Treasury House
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Treasury House
$20.4M in payouts, $885M assets imported, New Coinshift feature, Balancer Protocol proposes to transition Treasury Control to Governance Multisig, and more...
🌈 Hey Fam,
A look at our growth numbers 👀
Latest MultiSafe Stats
Total Users - 202
Payouts - $ 20.4 Million ✅
Total assets - $ 885 Million ✅
We spend a lot of time creating our Treasury management platform so that we can provide you with the best experience. In this, our driving force is your feedback. So reach out to us at Discord. Every response will be read. ✌️
And if you find this useful how about sharing the newsletter with your peers or the ones you find would be interested in reading.
You can even subscribe to get the weekly updates on Coinshift and Crypto Treasuries.
Every week, we share the curated treasury proposals to update our readers about the latest implementation across Crypto Treasuries.
🚀🚀 New feature update - Flexible Mass Payouts 🎉
Now Coinshift users can pay multiple people in multiple tokens - all in one go
On top of saving time and a significant amount of gas fees. ✌️
🔥 Demo Video - https://bit.ly/3lw7hZ2
🔥 Link to the article - https://bit.ly/31qIVJp
1️⃣ Balancer Protocol proposes to transition Treasury Control to Governance Multisig
Balancer Labs currently control the Balancer DAO treasury - To fully decentralize the Treasury operations, they’ve planned to hand over direct control to DAO multi-signers. Signers will not be responsible for any decision-making powers but to enact legitimately passed snapshot votes.
A stipend of 500 BAL every six months will be payable to DAO multisig signers. They are free to opt-out of this if they desire. If a signer leaves before that, they are eligible to receive it prorated.
Balancer DAO’s treasury will transfer funds to the new DAO multisig address if this proposal is passed. The DAO multi-signers would create a gnosis safe on Fantom to hold Balancer DAO’s allocation of BEETS as part of the recently passed friendly fork proposal.
Note: Balancer is already a part of the Grants program, so the exact determined amount will only be transferred, not all the funds.
Read the proposal here.
➡️ Treasury Swaps Program GNO x BAL - This is a pilot program in which 4000 ETH-equivalent GNO (BAL) will be distributed across 8 months to decide further steps. In terms of financial incentives, this partnership will provide -
Treasury diversification
Improved token distribution within long term players
Voting power for DAO proposals
Progress till now - Both are in conversation and have started with the DAO Agreement Process.
➡️ Token Swap Balancer DAO x Fei DAO - 200,000 BAL from the Ecosystem Fund was swapped for 2,598,000 TRIBE and 2,454,000 FEI.
As Fei V2 will utilize a custom Balancer V2 Investment Pools to manage risk, deploy liquidity, and earn yield with much greater capital efficiency. Fei V2 includes -
Robust peg maintenance via 1:1 redeemability
Efficient management of risk, liquidity, and yield via algorithmically controlled Balancer v2 PCV (Protocol Controlled Value) pools
Aligned incentives between TRIBE and FEI holders via TRIBE buybacks and backstop
The best part of Fei V2 is “protocol equity”, which is the amount of PCV that would remain if all user-circulating FEI were redeemed for PCV collateral.
Protocol equity comes from the yield and appreciation of PCV. It will be partially allocated toward TRIBE buybacks to help align the incentives of TRIBE holders with the rest of the FEI ecosystem. The remainder will serve as a buffer to continue to absorb volatility and earn a yield to grow over time.
Learn more - Introducing Fei v2
2️⃣ ENS proposes to Transfer ENS treasury and contract ownership from the ENS Multisig to ENS DAO
Recently ENS launched ENS DAO and $ENS token, Now they have requested that the governance powers of ENS will transfer from the ENS root multisig to the ENS DAO.
Several aspects that they’ve proposed to transfer -
Transfer ENS treasury control to the DAO, which includes all ETH and USDC held by multisig.ens.eth to be transferred to the DAO’s timelock contract at wallet.ensdao.eth.
Ownership of the ENS Registrar Controller (controller.ens.eth) and the pricing oracle is transferred to the DAO (wallet.ensdao.eth). Giving then control over -
For price oracle -
Set the contract used to get the USD-ETH price.*
Change the price per year of each length of the domain name.
For registrar controller -
Replace the price of the oracle contract.
Withdraw accumulated funds to the DAO treasury.
Set the minimum and maximum period between the first and second transactions of the registration process.
Transferring ownership of the ENS Registrar to the DAO so that they can
Add and remove controller contracts.
Set the resolver contract for .eth
Transferring ownership of the ‘.reverse’ namespace, which governs the assignment of primary ENS records, to the DAO. So that they can -
Replace the reverse registrar for Ethereum addresses.
Create new types of reverse resolution (For example, bitcoin addresses) and update them.
This proposal will give ENS DAO control over two significant aspects of the protocol, i.e., ENS treasury and contract ownership. Further, these funds will be used in community initiatives.
Read the proposal here.
Screenshot of the discussion from the forum -
Good Reads📚
🔥 The Case for DAO Treasury Diversification
🔥 Introducing Fei v2
🔥 Introducing Gnosis Protocol V2 and Balancer-Gnosis-Protocol
🎙 DeFi Treasuries with Hasu, MonetSupply, and Larry Sukernik
In case you missed it 🗞
🗞️ Treasury House (Nov 24 - Dec 2)
About Coinshift
Coinshift aims to simplify crypto treasury management for Companies & DAOs - built using Gnosis Safe, IPFS & Filecoin.
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