KTR-8: adminDAO funding

Author
Marko
StatusImplemented
Created2022-09-20

Summary

This proposal requests that funding be sent in quarterly replenishments from the Kwenta treasury to the adminDAO to be used for Core Contributor expenses.

Request

This asks that fifty thousand sUSD in funding be sent from the Kwenta treasury to the two out of three adminDAO multisig wallet.

Address

Optimism ETH Address: 0xF510a2Ff7e9DD7e18629137adA4eb56B9c13E885

Rationale

The adminDAO proposes that the Kwenta Treasury transfer fifty thousand sUSD for incidental Kwenta expenditures. The adminDAO has under its purview most DAO roles, including DAO Contributors, Product Elites, marketingDAO, and devDAO. The requested funds will be utilized to reimburse Core Contributors, cover offsites & Kwenta event expenses, various subDAO expenses, bonuses for DAO roles, and other expenditures.

The adminDAO will be able to run autonomously and sustainably with 50,000 sUSD in quarterly funding. In the unlikely event that more than 50k sUSD is required in a quarter, the adminDAO can submit a separate request for funds.

As the protocol evolves, it will become more burdensome to regularly seek payments for contributor costs through the treasuryDAO. We propose that the Kwenta treasury deliver quarterly replenishments of $50,000 sUSD.

The adminDAO offers a transparent and decentralized process to manage administrative responsibilities across the protocol. The adminDAO will be responsible for tracking costs and reporting the use of funds on a quarterly basis to the treasuryDAO. Quarterly records provide an opportunity for oversight and prevent excessive spending.

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