Introduce Role of Treasury Operator w/ Trade Teams
High Level Overview:
Propose bringing on Two Treasury Operators to oversee and maintain the treasury when without an elected Treasury Manager. To incentivize performance, these individuals are eligible for a reward from profitable strategies they propose and deploy.
Treasury Operators can foster communication, monitor team productivity, and guide cooperation in developing and monitoring trading strategies with a team. They can help keep the multisig running smoothly and maintain reward payments when an elected Treasury Manager is in place. A Trade Team is suggested to reward individuals with expertise in various positions to add valuable insights and direction to treasury management strategies alongside the Treasury Operators during periods Wonderland is without an elected Treasury Manager.
It is the goal of this proposal to lay out responsibilities for the Treasury Operator role, establish guidance for expectations of performance, ensure secure and effective deployment of treasury assets, and suggest additional positions that would help facilitate maintaining treasury allocation in line with Holder’s interests.
When Wonderland DAO is without an elected treasury manager, Two Individuals should act as Treasury Operators. They should be incentivized to, but should not be considered responsible for, developing trade and market analysis.
Treasury Operator Responsibilities:
- Submit and Approve Mutilsig transactions to maintain treasury diversity
- Assure team submitted Multisig requests are checked and approved quickly
- Settle Rewards, Incentives, and Redemptions
- Provide Multisig key to new Treasury Manager
- Provide Multisig key to new Treasury Operator
If we have no Treasury Manager, less than 4 signers on a Multisig, and/or no Treasury Operators - the elected Senior Community Support manager should be appointed to hold the Treasury Operator position to ensure continued effectiveness and operational security. Being in this position now, Alice should be appointed Treasury Operator effective immediately if this proposal is passed - until Two Treasury Operators are elected and she is relieved of her Double Duty.
Application for Position:
Anyone who wants to be Treasury Operator should be a known member of the community that can prove they understand the requirements of the position with a forum proposal. Doxxing is not required in full, but Treasury Operators should be Doxxed to our Senior Community Support Manager and two other trusted community members in a way that ensures adequate privacy for elected Treasury Operators.
Reward for Service:
The responsibilities and liabilities involved in this position should not be understated. Treasury Operators should be rewarded for the service accordingly with 0.15 wMemo per month when an elected Treasury Manager is not in place. When we have an elected Treasury Manager and the Treasury Operators only need to settle rewards, offer additional perspective, and approve Multisig requests - their reward for service should be reduced accordingly to 0.05 wMemo per month.
To incentivize Treasury Operators to develop and present profitable trade and investment opportunities, they should be eligible for 1% of profits from strategies they propose, if the strategy is approved and deployed.
To incentivize other Team Members and Treasury Operators to assist in the development and deployment of proposed investments - Team Members and Treasury Operators should be eligible for a Trade Reward of 0.25% from the profits generated in strategies they significantly assisted with.
Duration and Accountability:
The Treasury Operator position has no predefined expiration date. They are either removed by governance, disciplinary action, or they step down. If they act against the interests of the protocol or exhibit an extended period of inactivity (60 Days) - they should be removed.
In order to foster continued progress when without an elected Treasury Manager, team members should communicate with Treasury Operators on a regular basis - at least every 14 days. Failure to communicate regularly will have negative impact on that member’s desirability.
To ensure Treasury Operators are acting in accordance with community interests AND they are receiving adequate communications to perform their duties from other team members - there should be an expectation for those communications to be released quarterly. This is to encourage compliance and ensure holder’s are provided necessary insights into the effectiveness of the protocol during periods without an elected Treasury Manager.
In periods without an elected Treasury Manager, on occasion Dani or other team members may suggest investments that should not go through governance - both to meet time requirements but also to avoid front running. To approve these investments or trades without DAO approval: a majority vote in favor of the strategy must be obtained out of a group of Five members of the elected support team, elected trading team, elected treasury operators, and founders.
Rewards for Service and Trade Rewards should be paid out quarterly, immediately before redemption periods. This should clean up any issues about being paid in Stable coins as they are free to immediately redeem their rewards or pass on redemption and grow their position. Trade Reward calculations are further defined in the attached document.
Treasury Operators are not Treasury Managers - they are established for operational stability, to maintain necessary functions when an elected Treasury Manager is not in place. Two Treasury Operators should be enough to secure the multisig and keep transactions moving smoothly in most conditions.
It is advised to develop a Trade Team for continued support with proposing profitable strategies, developing actionable market data, maintaining treasury accounting, and assisting in the deployment of strategies and investments. All Trade Team Members should be expected to provide reasonable contributions each month when holding the position.
All Trade Team Members should be eligible for a Trade Reward equal to 1% of profits generated from strategies they proposed and they should be eligible for a Trade Reward equal to 0.25% of profits generated from strategies they significantly helped develop and/or maintain.
Below, I list a few Trade Team positions I believe would be useful in maximizing our potential. But this list is not exhaustive and community members are encouraged to submit applications for positions they believe would bring value to our protocol.
Market Analysis and Treasury Accounting: A Trade Team Member responsible for compiling market data, tracking investment health, and organizing Treasury Data for use by Wonderland Community and Managers.
Candidates should have experience in accounting and developing actionable reports. Should not require trading experience. Applications should include references to examples of previous work along with a breakdown of Wonderland treasury holdings and activity over the 14 days prior to submitting their proposal - in a format they would feel comfortable producing every other week.
Directional Asset Strategies: Responsible for researching and proposing strategies to acquire and/or deploy directional assets. These members should continuously monitor any positions they propose, if approved and deployed.
Candidates should have experience in trading directional assets. Applications should include suggestions for strategies they would consider implementing if approved for the position.
Stable Asset Deployment: Responsible for researching and proposing strategies to deploy stable assets. This member should be capable of seeking out new opportunities that arise in the market, prepare investment strategies, and continuously monitor approved positions they proposed.
Candidates should have experience in trading. Applications should include suggestions for strategies they would consider implementing if approved for the position.
Shorting Strategies: Responsible for seeking out, assisting with, proposing, and monitoring Shorting Strategies. Should be capable of providing adequate market analysis to support proposed shorting strategies for internal approval.
Candidates should have considerable experience in implementing shorting strategies. Applications should include suggestions for strategies they would consider implementing.
Trends and Seeds: Responsible for seeking out new projects and following market trends. Should present potential opportunities and strategies for further internal research and consideration. Not necessarily responsible for developing investment proposals, but should be capable of presenting market sentiment reports to managing members and the community on a regular basis.
Candidates should be following and connected to many social groups within the market. Applicants should have legitimate experience in conducting research and networking. Applications should include an outline of their experience, examples of current noticeable trends, resources they historically use for research, and a condensed list of social connections they feel bring value to their insights.
With these Trading Team members and oversight of Two Treasury Operators: Wonderland DAO should be in a reasonably safe position to monitor market conditions, provide adequate data to our community on trading schedules, and maintain a treasury in line with Holder interests.
You probably have many questions or concerns about points made, I know I did while constructing this. It is my intention to plug as many loopholes as possible while maintaining a level of reasonable flexibility to allow for growth and adaptability. I have prepared a more thorough breakdown of this proposal, linked here: Treasury Operators Breakdown PDF
If I may ask that you read the full breakdown to see if your concern or question is answered within, it might save us both a lot of time. No matter, there is no such thing as a bad question. I hope to further develop this through community discourse and find a solution to our current predicament together.
Dedicated Wonderland Community Members who are willing and capable of maintaining Treasury Operator responsibilities are encouraged to put your hat in on the forum. Everyone is encouraged to consider Trade Team positions they feel they could bring value to, whether the position is on the list or something else you’ve got that you think we need. Rewards suggested in this proposal are simply suggestions — you know your value.
Our Senior Community Support Manager will need to be added to the Multisig
After a Treasury Operator is elected, that individual will need to be added to the Multisig
When there are Two Treasury Operators and Four or More individuals on all Wonderland Treasury Multisig, our Senior Community Support Manager should be Removed from the Multisig
In the event any Wonderland Treasury Multisig has less than four signers, our Senior Community Support Manager, whoever that may be at the time, will need to be Added to the Multisig, unless otherwise indicated by future governance processes.
Allocation of 0.15 wMemo per month, per Treasury Operator
Allocation of 0.2 - 0.4 wMemo per month for Trade Team members collectively
DAO approved outline of Treasury Allocation Suggestions to help Treasury Operators and Trading Teams maintain treasury diversification in line with Holder’s expectations in various market conditions
Established lines of communication between All team members and Treasury Operators
Approved method of Recording Votes for Internally Approved Investments and Trading Schedules
I greatly appreciate all the help I received throughout the process of initially constructing this proposal. @Bamchicka @AliceInWonderland @Deal @kyle @The_Ferengi @isthatlowfat @Catalyst @jclemons and others.