- Introduce Treasury Operators & Trade Team
- Do Not Introduce Treasury Operators & Trade Team
- Make Significant Changes to This Proposal
Name: [RFC] - Introduce Treasury Operators w/ Trade Teams
Scope: 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 without an elected Treasury Manager.
Link to previous [DAO Discussion]:
“[DAO Discussion] - Introduce Treasury Operators w/ Trade Teams”
Secure Wonderland treasuries and ensure effective strategy deployment by introducing a role to facilitate these goals. Further introducing additional positions, available to community members who can assist in seeking out profitable strategies and maintaining our positions.
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 services reward, in addition to a % of profits from strategies they personally propose and develop.
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 for adding valuable insights and direction to treasury management strategies alongside the Treasury Operators during periods Wonderland is without an elected Treasury Manager.
Low Level Details:
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
To maintain the functionality of WIP 8 and provide guidance in future situations: While without an elected Treasury Manager, the Treasury Operators are to be consulted by and give approval to Daniele Sesta and/or any other Multisig participants for all investments, trades, or strategy changes. Until Two Individuals hold Elected Authority to approve multisig transactions for Wonderland and are added to all treasury multisigs: All treasury activity outside of quarterly redemptions, wMemo staking contract refills, adding elected members to the multisig, and other necessary operational functions shall require community consensus through governance.
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.
Due to regional restrictions, some candidates in areas like the United States will not be able to initiate certain strategies, but should be able to approve these transaction on a Multisig. It would be preferable to have Treasury Operators residing in regions with limited operational restrictions, but a diverse team should be able to work together to maintain treasury operations effectively even if one or more reside in an area with various trading limitations.
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 and Trade Team Members to develop and present profitable trade and investment opportunities, one individual should be eligible for 2% of profits from strategies that individual proposes, if approved and deployed.
To incentivize Trade Team members and Treasury Operators to assist in the development and deployment of investment opportunities they did not personally propose - Individual Treasury Operators and Trade Team members should be eligible for 0.5% of profits generated in strategies they provide significant assistance to.
A maximum of 4% of profits from any strategy should be allocated to rewards for Treasury Operators and Trade Team members. An individual is only eligible for one reward per strategy.
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 (28 Days) - they should be removed.
In order to foster continued progress when without an elected Treasury Manager, managing members of the protocol 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 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. This can be achieved by creating a private team channel on discord for these members to maintain discussions and hold recorded votes. It should be noted that Treasury Operators and Trade Team members are expected to communicate with the community about most strategies being considering on a regular basis.
In the event Any managing member or trade team member is reasonably considered to exhibit behavior that is counter to the interests of Holder’s, or a fundamental lack of contribution to their post for a period of 30 days, a series of actions should be deployed to limit the capabilities of that team member and allow the community a chance to vote for their removal. This is further defined in the attached document.
In periods without an elected Treasury Manager, on occasion 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 from the elected trading team, elected treasury operators, and founders.
Rewards for Service and Trade Rewards should be paid out quarterly, before the whitelist period of the quarterly redemption. This should clean up any issues about being paid in Stable coins as they are free to quickly redeem their rewards or pass on redemption and grow their position. All Trade Rewards shall have adequate references to account for contribution and analysis, released to the community when trade rewards are dispersed. 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.
We shall open positions for 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. These members should receive perpetual service rewards as they build strategies, assist with other’s efforts, and help the Treasury Operator implement various strategies brought forward through governance. The average suggested service reward for a trade team member is 0.075 wMemo for every 30 days of service, paid out quarterly, immediately before redemption periods.
All Trade Team Members are expected to provide reasonable contributions each month when holding the position. Trade Team members should report to a Treasury Operator in a secure discord channel at least once every 7 days. In preparation for deployment of any approved investment or trading schedule, All Trade Team members should be expected to provide assistance in any area they are specialized. All Candidates wishing to apply for a Trade Team position should acknowledge in their proposal in some way that they have read, understand, and are willing to meet the expectations in this particular paragraph.
Below are a few Trade Team positions that may be useful in maximizing our potential. This list is not exhaustive and community members are encouraged to submit applications for any 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.
A more thorough breakdown of this proposal and further definitions for each point is linked in a PDF below:
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 suggestions — you know your value.
Business and/or technical requirements of the implementation of the proposal:
When without a Treasury Manager: Cease Treasury Operations outside of activities listed in this proposal until Two Elected Individuals are added to the Multisig
Add Two Treasury Operators to all treasury Multisigs
Create One or More secure discord channels for the team to discuss and document strategy analysis and internal voting
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