Discover more from Coinshift Newsletter
$7.3M in payouts, $151M assets imported, Select gas fees is live, Gitcoin Treasury vision by Llama, YAM finance to rebalance its treasury and more...
🌈 Hey MultiSafers,
With the growth and more people joining MultiSafe we’re ecstatic to share the shift in our total assets imported from $75M to $151M. We’re focused on making MultiSafe faster, safer, and simpler.
Latest MultiSafe Stats
Total Users - 106
Payouts - $7.3M ✅
Total assets - $151 Million ✅
How about sharing the newsletter with your peers or the ones you find would be interested.
Do you know - We spend a lot of time creating the best Treasury management software. And our driving force is your feedback. So reach out to us at - Discord Channel
Every response will be read. ✌️
🔥 This week in MultiSafe
Select the gas fees
A lot of our Ledger users were facing issues while submitting the transactions, the default gas fee is selected 10gwei which results in the transactions confirmation delay.
Resubmit Transaction from the dashboard.
Switch between multiple safes without Logout.
Add/update Labels to your transactions.
🔥 What’s new in crypto Treasury
👉 Gitcoin Treasury vision by Llama
After the Aave treasury management vision, Llama has come up with the Gitcoin treasury vision. Treasury strategy is made sticking to the core values and mission of Gitcoin.
Things to be considered -
Risk management framework - This includes the best practices that can be considered by Gitcoin treasury in order to mitigate credit risk, market risk, liquidity risk, infrastructural risk, smart contract risk, and reputational risk. Including the portfolio construction and the capital structure modifications in it.
Reporting - Gitcoin sticks to the Web3 ethos to ensure that the community is aware of all the treasury activities and guides the community about the best practices that worked for them.
There will be bi-weekly calls evaluating the effectiveness of the treasury strategy. Any community member can make treasury management proposal in which a group of experts will evaluate that which all proposals can be effective for treasury growth. Along with the asset allocation, there will also be transparent reporting of all the activities in the Gitcoin treasury.
Click here to read the proposal and comment your views on it.
👉 YAM finance to rebalance its treasury.
The treasury rebalance is done in order to pick the parameters that will keep the treasury balanced in the future. This aims to mitigate the risk and smartly allocate the large grouping of assets shown below -
ETH - 34% USD - 33% DEFI (DPI + strategic assets) - 33%
This is the medium risk factor for YAM treasury. A document nicely explains the DAO House Portfolio Models briefing about the risks involved based on portfolio size.
Max levels for YAM treasury would be -
Sushi - 6% (Currently ~9.3%) UMA - 5% (Currently ~2.7%) INDEX - 3% (Currently ~7%) Gitcoin - 1% (currently 0.6%)
There will be transparency among community members such that the informed decisions are made -
There will be monthly Treasury Analysis reports along with the Mid-month presentation to the community.
The reports will be used to rebalance the treasury if the risk factors have moved out of the governance-approved range.
Click here to read about the proposal.
👉 mStable proposed to create Asset Management subDAO committee
The Asset Management subDAO will consist of 3 signers from the mStableDAO, and be a 2/3 multisig. SubDAO will be deployed on Gnosis Safe and all the asset management requests and funds will be handled by mStableDAO’s signers.
The main aim is to managing idle treasury assets in the DAO’s custody, with a smaller signer group that can stay up to date and more responsive to opportunities.
Initially, the entire allocation of BAL tokens (ca 13,210) & DAI tokens (ca. 422k) will be moved to a new safe from the mStableDAO treasury to deploy liquidity on the incentivized pools on Balancer Finance and Convex Finance platform.
Click here to read the proposal.
👉 Bancor’s proposal to increase UMA investment to 500k BNT
There is currently 35K USD in the UMA Liq pool on Bancor and his proposal seeks to increase the co-investment to 500K BNT.
The motivation is to upscale the UMA pool with Bancor and capture the market. UMA pair has a large number of Liquidity providers with a combined pool of 5.5 Million USD denominated in UMA. The numbers are healthy enough to generate revenue for the Bancor platform.
The voting was done for -
Open Up Space for 500,000 BNT Worth of UMA.
UMA Treasury Matched 500,000$ Co-Investment.
Gain market share of UMA's great Liquidity and Volume.
Involvement with UMA Community.
The community voted in the favor of passing the proposal.
Click here to read the proposal.
If you’ve got thoughts on what should be discussed or any other feedback. Join us at our - Discord Channel
👋 👀 See ya’ll next week!
MultiSafe aims to simplify crypto treasury management for Companies & DAOs - built using Gnosis Safe, IPFS & Filecoin.
Stay connected. Stay Awesome 🤘