Scope: This proposal is to provide to extend the current Treasury Manager’s term to see that the following WIPs are executed:
- WIP 9 Redemptions
- WIP 11 Buy $SIFU Vision Tokens
- WIP 12 Mod Compensation
Provided that the WIP 11 and 12 are passed on Snapshot.
Link to previous discussions:
[RFC] - Treasury Manager Term Extentsion
[DAO DISCUSSION] Treasury Manager ™ Extension Proposal
Extend TheSkyhopper’s Position to the Treasury Manager until the WIP 9, 11, and 12 are completed if needed beyond the original term end date of July 24th, 2022.
Provide High Level Overview:
SkyHopper (Bastion Trading)'s Treasury Manager term ends on July 24th 2022. However, the Treasury Manager will continue with no pay until such actions are completed to fulfill the WIPs mentioned above.
The Treasury Manager term in such a case will end 10 calendar days after the actioning of all of WIP 9 (only first Redemption), 11, and 12.
Provide Low Level Details:
If passed, nothing will have to be done for this action. The other multi-sig will be made aware of a possible extension of the Treasury Manager term.
I mean the market is really tough to navigate, I think TheSkyHopper deserves more time to prove he can be a good treasury manager
I agree! They need more time
Happy to keep SkyH as long as he wants to stay. We could also give some extra compensation.
Why extend until then? Why not take on the TM job for a year? The three months you had are far to short to accomplish anything.
I am pretyy sure the majority here would love to keep you on?
As for this proposal, if the above is not an option I most certainly am all for it.
I believe that he needs more time
Agreed, we must make sure this things get pass before we get left in the dark
Agreed 100% .
Thank you sky for prpposing this. It shows that you care for the community.
Tbh I would really like you to rerun for the election but we will make do with extension, fully support this proposal ser!
i vote to extend SH’s time
Agreed - with the market conditions I too believe more time is needed!
Keep him. Three months not enough time to evaluate performance especially with current market conditions.
More time is needed to assess performance.
Maybe an assessment tool could be brought in with set criteria for people to mark against.
I believe that SH has done an excellent job during this volatile period. I would also give him much more time, like until June 2023.
A manager must have time to implement a medium to long-term strategy. SH has demonstrated the ability to navigate through this period and avoid risks.
It is also demonstrated by the performance of the delta neutral crypto arb fund managed by the bastion team.
After a substantial rise of the defi ecosystem, now that the market has become a bit bigger, it is necessary to have someone who can manage the risk and see the opportunities. You need experience in trading
To be most effective, it would be wise to have assistant traders always on the clock, 24/7 so the TM can focus on the big picture and operational treasury duties are shared with rotating assistants based on UTC coverage.
This is (still) a $100M+ fund. The sooner we act like one, like put gates around redemptions by allowing members of the community that would like to increase their holdings to do so at the redemption window. If that demand is subsequently exhausted, or is lacking entirely, there will be a repricing window to allow for any extreme price movements in either direction.
Having a multi-day redemption window by default must have a mechanism for repricing to factor in market shocks if they happen. In three days, we could have 2 market shocks.
This WIP has passed. But to note:
WIP 9, 11, and 12 have been effected. Therefore, my term will be ending on July 24th at the 3 month period to the day the election for TM was concluded.
Voting has now closed for WIP #13.
The proposal to extend SkyHopper’s term as Treasury Manager has passed with over 99% of votes in favor.
This allows a brief extension to his term date (concluding on the 24th of July) if required for a smooth transition.