Note: this is a sponsored proposal (original here), changing only the frequency of AMAs.
Objective:
This proposal aims to add two new duties to the role of Financial Officer. The benefit to holders is increased transparency and ensuring that the most important position in Volta is not being misused.
Snapshot:
High Level Details:
A new AMA session will be held every month, during which either the Financial Officer or a representative of the Treasury department will answer questions directed towards them. Additionally, a low-level progress report will be released each month, providing information on how Volta’s treasury has been managed by the Treasury department.
Provide Low Level Details:
Monthly AMA
- Two new Discord channels will be created accessible to holders, similar to the current
#governancechannel. - The first channel will be dedicated to questions directed towards the Treasury department only. Any questions deemed irrelevant should be treated like any other messages in other channels and do not require a response from the Treasury department.
- The second channel will solely serve as a platform for the Treasury department to answer those questions.
- The Treasury department will be obligated to spend at least one hour* answering questions every first Wednesday of the month. The timing for answering can be chosen whenever the team is available.
- If the Treasury department is unable to answer on Wednesday, they may do so as soon as they are available. Additionally, if the team wishes, they can answer questions at any point before the first Wednesday of the month.
- *If no questions are asked or left unanswered before Wednesday, the team has no obligations for that Wednesday.
- If the Treasury department desires, they can conduct voice AMAs, but all questions and answers should be transcribed and available on the second channel.
- If a repeat question is asked, a moderator can simply link the existing answer without needing a new response.
- **The team reserves the right to change the process to make it easier for either them or the holders or for other reasons, but an AMA session must occur monthly.
Upon passing
The two channels shall be created, and one week after the proposal has passed, the designated day will be set for the Treasury department to spend at least 2 hours answering questions if needed. Afterwards, the above-mentioned structure takes place.
Monthly progress report
- The Treasury department shall write a report on what they have done in the past month regarding Volta and its treasury.
- The report shall be released on the first of each month, or as soon as possible if that date is not feasible.
- While there is no defined structure or template, it must contain either a comprehensive or summary overview of the actions taken by the Treasury department to adequate manage the treasury.
- To safeguard against the disclosure of any proprietary strategies, the report may include vague statements such as “Engaged in discussions with potential investment projects.”
- The content of the report is at the discretion of the Treasury department. Failure to produce a report or to include meaningful information will be construed as a lack of performance by the Treasury department.
- An example of an inadequate report would be: “We made the monies” while the treasury has declined.
- The report shouldn’t mimic the last treasury reports, where the text is written to be understood by all. Instead, it should be treated s a place where all kinds of useful numbers or information are included. It shouldn’t be subject to constraints or limitations, such as the need to be easily understood.
- The report can be posted on Discord or other platforms, such as Medium, as long as it’s easily accessible, archived, and linked in the #announcements channel on Discord.
If the treasury grows by more than 25% in any quarter compared to the previous one, the Treasury department doesn’t need to write a monthly progress report unless such growth isn’t sustained for the next quarter. However, an increase shall not be considered if a token has been artificially inflated.