The proposal suggests a treasury management infrastructure approach and states the required solutions from the platform point of view.
Coming up with the proposal for treasury infrastructure we keep in mind the following ideas:
- Be on-chain
- Fully community government
- Avoid gas fees for voting
- Fraudulent transactions resistant
We believe that a treasury management infrastructure that is based on those principles will allow us to build a sustainable platform that the community trusts and is secure to resist any potential malicious actors.
The current proposal is going to introduce a treasury management infrastructure.
NOTE: From the process perspective, treasury management is a part of the general governance process and must follow its rules.
The treasury infrastructure consists of the three layers that allow automatically and securely translate off-chain voting into on-chain execution:
- Snapshot is one of the most popular and convenient platforms for voting. It has been proved its status and become de facto a standard in DAO governance
- Gnosis Safe
- The trusted platform to manage crypto assets with over $100B worth of digital assets stored. Gnosis Safe is a smart contract wallet running on Ethereum that requires a minimum number of people to approve a transaction before it can occur (M-of-N).
The detailed process of the treasury management is presented below:
GuruDAO treasury is 100% on-chain and community governed. Using the SafeSnap module from Gnosis, off-chain votes can be handled and processed for on-chain execution. For vote collection and verification, Snapshot is used by the DAO while the funds are stored in a Gnosis safe. As a safeguard, multi-sig is set up so that the owners are able to veto malicious actions and have power in the case of an emergency.
SafeSnap safeguards are Gnosis Safe multisig owners that have a responsibility to review transactions and veto power to stop malicious ones in case of emergency. They do not have the power to execute any transaction on their own. The whole treasury management process is strictly tied with the general governance process.
The list of safeguards will be ratified additionally in a separate proposal.
- The platform deployment will occur when all the required smart contract details will be defined by GuruDAO.
- The proposal suggests a lean and transparent process of treasury management where all key feature is taken into consideration.
- The proposal doesn’t specify future safeguards/multisig owners, it should be considered in a separate proposal.