Treasury
The Treasury Framework outlines the guidance for managing the spending and financial risk of the RugDAO.
Security
DAO should be controlled by a Gnosis multi-sig with 9 signers -
3 signers from Core Team, 6 from DAO who are self-nominated and approved by the Core team. DAO representatives should have the availability to sign as needed, within and, at times, outside of normal business hours due to the global nature of the DAO and the team
Treasury Management
DAO will use Multis to help with treasury management alongside Gnosis multi-sig
Diversification and Liquidity
Treasury can only hold ETH, WETH, USDC, RUG and RDAO
Treasury should always cover tax costs each year in stables (USDC)
Minimum allocation to stables 20%, Maximum allocation to stables 50%
Treasury can put USDC/ETH in a farming pool on Uniswap (26% yield)
Tax Management
Core team must hire tax accountant for the DAO each fiscal year (Dec 31st)
The Treasury should always cover tax costs each year in stables (USDC)
Reporting
DAO must report holdings every 6 months (June 31st, Dec 31st)
Budgeting
Core Team is in charge of budgeting for major functions of the DAO
Core Team must submit cost budget/projections to DAO to vote every 6 months If approved, funds can then be transferred to the Core Team wallet
Submissions
Majority of costs will be covered in the budgeting process
Any ad hoc submission where costs <$30k can be sanctioned by the multisig to be transferred to the Core Team
Any ad hoc submission where costs >$30k must go to the DAO for voting
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