RFC: FiSt Pod 2nd Term Proposal

# Proposal Structure - Finance and Strategy Pod

  1. Executive summary
  2. Recap on the journey and learnings
  3. FiSt Pod mandate and focus areas
  4. Composition
  5. Budget
  6. Voting
  7. Guiding principles
  8. Reporting
  9. Submission and next steps

# (1) Executive summary:

This proposal is for Gro DAO to fund the continuation of the Finance and Strategy (FiSt) Pod, following its successful completion of an initial term.

The Pod achieved OKRs of the first cycle (>80% achievement for remaining workstreams), managed to work successfully with an external contributor (@Levi - experienced in on-chain Finance and Risk) to substitute two offboarded contributors, and subsequently achieved 100% of OKRs of the second cycle.

The FiSt Pod now seeks a total of 60k USDC + 40k $GRO for the next 6-month term, during which we’ll continue bolstering Gro DAO’s strategy and finance functions. The current term will end with a surplus of 33k USDC, i.e., a transfer of 27k USDC from the DAO treasury is asked.

There will be two voting options:

  1. extending the FiSt Pod’s term for another six months
  2. rejecting the proposal

After a 6-day window for comments, we’ll open the proposal to voting for 5 days. We believe our streamlined Pod is now more than ready to help drive the future of Gro DAO.

# (2) Re-cap on the journey and learnings:

Entering the Pod structure of Gro DAO was an exploratory journey for us and we quickly iterated to identify effective and ineffective practices. Our collective learning over the past 6 months has significantly enhanced the efficacy of the FiSt Pod.


  • Beginning with three co-facilitators, each independently leading their workstreams in Finance, Strategy, and Risk.
  • Addressing the fallout from two contributors leaving the Pod due to different reasons (capacity constraints & different work delivery expectations) and quickly filling the gaps in their wake.
  • Achieving >80% of OKRs of remaining workstreams in cycle 1 and creating a highly effective Pod setup for the next 6 months.
  • Achieving 100% of OKRs in cycle 2.


We are proud of the milestones we’ve accomplished across the three workstreams, despite the challenges we encountered. Find highlight deliverables below and more details in the monthly reports here.

# Transparency:

  • Transparency Report of Gro DAO

# Product Strategy:

  • Product Ideation Support and Customer interviews with 19 different stakeholders
  • Research Support in Market, Competitor and Product Analyses
  • Specific Analytical tasks, e.g., monetization model, market sizing, ideation scorecard, problem-solution trees, etc.

# Risk Management:

  • Launch Readiness Checks for G^2
  • Formalization of Risk and Rebalancing Framework for G^2
  • Operational Security Recommendations
  • Emergency Situation Support, e.g., USDC de-peg

# Strategic Finance:

  • Treasury Management Framework, incl. Principles & Objectives, Risk management*
  • Treasury Operating Model, incl. Governance*
  • Cash Flow Analysis and Financial Flow Mapping*
  • Financial Report*

*marked for deliverables in final stage.

Offboarding of 2 contributors:

  • The Pod navigated the challenge of the offboarding of two of its three initial contributors (Exa and pvl in Strategic Finance and Risk, respectively).
  • We managed to fulfill all OKRs of the remaining workstream and efficiently replaced the departing contributors with taking over the most essential tasks in Finance and Risk to maintain the robustness of the Pod.
  • To achieve this, we onboarded a new external contributor within 1 month - who has fast become an integral part of the DAO - and shifted out-of-capacity tasks over to Panda/ Groda with the help of the People Pod.


  • Importance of work styles and timezone alignment: Different work preferences and limited overlap in online hours initially hindered coordination in the beginning. We’ve since worked together with an external contributor (Levi) who shared the same timezone and work style, easing this problem.
  • Need for clear responsibilities: Independent facilitation of workstreams caused confusion, especially for cross-Pod interactions. We found that assigning a single lead per Pod (now Bernard) to handle these interactions is a more efficient approach.
  • Significance of cross-Pod collaboration: Our experience in collaborating with the Groda Pod and People Pod - where we have work packages that we steer together - emphasized the need for clear ownership and delegated tasks. The improved setup has Groda define a clear product lead, with the FiSt Pod assisting with execution and product exploration.

# (3) FiSt Pod mandate and focus areas:

Our proposal outlines the continuation of the FiSt Pod with an emphasis on Finance and Product Strategy. Our ultimate goal is to secure the long-term survival of the Gro DAO by setting up a sustainable finance function, supporting the implementation of new business units, and providing clear communication to our members.

Clear focus for this term is on:

  1. Lean Treasury Management
  2. Supporting the Groda Pod in Product Strategy, esp. discovery
  3. Lean operational coverage of Ad-hoc Rebalancing tasks in Risk and Treasury

Therefore the FiSt Pod’s mission lies in its four distinct focus areas:

1. Treasury Management

We are responsible for managing treasury allocations and aim to provide transparency and financial decision support to the DAO members.

  • Treasury Allocation Recommendations: Selecting a diversified range of assets that prioritise capital preservation, satisfy liquidity needs, and align with the objectives of the GroDAO Treasury.
  • Treasury Management Rebalancing: Being the first touchpoint to execute rebalancing actions related to Gro’s Treasury
  • Strategy Whitelist Sourcing: Researching protocols, evaluating risk parameters, monitoring GroDAO’s whitelisted strategies, and executing rebalancing actions within the Treasury management framework on a quarterly basis.

2. Product Strategy

Our goal is to evaluate product ideas and provide strategic business building support to ensure the long-term viability of Gro DAO. This includes assisting the Groda Pod in product strategy, supporting analytical-heavy tasks, and research work.

  • Support of Groda Pod in product strategy and ideation: Continued support in product explorations, e.g., customer interviews, user journeys, problem-solutions trees
  • Support of execution of analytical-heavy tasks: Continued support in data-driven analyses, e.g., monetization models, business case modelling, etc.
  • Support of execution of research work: Continued support in strategy related research tasks, e.g., exploration of new verticals, preparation of decision meetings

3. Strategic Finance

This area focuses ensuring the financial health and sustainability of Gro DAO.

  • Financial Reporting: Generating regular reports and analysis to provide accurate and up-to-date financial information for decision-making and transparency.
  • Cash Flow optimisation: Providing a sounding board in on-going cash flow considerations, e.g., budget decisions, forecasting, and identifying opportunities to optimise cash flow efficiency and liquidity.

4. Operational Coverage of Protocol Rebalancing

This area focuses on managing the financial strategies to ensure the sustainability of Gro DAO.

  • Protocol Strategy Rebalancing: Being first touchpoint to execute rebalancing actions related to Gro’s Protocol strategies.

# (4) Composition

  • The Pod will consist of Bernard as part-time contributor covering deliverables for the 4 focus areas and dedicated support resources from the w3s team
  • The facilitator role is owned by Bernard who holds the overarching responsibility for core topics of the Pod, steering it, and „putting the pieces together“.

### Background of the facilitator


  • part of FiSt Pod since inception – took over faciliator role with offboarding of Exa and Pvl
  • prior working for McKinsey’s Digital Practice
  • part of w3s - a team of DeFi/TradFi contributors (ex-Blackstone, JP Morgan, DeFi) to support crypto companies and DAOs in strategic finance topics (M&A, Fundraising, Strategy and Finance Management)
  • supports strategic advisory (growth, monetization, operations) and financial reporting topics within w3s
  • steering committee at McKinsey-DAO (global community of former McKinsey employees incl. several top web3 founders).

# (5) Budget:

Our proposed budget aligns with the Pod’s prior financial plan - i.e., we reduced headcount by 2 contributors, so the Pods contributor budget for this term is reduced by 66%. Moreover, we aim to reserve an additional 30k USDC for topic-specific support from external resources or emergent high-value tasks that may arise beyond our capacity.

The current term will end with an approximate budget surplus of ~33k USDC, which will be kept in the FiSt Pod’s wallet if this proposal is approved. If the extension for the second term is approved, the FiSt Pod will request a total amount of 27k USDC from the Gro DAO Treasury to the FiSt Pod operational wallet.

Detailed Breakdown:

  • Contributor payments: 30k USDC + 40k $GRO Tokens over 6 months
    • This accounts for the named contributor (Bernard) and includes resources from w3s for specific on-demand tasks (e.g., Research capabilities), along with facilitator role compensation.
    • Like last term the contributor will cover a third of a FTE equivalent role
  • Contingency budget for additional contribution: 30k USDC over 6 months
    • This budget serves as an additional bucket for an additional contributor that may be coming onboard within the next 6 months or to use extra capacity from internal resources.
    • The expenditure of this additional budget will always be synchronized with People Pod’s prior spending.
    • Creation of this resulted from a similar situation in term 1, where we had the flexibility to tap into 2.5k USDC of the remaining Risk budget to execute on a high-value Risk task.

# (6) Voting:

The proposal will be open for comments over the next 6 days. If no substantial changes are required, it will then be open for voting for another 5 days.

There will be two voting options:

  • Extend FiSt Pod’s term for 6 more months
  • Rejection of the proposal

# (7) Guiding principles:

The FiSt Pod aims to uphold Gro DAO’s ideals of transparency and collaboration in all its interactions. Adjustments to our focus areas and deliverables may be necessary to account for developments in governance, legal, or regulatory matters. This proposal should not serve as a basis for investment decisions.

The FiSt Pod is enthusiastic about receiving community feedback. We invite active community participation in shaping our future endeavors, which we believe will foster a collaborative environment essential for the success of Gro DAO’s mission.

# (8) Reporting

The FiSt Pod will update the DAO on its progress regularly through the community channels such as Community Forum and Discord including a monthly report on the Notion Board here.

Big thank you for the last 6m to everyone involved and hoping to continue the journey!
Looking forward to hearing everyone’s thoughts - thanks to @graadient, @SAS, @raambo, @Levi for iteration on this!

#(9) Submission date and next steps

  • Date of Submission: 2023-06-22T00:00:00Z
  • Move proposal to Snapshot if RFC feedback is implemented and there is sufficient support: 2023-06-28T00:00:00Z(at the earliest)

Signalling Vote

Please indicate below whether you are FOR, AGAINST; or have no opinion (ABSTAIN); on this proposal.

  • FOR: approve the proposal
  • ABSTAIN: no opinion on this proposal
  • AGAINST: do not approve the proposal

0 voters

This RFC will be open for comments over at least the next [6 days]. If no substantial changes are required, it will then be open for voting for another [5 days].


This is just for comments not a temp check right?

  1. Who are the members of the pod besides Bernard and Levi?

  2. Would you be interested in hoping on a Twitter Spaces to discuss finance risk/strategy from a GroDAO perspective?

  3. Do you intend to add any other members on to the pod? (I see you have a contingency budget for the just in case, but is that your intention?)

  4. Are you budgeting for a continued surplus for the next term?

  5. What other collaborations do you forsee in phase 2?

Could you clarify this?

It sounds like you’re saying if you collaborate there needs to be a clear lead with the collaboration project.

  • are these also in a pinned spot on discord? Apparently there’s a growing interest in DAOs presenting reports connected to transparency matters to the public. That is going to be the decision of each DAO, however, if the reporting is accessible to even the smallest stakeholders like me :joy: it’s for the better!

Hi @infinitehomie.eth thanks for taking the time for feedback and your contribution as one of the active OGs! Appreciate your positive response!

Please find the responses to your questions below.

Yes, giving DAO/community members a chance to clarify any open questions or doubts.

The set core contributor and facilitator will be Bernard.
As you already pointed out, we have a contingency budget for another part-time facilitator to come on board to support specific deliverables.

Sure, let’s do it! <3

Provided we can find the right candidate, we would love to onboard another part-time contributor to support deliverables. From our experience in the last term, this flexibility has enabled us to deliver in the most effective manner and add out-of-scope deliverables (e.g., Levi came in with a Risk-specific skillset and could ship some high-value tasks). For this term, securing external contributions for the Treasury Mgmt/Strategic Finance deliverables would allow me to focus more on Product Discovery support - which currently is time very well spent.

Depends on if/how fast we find an additional contributor.

Collaborations will be with Groda Pod (mainly Product discovery support and Treasury Mgmt topics); People Pod (mainly Strategic Finance topics); and Panda Pod (mainly Strategic Finance topics).

Exactly. For collaboration projects, e.g., streams of product discovery we intend to allocate clear ownership.

The report was posted on the Discord #governance and #og-corner channels, and presented in a community call when released. And totally hear you on the accessibility to everyone! Here is the link :slight_smile:

Sir, you are too kind.

You’ll be hearing from me about a twitter spaces schedule soon!

thank you for your answers, the FiST pod is important, so i appreciate the openness to answer my questions :slight_smile: (i ask a lot of questions haha)


Thanks for sharing this! Here are a few questions/ comments from me:

  • In the follow section,

it lists 3 high-level focus areas, but then elaborates on 4 detailed focus areas. This comes a across as a little confusing.

  • Do you have a timeline for when the focus areas will be broken down into OKRs? Would be good to have clarity on those.
  • To what extent does the follow focus areas

involve DAO governance?

The continuation of the Finance and Strategy (FiSt) Pod and Gro DAO’s funding of it have my full support. In its first term, the Pod has shown outstanding performance, reaching OKR targets and managing contributors well. A little transfer from the DAO treasury at the conclusion of the period will assure the Pod’s success if there is a surplus. Adding further six months to the Pod’s tenure will unquestionably improve Gro DAO’s strategy and financial operations. Let’s take advantage of this chance to jointly shape Gro DAO’s future!

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Hey @raambo, thanks for reading through and the feedback! :slight_smile:

Please find answers below:

  1. On having 3 focus areas and 4 workstreams: Think of the focus areas as north-star goals (“What we have top of mind in all our work”) and workstreams as the actual sub-workstreams feeding into these goals (“What we need to get done to feed into these goals”). Workstreams could hypothetically be 5, 6, or 7…while we want to focus on 3 clear overarching objectives. Being mindful that it might have been confusing putting the numbers next to each other and some objectives equaling workstreams, e.g. Product strategy.

  2. Timeline for when the focus areas will be broken down into OKRs: Will be done with the inception of the Pod - like last term. Focus here will be on giving sufficient space to iterate on OKRs, getting feedback from People Pod bringing in its Pod-overarching OKR view, and align deliverables with other Pods.

  3. To what extent do TM and Protocol Rebalancing involve DAO Governance: Within both of these workstreams, decisions will be touching DAO governance, e.g., in Treasury Allocation decisions, Rebalancing of Treasury & Protocol strategies, and Whitelisting. For all of these, we will outline the processes touching DAO governance in detail and align them with the existing Governance Framework.


Last set of questions from me :smiley: (just to provide more clarity to the average reader):

  • Now that second cycle has come to an end, could we include the figure for the OKR’s achieved?
  • What happened to the ownership of the OKRs that weren’t met (https://www.notion.so/grodao/First-Pod-OKR-Review-Cycle-1-098f2df578ba460bb068420d3105b1c2) as a result of their owners (exa, pvl), leaving their positions? Were they given to other pods? Or pushed to OKR Cycle 2?
  • What is the status of the Strategic Finance achievements that are ‘market for deliverables in final stage’?
  • How will you ensure that as a part-time facilitator/contributor, you can manage all 4 workstreams Seems like a hefty task!

Hi Raam, thanks for your set of questions! :slight_smile: Please find answers below:

  • Certainly - updated the proposal here, and included the number in the proposal for Snapshot. We are happy to report that we could achieve 100% of OKRs.
  • Handed over to other Pods. Deliverables of Exa have been handed over to Panda, Bernard, and Raambo. Find details of handed over tasks in the monthly report here. One task was agreed to deprioritize in the hand-over “Task 4: G^2: Create a framework for evaluating the health of current or new positions.” Priority deliverables of pvl offboarding have been partly taken over by Levi (Rebalancing) and partly handed over to Panda Pod for next quarter.
  • Done 100%. For the Emergency Reduction Playbook we should align if okay to push guidelines to Discord now.
  • Work work ser :wink: I’m confident to be able to deliver on the tasks outlined over the coming 6 months. As discussed before, ideally I can find an additional part-time contributor to support deliverables in TM and Strategic Finance so I can spend more time on Product Strategy. If I can’t find a suitable person, I’ll do it myself and spread myself more thinly across the different streams. If ever workload peaks, I have the option to bring in additional resources from w3s, as we’ve discussed before.

There are Likely contributors that can assist with tasks without being fully assigned as a fist pod contributor to help manage the task at hand.

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