$ 943 Million total assets and $25.9 million in payouts, Highlights from Messari - Crypto Theses Report, Proposals, Tweet, and Good reads...
Growth Numbers 👀
Latest MultiSafe Stats
Total Users - 232
Payouts - $ 25.9 M ✅
Total assets - $ 943 Million ✅
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Every week, we share the curated treasury proposals to update our readers about the latest implementation across Crypto Treasuries.
Let’s start with Messari - Crypto Theses for 2022.
Messari’s recent Crypto Theses Report includes “DAO Treasury Management.”
Highlights from the Report:
There is a need for better treasury diversification in top projects on large reserves, and most DAOs remain actionless. There are a few reasons for this (developer naivete or overconfidence, the desire to avoid giving communities the impression a large token holder is “dumping” assets, regulatory challenges, etc.). Still, it simply comes down because of a lack of visibility and decision-making tools in many cases.
The need for Real financial managers for DAOs would help protocols diversify intelligently to ensure they are well-capitalized under all sorts of market environments.
Deep DAO is doing a good job tracking project treasuries, but we need an elementary portfolio management tool to provide the full context. Better treasury analytics for communities could significantly improve the governance decision-making process.
Treasury Analytics by DeepDAO
1️⃣ Proposal: Wonderland to continue with Sifu for its Treasury Management.
Wonderland's valuation is nearly $2B. Sifu is the co-founder of Wonderland and has been actively managing Community, Protocol, and Treasury.
Treasury progress so far:
Secured profit by switching TIME/AVAX pairs to TIME/MIM
Locked voting power for the recent CVX purchase at more than double the APR
Working closely in overall stablecoin farming strategy
What is CVX?
CVX is the native platform token for Convex Finance.
CVX can be staked on Convex Finance to earn a share of Curve LP's CRV earnings.
Staked CVX will receive its portion of the fees as cvxCRV (tokenized veCRV). This is to keep CRV in the system building boost, but users can trade out their cvxCRV through the cvxCRV/CRV liquidity pool.
Convex CRV fees that would be returned to CVX stakers are locked in veCRV and tokenized as cvxCRV, and given to the CVX stakers.
CVX is used for voting on how Convex Finance allocates its veCRV towards Curve.fi gauge weight votes. Users must vote-lock their CVX tokens to participate. More details on voting here
Source: Docs for Convex Finance
Read the proposal here
2️⃣ Proposal: Tokemak Reactor Funding via Treasury Fox
This proposal outlines a strategy for earning revenue from the ShapeShift Tokemak reactor.
ShapeShift DAO’s FOX treasury is roughly $200 million (at the time of this writing), and in DeFi, there are countless ways to generate yield on those assets.
DAO would fund the reactor with up to $30 million worth of FOX from the DAO’s treasury, and in return, could generate a substantial revenue stream in the form of TOKE rewards.
Current prices of FOX and TOKE, as well as an average Fox Reactor APR of 50% (currently it’s at 43%), a deposit of $30 million worth of FOX (roughly 15% of the current treasury) would generate about $1.25 million in TOKE rewards per month. ($30 million at 50% = $15 mil/yr or $1.25 mil/mo)
TOKE has significant value to ShapeShift DAO as the governance token of the Tokemak protocol, used to allocate both TOKE rewards and vault liquidity, helping secure deep FOX liquidity and offsetting the need for ongoing liquidity mining programs.
Further, can also stake TOKE rewards for additional TOKE yield of 50%+ for maximum yield.
There are a few downside risks as well. Read the proposal here.
3️⃣ Proposal: Olympus DAO’s proposal to reduce the exposure to USD Stablecoins.
According to a few sources (shared the links below), USD has increased money supply and inflation in the last few years (especially 2020-2021) at a high rate if the USD stays on that path until it crashes. The global financial system migrates to cryptos, CBDCs, or other global currency systems.
So they have proposed options to buy other cryptos with current reserves and accept more types of bonds.
Read the proposal here.
Highlighting what leaders have to say about Cryptocurrency
➡️ Proposal: Add more LQTY and PoolTogether to the treasury
20 million of each need to be bought and held for voting and staking.
What is LQTY?
LQTY is a token that captures the fee revenue generated by the Liquidity Protocol via staking. Liquidity is a decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral.
Loans are paid out in LUSD and must maintain a minimum collateral ratio of only 110%. In addition to the collateral, the loans are secured by a Stability Pool containing LUSD and by fellow borrowers collectively acting as guarantors of last resort.
Read and vote for the proposal here
Twitter Highlight for this week
🔥 DAO Treasuries: A Balancing Act
🔥 The Terra Degen Stablefarm Strategy
In case you missed it 🗞
🗞️ Treasury House (Dec 17 - Dec 23)
Coinshift simplifies treasury management by providing efficient multisig tooling to save time & money for crypto teams.
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