TL;DR:
Contribution:
Here is my application for the Treasury Committee on behalf of myself (bernard) and the web3 Studios team (w3s).
Key goals for Treasury Committee:
- Define mandate for the Treasury Committee - to make an informed decision on the focus of Yield Hunting vs. Yield Research vs. other focus.
- Set up the Yield Strategy - to unlock economic opportunities for the treasury holdings.
- Support Asset Management and Risk - to fuel protocol growth and reduce exposure against adverse market conditions.
- Establish Financial Reporting Standards - to establish transparency for DAO members and act as decision-making support.
- Community Activity - to facilitate and contribute to community discussions around DeFi risks assessment
Background:
- Prior working for McKinsey’s Digital Practice. Quit to go crypto full-time.
- Part of web3 Studios (w3s) - a team of DeFi/TradFi contributors (ex-Blackstone, JP Morgan, DeFi) to support DAOs in strategic finance topics (M&A, Fundraising, Treasury Mgmt).
- While I would hold the committee role, we would contribute as web3 Studios for some deliverables to maximize impact, e.g., working on the yield strategy or creating financial reports for the DAO.
- Steering committee at McKinsey-DAO (global community of former McKinsey employees incl. several top web3 founders).
Key contribution areas:
- Portfolio Construction: Working with a team of DeFi/TradFi contributors who will support in setting up a differentiated strategy for the Gro Treasury.
- Risk Assessment: Set up a risk management framework to guide portfolio construction and provide transparency of current exposure for DAO.
- Financial Reporting and Analysis: Create financial reports assessing key financial metrics for DAO members to understand, incl. cash flow statements, balance sheets, income statements, budgeting / forecast expenses
- Community Activity: Facilitate and contribute to community discussions around DeFi risks assessment.
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Below are some of my thoughts on topics I’d like to bring to the committee:
Overarching Goals for GRO’s Treasury Committee
Pre-requisite: 1. Treasury Mgmt System:
Design and implement an efficient and robust treasury management system. A fundamental part of this will be the question of what the Treasury Committee mandate should look like from a strategic perspective.
Supporting @chriswong suggestion to form a small yield-research task force / working group to enable outcome-driven work and performance tracking, rather than pure-decision making. And second @exa256.eth view on extend the scope of that group slightly. In our view, the Gro DAO could benefit from increased structure and transparency when it comes to its financial situation. I.e., we would include Financial Reporting and Risk Assessment as key areas for the group to work on.
Our ideal proposed set-up for this would be a 4-5 people team with one person filling the facilitator role. This person should wear two hats - understand the mechanics of the treasury task force in-depth and have the overview of what info is crucial for other DAO members to know at what time. Happy to discuss the ideal set-up in more depth.
2. Yield Strategy Research/ Treasury Unlock:
Unlocking the Gro Treasury to grow the protocol and its ecosystem. This includes researching and the development of different yield strategies. For this different DeFi products need to be continuously analyzed and communicated to the DAO in a comprehensive manner.
3. Asset Management and Risk
Allocating Treasury assets into selected yield strategies and managing these allocations. This includes the evaluation of liquidity needs for core business operations, as well as the continuous evaluation of risk exposure of managed assets.
4. Financial Analysis and Reporting:
Creating standards for financial reporting and delivering periodic financial reports. The reports will be transparently disclosed to the Gro DAO and give its members financial data that will support decision-making going forward. This is achieved by enabling the community, as well as external parties with interest in the Gro protocol to evaluate the following materials:
- Cash Flow Statement
- Balance Sheet
- Income Statement
- Budgeting / Forecasting Expenses
Super excited by the movement on this front, and happy to discuss this in more depth!