Product enhancements, bug fixes, Bankless DAO season 1 proposal, $IDLE treasury diversification etc
This week was a total hustle with all the bug fixing and product improvements. We even had hippy vibes with the successful testing and going live with the product improvements.
We always welcome the feedbacks and suggestions. So, if there is any input reach out at our - Discord Channel
Here’s what we want to share this week.
1. DAOs data sharing
Earlier, if users registered on MultiSafe as a DAO. Their data was public by default and will be available on IPFS.
Now the DAOs can choose under their settings to enable/disable data sharing outside MultiSafe.
2. Any owner can execute the transaction
While doing any multisig transaction, the signers need to approve/reject the transaction to reach the threshold. After reaching the threshold, any of the signers can now execute the transaction on the blockchain and pay the gas fees.
3. Pay a single person directly
As per our research and user feedback, we have come up with a new enhancement in which users can pay a single person directly.
If users have added their teams and want to pay a single person within a team. Click on that person and in the ‘Person Details’ there will be an option of ‘Pay Now’ that will allow users to easily pay the particular person within the team.
This will help users to save time with hassle free transaction within seconds.
Mass payout total amount calculation
While doing Mass payouts in an ERC-20 token, one of our amazing user found out that there was a mismatch in the total token amount and our automated USD calculation.
This bug was fixed the very same day by the MultiSafe team.
We always prioritise our customers and the team makes sure to work on the bug or feedback at that particular point of time.
What’s new in crypto Treasury
Bankless Season 1 Proposal for Grants Committee
In this, the grant treasury will be controlled by the grant committee with a Multisig wallet. The signers for the Bankless treasury will be the committee members.
An overview of how funds will be managed for Season 1.
Grant treasury will be used to fund the projects who should not wait for next season for funding and are ready to start mid-season.
Funds will be allocated based on milestones or KPIs.
Projects will receive initial grants amount upfront and require to complete each milestone or KPIs to receive further funding.
At last, the unused funds will be retained by the grant treasury and will be further used for future seasonal funding.
There is the full document provided by Bankless DAO. The proposal is live on Boardroom for voting. Click here to vote on Boardroom Interface.
IDLE Treasury Diversification through Strategic partners
IDLE finance will diversify a portion of $IDLE held by governance into stablecoins for strategic partners.
Here, strategic partners will deploy stablecoins into Idle Treasury and receive IDLE with the aforementioned vesting period. This small change in the protocol can bring various benefits
Capital Efficiency - by deploying partial or total stablecoin reserve into the idle pool.
Fund expenditures - rebalancing and protocol maintenance cost using the non-volatile assets.
Long-term sustainability and risk mitigation - thriving during the non-favorable markets.
Venture league - set up investment arm to fund strategic Defi projects and teams in their early stage
Improve brand - reputation in Defi ecosystem, with the backup of solid strategic partners.
If you want to further know about the Idle reserves and technical specifications. Click here to read the proposal.
Sushi Swap’s proposal for protecting Treasury Revenue
Sushi Swap has come up with a new proposal named - Kanpai: Bear Market Protection with Treasury Revenue discussing how they can protect their Treasury Revenue and fund necessary operational expenses during the bear market. Till now, SUSHI’s treasury income was only through SUSHI block emission which acts as a fallback for them during the bear market. This new proposal will help them maintain their treasury without being sold.
The key takeaways -
Have a portion of trading fees into reserve assets that will be further sent to their Treasury.
Once they have big numbers in their treasury. Further, Yield farming will be used in order to grow the treasury. This can even help incentivise and support the team.
Enabling Sushi to “Buy the dip” such that if the price of SUSHI falls, treasury funds will be used to buy back SUSHI to support token price.
Click here to have a look at the proposal.
MultiSafe aims to simplify crypto treasury management for Companies & DAOs - built using Gnosis Safe, IPFS & Filecoin.