[1RC] Self - Earning DAO Engine V1.0

8200-verifygreen Stage 1 Post

8147-verify-blue Simple Summary


This proposal calls for the Deployment of 1inch Treasury Self - Earning Engine

1476-verify-green Motivation


The 1inch Treasury currently sits IDLE, staring at $15 Million

With the 1inch DAO Treasury’s Historical Rate of Growth , it’s a Perfect Time for immediate action to Support & open new gateways for the Ecosystem in Multiple Ways via Properly utilizing this Ultimate Source in a Proper Manner to generate an Alternate revenue stream

4181-verify-pink Abstract


1inch Treasury differs from other DAO treasuries , both in How it Generates its revenue [Swap Surplus - Smart] & How it has kept Value During Market Turmoil we’ve seen since Last Year while some DAOs are struggling with the same.

1inch Treasury as of now is the Only Treasury in Whole DEFI Still in Surplus profits because of the Decisions Made by Founders & DAO members to allocate Treasury in Stable

While Staking Rewards got wiped out for a While & Treasury is getting FAT by each day. It’s time to take a step further in the process to generate alternate sources for more revenue for the Treasury for its Long Term Sustainability. Thus, leading to the creation of this very proposal.

5171-verify-green Specification


Strategy Layout



Proposal Action items :

  • Vote for DAO Treasury % Allocation
  • Choose & set up Committee | The Triad
  • Decide on Collaboration or Follow up with Selected Protocols

DAO process : Proposal \ Voting \ Filteration \ Selection \ Announcement

Dev Team Tasks :

  • Analytics Dashboard UI - Treasury Breakdown , Selected Projects , Allocation Size
  • Reassessment UI - Project Health Factor , Contract Changes Detection

1. Treasury Fund Allocation %Age :tophat:

Deciding how much Treasury Funds should be deployed for this strategy .
Decision Pending . Previous poll showed an inclination towards 2 options. Close call

Final Voting -

Treasury Fund Allocation -
  • :blue_square: More than 50%
  • :green_square: More than 80%

0 voters


2. APY Selection :briefcase:

  • Voting Conclusion passed with A Majority in favor of :

Medium APY then Low APY .Thus ,
Hard Floor Set for APY = Less than 30%

Examples :
Low APY project = 1inch earn
Medium APY project = Bancorv3 USdC pool

3. Diversification Quota :ice_cube:

Ceiling for the Amount of Protocol Applicants to be Selected under Medium & Low APY Categories

  • Voting Conclusion passed with A Majority in favor of :

More than 5 Projects in each category

4. Projects Reassessment :memo:

  • Voting Conclusion passed with A Majority in favor of :

Biweekly Assessment of Selected projects

2155-verify-green The Triad - Filteration \ Selection \ Announcement


Will help in the selection of assets , selection of protocols where those assets can be deployed as well as deciding upon risk tolerance and asset restructuring of the treasury. Short-term trades are excluded and only assets with long-term holding periods are considered.

Formation -

:one: 1inch High Table called High Command :man_judge:t2:
:two: 1inch Committee called 1inch Berserkers :man_guard:t2:
:three: 1inch Investigators called 1inch Watchtowers 🕵🏻‍♂


:one:1inch High Table called High Command :man_judge:t2:

:necktie: Main :


  • A consortium of DAO members , Existing 1inch Multisig. & 1inch Contributors Verifying the submissions & Reports

:dolls: Setup :


  • No. of members should be no less than 7

    • a. 3 chair reserved for dao members
    • b. 3 chair for 1inch contributors
    • c. 1 chair for multisig
  • Amount of power distribution -

    • Voting Conclusion passed with A Majority in favor of :

      40[a.] 40[b.] 20[c.] , where 60% quorum [a.]+[b.] is required to pass

  • Veto -

    • Voting Conclusion passed with A Majority in favor of :

      Apply Veto ,1inch Multisig[c.] have the right to veto in case of malacious submission

:gloves: Tasks :


  • Decide the Members of 1inch committee
  • Analyze Project Submission requests of 1inch committee
  • Analyze Reports of 1inch Watchtowers

:two: 1inch Committee called 1inch Berserkers :man_guard:t2:

:necktie: Main :


Start the Hunt in the search for Best protocols & Examine Several Instruments offered by such Protocols Under a Deadline set by the HC { Approve/Disapprove Submissions within a reasonable time frame }

:dolls: Setup :


Generally Appointed by HC

  • Share the PGP public keys - using 1inch committee tools or else.
  • Share Twitter or Github accounts of the committee members
  • Commit at least X Amount 1inch tokens [ If necessary ]
  • Share a Multisig address of the committee members - Rinkeby and Mainnet.
  • Could be 1inch Staff & Dao members or Other project Members etc.

:gloves: Tasks :


  • Report Projects to High Command after proper & careful research
  • Set up repositories & other details under review in below template
  • Be responsive via telegram , discord , forum etc

Template to be used for project submission :

Template

Project Name :
Docs Link :
Founders/Team Info :
Founded : Deloyment Age of the protocol
Instrument Type : Options , Leverage , Farming , Lending , Borrowing etc
No of Exploits : Major , Minor , Critical , None
Expected APY - Low , Medium , High
Number of Audits & Reports link -
Latest Audit Scores - Certik etc.

:three: 1inch Investigators called 1inch Watchtowers 🕵🏻‍♂️

:necktie: Main :


1inch Watchtowers🕵🏻‍♂️ can vote for objection for the Exclusion of a specific protocol & submit a proper reason for it 5 days before the Temp check of the Project list generated by HC

:dolls: Setup :


  • Can be Anyone. Even Anonymous.
  • HC doesn’t have any influence over 1inch investigators & abides to work freely

:gloves: Tasks :


Objection Report Submission to HC in a Proper Template block

Submission Template

Protocol Name -
Objection -
Details -
Severity - L ~ M ~ H ~ Critical
Ways to rectify - if any


:brain: Note -

  • Reports will then be examined by HC & if the Reason is justified & Severe, will remove that Protocol from the current voting until the decision or to next voting until Rectification or can be excluded permanently until Rectification .

  • Reward Distribution to Watchtowers for Successfully Approved Allegations .


:gem: Extra Rules -

  1. Contributors can’t occupy the DAO chair
  2. Re-election in case of a bad actor spotted on the chair & all other votings will be put on hold until the High Table chair is full
  3. A 2 contributor reference vote can directly reserve 1 Chair of DAO

:signal_strength: Triad Location

Triad members’ Discussions will be held in a #treasury channel which is only accessible to committee level members with following sub Section -

  • Discussion
  • Submissions | open & moderated
  • Final List

:brain: Note - better places May be explored by the 1inch team in the near future

:wheelchair: Tenure of The Triad

  • 1inch committee & 1inch Watchtowers will not have any tenure as their Sole purpose is submissions to HC

  • Only HC DAO seats will have a period [ Full Quarter ] after which anyone can challenge/apply for the DAO chair under HC .

:baggage_claim: Transparency & Financial Reporting


Initially, We will present Treasury info over an official Debank profile or Google sheets. A bit more elaborate and complex financial reporting to arrive in the future as we gather the best practices from the industry. Metrics, when expanded, will include forecasting expenses, remaining runway, and similar. This may include a proper Dev task to set up a Proper UI.
Dashboard/Insights

:white_large_square::footprints: Next Steps after Snapshot -

Upon passing a signaling snapshot poll, we may begin diversification discussions with interested parties. As allocations are agreed upon and undertaken, they will be shared on the 1inch forum and channels.

Future
  • *Allocation of 100k from the treasury to incentivize participation of the Triad Distributed after the Treasury Allocations are Finalized.

  • Introduction of 1inch Relief Fund War chest [TBD after Snapshot]

:man_mechanic:t2: Developer Tasks -

Summary

if the idea passes, we can work for full implementation of such a Dashboard in UI that will include the following -
Active Analytics Dashboard showing -
Current allocation of Treasury
Projects
Funds allocated to diff projects
Current risK scores
Interest Accuring Data etc.

7485_verifiedorange Benefits to 1inch Community


  • DAO earnings can directly be shared with 1inch stakers with 0 impacts on treasury
    Offers another functionality to the 1inch token.
  • A New attraction to the 1inch platform
  • More Trading Volume Surge will benefit 1inch Stakers in DAO
  • More Participation in governance as more people holding 1inch tokens

4181-verify-pink Considerations


  • If the Health Factor of a Project Drops -

    • Kickstart 100% Funds Extraction from the Affected Protocols at once with No delay .

    • After Extraction , A careful restructuring will be proposed & after agreed upon between the committee members, 1inch Team will cast a snapshot vote with the whole DAO with a minimum of 2 days duration period. After that, the restructuring will be implemented.

:brain: Note -

RESTRUCTURING Includes Exclusion in case situation is severe or Reinclusion in case of False Alarm

  • Treasurer -

It is also suggested to have the role of the treasurer, which guide discussions about treasury management and executes liquidity rebalancing. Better suited for 1inch Team.


This Code Block will be Used for Snapshot Voting Page
[Stage 1 Post](https://gov.1inch.io/t/tip-self-earning-dao-engine-v1-0/3145)

# Simple Summary 

---
This proposal calls for the Deployment of 1inch Treasury Self - Earning Engine

# Motivation 

---
The 1inch Treasury currently sits IDLE, staring at $15 Million

**With the 1inch DAO Treasury’s** historical rate of growth, it's a Perfect Time for immediate action to Support & open new gateways for the Ecosystem in Multiple Ways via Properly utilizing this Ultimate Source in a Proper Manner to generate an Alternate revenue stream

#  Abstract 

---
**1inch** Treasury differs from other DAO treasuries , both in How it Generates its revenue [Swap Surplus - Smart] & How it has kept Value During Market Turmoil we've seen since Last Year while some DAOs are struggling with the same.

**1inch** Treasury as of now is the Only Treasury in Whole DEFI Still in Surplus profits because of the Decisions Made by Founders & DAO members to allocate Treasury in Stable

While Staking Rewards got wiped out for a While & Treasury is getting FAT by each day. It's time to take a step further in the process to generate alternate sources for more revenue for the Treasury for its Long Term Sustainability. Thus, leading to the creation of this very proposal.

#  Specification

---
# Strategy Layout -
----
**Proposal Action items :**

* Vote for DAO Treasury % Allocation
* Choose & set up Committee | The Triad
* Decide on Collaboration or Follow up with Selected Protocols

**DAO process :** Proposal \ Voting \ Filteration \ Selection \ Announcement 

**Dev Team Tasks :** 

* Analytics Dashboard UI - Treasury Breakdown , Selected Projects , Allocation Size
* Reassessment UI - Project Health Factor , Contract Changes Detection
---

> **1. Treasury Fund Allocation %age**

Deciding how much Treasury Funds should be deployed for this strategy . 

* *Voting Conclusion passed with A Majority in favor of :*

🟦 More than 50% *
🟩 More than 80%  *

* Only 1 out of 2 , According to Majority Vote
---

> **2. APY Selection :**

* *Voting Conclusion passed with A Majority in favor of :*

Medium APY then Low APY .Thus , 
`Hard Floor Set for APY = Less than 30%`

Examples :
`Low APY project = 1inch earn`
`Medium APY project = Bancorv3 USdC pool`

> **3. Diversification quota 🧊**

Ceiling for the Amount of Protocol Applicants to be Selected under Medium & Low APY Categories

* *Voting Conclusion passed with A Majority in favor of :*

`More than 5 Projects in each category`

> **4. Projects Reassessment**

* *Voting Conclusion passed with A Majority in favor of :*

`Biweekly Assessment of Selected projects` 



#  The Triad - Filteration \ Selection \ Announcement

---


Will help in the selection of assets , selection of protocols where those assets can be deployed as well as deciding upon risk tolerance and asset restructuring of the treasury. Short-term trades are excluded and only assets with long-term holding periods are considered. 

**Formation -**
A. 1inch High Table called High Command :man_judge:t2:
B. 1inch Committee called 1inch Berserkers :man_guard:t2:
C. 1inch Investigators called 1inch Watchtowers 🕵🏻‍♂️

---

> **A. 1inch High Table called High Command** :man_judge:t2:

**`Main :`**

* A consortium of DAO members , Existing 1inch Multisig. & 1inch Contributors Verifying the submissions & Reports

**`Setup :`**

* No. of members should be no less than 7

  *  a. `3 chair reserved for dao members`
  *  b. `3 chair for 1inch contributors`
  *  c. `1 chair for multisig`

* Amount of power distribution -

  * *Voting Conclusion passed with A Majority in favor of :*

    `40[a.] 40[b.] 20[c.]` , where 60% quorum [a.]+[b.] is required to pass

* Veto -

  * *Voting Conclusion passed with A Majority in favor of :*

    `Apply Veto` ,1inch Multisig[c.]  have the right to veto in case of malacious submission

**`Tasks :`**

* Decide the Members of 1inch committee
* Analyze Project Submission requests of 1inch committee
* Analyze Reports of 1inch Watchtowers

> **B. 1inch Committee called 1inch Berserkers** :man_guard:t2:

**`Main :`**

**Start the Hunt** in the search for Best protocols & Examine Several Instruments offered by such Protocols Under a Deadline set by the HC { Approve/Disapprove Submissions within a reasonable time frame }

**`Setup -`**

Generally Appointed by HC 
  * Share the PGP public keys - using 1inch committee tools or else.
  * Share Twitter or Github accounts of the committee members
  * Commit at least X Amount 1inch tokens [ If necessary ]
  * Share a Multisig address of the committee members - Rinkeby and Mainnet.
  * Could be 1inch Staff & Dao members or Other project Members etc.

**`Tasks -`**
* Report Projects to High Command after proper & careful research
* Set up repositories & other details under review in below template
* Be responsive via telegram , discord , forum etc

`Template to be used for project submission :`

[details="Template"]

**Project Name :**
**Docs Link :**
**Founders/Team Info :**
**Founded :** Deloyment Age of the protocol
**Instrument Type : Options , Leverage , Farming , Lending , Borrowing etc**
**No of Exploits : Major , Minor , Critical , None**
**Expected APY** - Low ,  Medium , High
**Number of Audits & Reports link -**
**Latest Audit Scores - Certik etc.**
[/details]

> **C. 1inch Investigators called 1inch Watchtowers** 🕵🏻‍♂️


**`Main -`**

1inch Watchtowers🕵🏻‍♂️ can vote for objection for the Exclusion of a specific protocol & submit a proper reason for it 5 days before the Temp check of the Project list generated by HC

**`Setup -`**

* Can be Anyone. Even Anonymous.
* HC doesn’t have any influence over 1inch investigators & abides to work freely

**`Tasks -`**

Objection reports Submitted to HC in a Proper Template block
[details="Submission Template"]
Protocol Name -
Objection -
Details -
Severity - L ~ M ~ H ~ Critical
Ways to rectify - if any
[/details]

* *Note -*

  * Reports will then be examined by HC & if the Reason is justified & Severe, will remove that Protocol from the current voting until the decision or to next voting until Rectification or can be excluded permanently until Rectification .

  * Reward Distribution to Watchtowers on Successfully Approved Allegations .

---

**Extra Rules -**
1. Contributors can’t occupy the DAO chair
2. Re-election in case of a bad actor spotted on the chair & all other votings will be put on hold until the High Table chair is full
3. A 2 contributor reference vote can directly reserve 1 Chair of DAO

> **1. Triad Location**

Triad members' Discussions will be held in a #treasury channel which is only accessible to committee level members with following sub Section -

>* Discussion

>* Submissions | open & moderated

>* Final List

*Note - better places May be explored by the 1inch team in the near future*

>**2. Tenure of The Triad**

* 1inch committee & 1inch Watchtowers will not have any tenure as their Sole purpose is submissions to HC

* Only HC DAO seats will have a period [ Full Quarter ] after which anyone can challenge/apply for the DAO chair under HC .

# Transparency & Financial reporting

---
Initially, We will present Treasury info over an official Debank profile or Google sheets. A bit more elaborate and complex financial reporting to arrive in the future as we gather the best practices from the industry. Metrics, when expanded, will include forecasting expenses, remaining runway, and similar. This may include a proper Dev task to set up a Proper UI.
Dashboard/Insights


**Next Steps after Snapshot -** 

`Upon passing a signaling snapshot poll, we may begin diversification discussions with interested parties. As allocations are agreed upon and undertaken, they will be shared on the 1inch forum and channels.`


[details="Future"]

* *Allocation of 100k from the treasury to incentivize participation of the Triad Distributed after the Treasury Allocations are Finalized.



* *Introduction of 1inch Relief Fund War chest [TBD after Snapshot*]

👨🏻‍🔧 **Developer Tasks -**
[details="Summary"]
if the idea passes, we can work for full implementation of such a Dashboard in UI that will include the following -
**Active Analytics Dashboard showing** -
Current allocation of Treasury
Projects 
Funds allocated to diff projects
Current risK scores
Interest Accuring Data etc.
[/details]
[/details]


#  Benefits to 1inch community

---
* DAO earnings can directly be shared with 1inch stakers with 0 impacts on treasury 
Offers another functionality to the 1inch token.
* A New attraction to the 1inch platform 
* More Trading Volume Surge will benefit 1inch Stakers in DAO
* More Participation in governance as more people holding 1inch tokens


#  Considerations

---

* **If the Health Factor of a Project Drops** -

Kickstart 100% Funds Extraction from the Affected Protocols at once with No delay .

After Extraction , A Careful restructuring will be proposed & after agreed upon between the committee members, 1inch Team will cast a snapshot vote with the whole DAO with a minimum of 2 days duration period. After that, the restructuring will be implemented.

RESTRUCTURING Includes Exclusion in case situation is severe or Reinclusion in case of False Alarm

* **Treasurer** -

It is also suggested to have the role of the treasurer, which guide discussions about treasury management and executes liquidity rebalancing. Better suited for 1inch Team.
5 Likes

NGL This is Looking Awesome & Pretty well made now .
Really eager to see this over Trials …
@jisalazar @3.1415r @ma70_supra @RoundElephant @tradersnow @Natalia @kravi Thoughts ?

5 Likes

I like it as well. I like the outline and the structure. The triad roles are clear and their purpose is as well. I think we definitely have a contender here. This is something that generates revenue, could bring in new and old holders and get people excited about staking and being in the DAO. I think if we gave an example of potential revenue for 6 month period, this could help make things more tangible for some poeple as well. Say X Amount, invested at x% for 6 months, could potentially yield X per 1000 1inch staked. I’m just thinking out loud. As is stands, it could definitely be voted on to go forward. Any other ideas out there? Good job, @Genkai.Shogun !

4 Likes

Great proposal, I am very supportive.

We may went to include an explicit concentration limit in addition to the diversification quota (e.g. no more than [7.5%] of the invested treasury can be allocated to any single opportunity)?

And explicitly restrict the list of stablecoins the treasury funds can get exposure too (maybe USDC, DAI, FRAX to start, and the list can be extended later following the Triad approval process)?

5 Likes

Roxan, thanks for the opportunity to voice my opinion.
To be honest, I’ve been reading Shogun and Roxan’s posts of late.
I haven’t been able to keep up with my knowledge :joy: They are both great.

The part of this proposal that I find so brilliant is…
I understood that it takes into account that the decisions the DAO will make in the future will not always and permanently be correct. That’s what I found wonderful about it, because I am a worrier.

This industry is still unsettled and major newsworthy incidents are happening every year, and with the recent TerraUSD de-pegging incident, I am concerned about using outside projects anyway,
but in the extreme, would you choose to shut down completely to eliminate the risk altogether?
If you ask yourself, sure…I would come to the conclusion that a certain amount of risk is unavoidable.

4 Likes

I was actually thinking on the same Note but i think it may depend on the Type of protocol & how good it is in terms of security . BTW Divs. Quota already planned no less than 5 protocols for each category so if Treasury allocation is near 80 that means per project allocation will be less anyway

I was always a bit reluctant in choosing any coin other than USDC [circle] or BUSD [paxos] btw
But UST scenario shown which stablecoins are the best & worst . Might help a lot in choosing .

Same , I was also not convinced to use outside projects for treasury but i think it actually seems to be pretty flexible like using Diversification & Health factor & Project reassessments .

IMO such things can really reduce the amount of danger they pose during an incident .

For example , Pulling out funds the moment Health Factor starts dropping . This actually made me feel a bit better . like during UST depeg some VC pulled out all money the moment ust gone 0.8$ or something & thus saved themselves from a Major Loss

3 Likes

A big clap for such a thorough proposal @Genkai.Shogun

I guess I got a chance to make a comment or two, as below.

Optimal allocation can be what’s left of treasury funds, after enough has been kept aside for meeting the next 6-12 months runway & any other contingencies.

Also, as previously pointed out in phase 1, timing can be too crucial, whenever it’s … eg., when there’s a sudden change in health factor! Wish that’s too addressed here.

The designated HC team should be able to take responsibility, and act at once, to avoid any extreme situation, without awaiting luxury of snapshot poll. What do you say?

4 Likes

This comment gave me an idea.

Unlike the stock market, the cryptocurrency market does not have time to rest, so it is impossible to predict which time zone an incident will occur in.
I was wondering if the HC team could be selected from a variety of time zones to handle this?

I can imagine that if a small number of committee members were all spread across different time zones, it would be difficult to coordinate… so in the end, it would be a matter of finding the right balance…

3 Likes

I propose immediate extraction of funds from the affected project or contract at once with 0 delays until the situation is either clear or rectified .

Added .

I don’t wanted it to be burden . And it’s possible the way 1inch contributors co-ordinate with being inside diff zones , we can apply same strategy b/w the Members of HC too .

4 Likes

Fair point ! Sudden Drop mean just take out all without having second thoughts at all cost
Lesser the obstacles in pulling out money , the better .

After pulling money , we can decide what do next . but rescuing Funds take priority

3 Likes

BTW what happens if options tie again ?

1 Like

It can , but in that scenario our only option i feel would be right is to push this poll over to Snapshot Votings for THE FINAL DECISION .

2 Likes

This proposal is coming together really well. I’m happy to see the input of a solid group of members. What are the next steps needed to push this along? I firmly believe that this could really be positive for the project. We can even market it and spotlight it and give it an extra push once it’s finalized. Maybe with the help of the 1inch dev team.

3 Likes

Phase - 3 Temp check if @RoundElephant gives a Green Light :green_heart:

3 Likes

I was unable to find such a strategy in any of defi protocols so far as i tried to look out for similar strategy last night. I’m curious to learn if this is an entirely new ONE made from scratch or what .

But if it is then i think we should give this a try … Also I Request @RoundElephant team to please post its temp check on 1inch social media portals so that we dao members can flesh out even better from more better suggestions as visibility to forum is still low …

At last . It’s a significant change to Treasury model revenue so it must be dealt softly

2 Likes

TL:DR After reading the proposal 1IP-10 we believe that it could well go hand in hand with our 1IP-08 and complement one another so that you can obtain a “Self-earning DAO Engine” with the most flexible and agile operational infrastructure.

We had previously assumed that asset management service would be a valuable addition in the absence of a dedicated treasury committee but we are happy to support by being a part of the Triad ourselves or just volunteering our support.

The asset management layer Avantgarde proposed (and associated fees) is not necessary if 1inch DAO has the capacity to manage its own treasury. The High Command, Berserkers and Watchtowers (the Triad) can use the Enzyme DeFi infrastructure in an autonomous way too and derive certain benefits from doing so. To list a few:

Operations
The strategies described in 1IP-10 would be operationally complex to implement. Owning an Enzyme vault via Gnosis and executing on decisions via permissioned delegation (which can be one or more members of the Triad) looks like a simpler way to implement your proposal.

Delegating trading to a member of the Triad can come with permissions and controls that the Gnosis Safe (owner of vault) can switch on and off. For example, one can specify that Bob has control to manage 100 ETH with a subset of protocols available on Enzyme. Bob is not allowed to trade any other assets or with any protocols other than those specified.

Another example could be Sam can trade or interact with any asset/DeFi protocols she wants but if she loses 5% in trading slippage on any 7 day rolling period, her trading permissions are revoked.

These permissions and controls are easily configurable and customisable.

Reporting
The reporting seems like it will be time-consuming and hard to keep track of via Debank or Google Sheets. Enzyme provides 24/7 real time NAV which aggregates all positions into a single dashboard. It also connects with 7 subgraphs to provide accurate and traceable historical on-chain data. This enables you to capture your DeFi performance history in an easily auditable manner and report it transparently among Triad members and the wider 1inch community.

Allocations
Looking at the specific DAO strategy / protocol choice, you lean towards “Medium APY Projects”. This is already plug & play with Enzyme via the protocol’s connectivity to Curve, Convex, Maple, Idle, Yearn and more.

All in all we believe that we could be of added value to your proposal and would love to help. We’re also happy to answer any questions you might have regarding Enzyme and its features or to share a demo on a community call or otherwise if you might find it helpful.

4 Likes

Great to know more about Enzyme DeFi Infrastructure. It certainly sounds to be a very much battle-tested, and i doubt if there’s any close competition to it.

Having said that, many in the forum, already expressed their unwillingness to even consider the idea of outsourcing. I presume, their reasons are well justified.

I suggest both sides to be open to other side’s vantage point, and see how both can stand to benefit, and help the cause of 1inch DAO.

I guess, it does not hurt, to have a demo, and an objective discussion.

What you guys say?

2 Likes



@0x7751 I think we can make arrangments for next DAO Call to invite Enzyme Finance Team to handle the questions of community members. If not all , I think we can actually use their expertise to form a Custom Made treasury managment tool for 1inch that fits to this proposal and even enable 1inch grants etc. for them to work on it .

Even tools like Bancor’s DAO Treasury Management Solution can help

Also , While other treasuries are in native tokens . They have to deal with lots of things but Having 1inch Treasury in USDC from the start helped a lot & Thus we don’t need much complex strategies for yield generation .

Also , We have 1inch earn that already incorporated a Trading Strategy .

UI

and so I believe 1inch Treasury is Unique & thus needs a Unique Treasury management solution ever created before

4 Likes

hey, @Genkai.Shogun I really like your proposal and believe that we should implement some of these strategies to attract more people to the 1Inch token and the network
, and here are my comments,
my concerns are all rolling around

  1. Risk and implied benefits
  2. potential centralisation of the DAO implication to the DAO

first of all, the 50%-80% quote of the DAO treasury is too high to Degen with. in my opinion we should definitely reduce that amount to a viable form and have proper risk mitigation strategies implemented not just at the Triad level but in the DAO as a whole. and about the benefits of doing this, Degening,
I can’t see how the treasury (not the 1inch stakers) is benefiting from this at all. since most are paying out to the 1inch stakes and the treasury is risking liquidation of 50-80% of its holdings.

Speaking about triads, I think we are building unnecessary, hierarchical structures that fundamentally oppose the ethos of a ‘DAO’. well, it’s argumentative what the D in a DAO stands for but in my opinion, it’s a trustless nature where there isn’t any single point of failure. What I propose instead, is a treasury guild or office which doesn’t have the above-mentioned hierarchical structure and is open to everyone to handle the Diversification of the 1InchDAO treasury.
Speaking about Diversification we are probably the only protocol DAO (which I know of) that doesn’t have a single governance token of its own in the treasury. (it might be good as our treasury won’t shrink 50% overnight).

some tools to consider if we are planning for diversification: 1. llama.xyz, element.fi and Enzyme

2 Likes

Yea we’d love to chat on a community call or similar. Let us know where and when!

5 Likes