There’s been a significant amount of discussion around the idea of treasury management, the MetaCartel Signal and the possibility of using sets/stablecoins to manage some portion of our ETH.
This proposal was spun up last week and discussed on the weekly call, currently it looks like it’s not going to pass, more due to the time restriction and centralization risk, as opposed to a disagreement with the plan of treasury management.
At the same time Moloch v2 is now alive in the world! If we were using a v2 DAO for MetaCartel, these questions about treasury management, centralization, etc, would all be instantly solved by the features v2 allows. Moloch v2 is also still in its infancy, with just a handful of DAOs, it makes sense to start to utilize these new features and to battle-test Moloch v2!
So! This proposal outlines similar goals as Peters previous proposal, with more structure and a part migration to v2. With the end outcome being some % of our total DAO bank, held in token sets, inside of a Moloch v2.
Process would be as follows: (very open to input here, especially from team Odyssy and more technical folks)
- Summon a Moloch v2 DAO, MetaCartel v2
- Assign everyone shares 1:1 to their shareholding in MetaCartel v1
- Then create a proposal in v1 to withdraw 25%? (open to discussion) of the DAO ETH, to be sent to the v2 DAO.
- Create a proposal in v2 to convert this deposited ETH into an ETH:Stablecoin set.
- Everyone would then have equal share weighting in the new v2 MetaCartel, without having to do anything.
We would then have ~75% of our ETH inside of the v1 DAO and ~25% of our ETH inside of the v2 DAO, meaning we’d then have two DAOs – One to test v2 and be the provide funding to initiatives and the other to hold our long-term ETH (v1).
Hopefully this all makes sense as a plan, it would be good to talk through it on the weekly call, plus have any/all thoughts thrown on this post. Basically, this proposal:
- Gives us opportunity to start to leverage the new features available with v2.
- Gives us the ability to manage our treasury using set protocol / other means in a low friction way.
- Doesn’t force us to totally migrate to a v2 DAO straight off the bat, having v1 and v2 operating at the same time.
- Discussion needed around how the final migration from v1 to v2 would happen > Future discussion.
Keen on feedback! If the above makes sense, happy to start the process