaed46F
- TheRealTuna —0xa31c2232842e631cCb2d2E4110B356Bab21E6020
- DaBoom—0x08C7cBC0ad61d556613e708Dc7af2d5F108a2C90
Prize Team Safes
- Prizes Team Ethereum Safe (0xB87b4E170A8Ec9Ee0faDD451c15e1D04df535855)
- Prizes Team Polygon Safe (0x5bC3D2d94751211A1b7Dec1848EA3664DAF0b194)
- Prizes Team Optimism Safe (0x2AA9c535101554d1B48B911625030Cbc53c8fBcF)
- Prizes Team Avalanche Safe (0x49Bf8d9B1a535D6f7ddb7F94762282249530ecDa)
Meeting Notes
| Name | Team | Participants | Type | Created | Created By | Date | Last Edited Time |
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