DAO Treasury Task Force Extension Thread

Proposals by Gotchi Gov'nuhs
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Hi frens, in Chapter 2 we proposed that 10% of the Gotchus Alchemica supply be vested over 30 years to be used for Ecosystem purposes. The primary goal of this allocation is to ensure excellent long-term liquidity across many platforms, including the GAX, various DEXes on Polygon, Mainnet, and even CEXes.

Those who follow the project carefully know that we always try to do everything “by the book”, to make Aavegotchi a model case study for decentralization and legal compliance. We are currently in the final stages of setting up a new legal wrapper for AavegotchiDAO (more specifically, a Panama Foundation) and will soon be making an announcement for applications to serve.

On the technical side, we are also working to implement onchain governance of the Aavegotchi protocol. However, this will take some time, as it requires upgrades to the deployed GHST token on Polygon.

While all of this is happening in the background, we are also launching FIVE new ERC20 Alchemica tokens and locking a sizable amount of them into vesting contracts.

For both legal and strategic reasons, we believe that the Ecosystem allocation should not be managed by Pixelcraft, but instead by AavegotchiDAO. The DAO Treasury Force has already been created to manage some of the DAO treasury, but the number of signers is quite few (six) and in my opinion insufficient to hold such a sum of funds.

Therefore, I propose we create an additional multisig under the current DTF, with fifteen signers instead of the current six. Twelve out of fifteen signatures would be required to confirm transactions.

This multisig would be the beneficiary of the Ecosystem Vesting Contract (which holds 10% of each Alchemica’s token supply, vested over 30 years), and could also inherit the 1M GHST originally allocated during the GHST creation for Ecosystem building, to help bootstrap Alchemica liquidity.

On our side, we will deploy the Alchemica and create initial liquidity pools on Quickswap, after which we will transfer ownership of the vesting contract to the multisig. After that point, it will be up to the DTF to coordinate liquidity provision.

Please discuss this proposal here in this thread and signal why you’d like to be elected as an initial member of the multisig. Technical knowledge of operating a multisig and liquidity provision is suggested, but not required. After 10 days of discussion, we will create a Snapshot election with all of the members who have signaled.

If we do not reach a threshold of 15 community members wishing to join the multisig, then Pixelcraft will retain ownership of the Ecosystem vesting contract until a proper multisig can be formed.

Let’s goooo Gotchigang!

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Your humble servant reporting for duty frens. Currently on the Frens task force, and Wearables task force. Provided I’ll be safe and in good health for the next 30 years, available to sign off on a transaction anytime.

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Yeah I’m definitely down to sign Txns and lend security! I have some experience with Gnosis if it helps

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Count of Monte Cristo reporting for duty! I have experience using Gnosis and I’m part of a few guilds. Regarding the possibility of leaving, unless I die unexpectedly, I’m not the kind of person to forgo obligations without first transferring them in a responsible way.

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I would love to be considered to contribute as a trusted signer. I have been a very active member of the Aavegotchi community since mid 2020 and am a current gnosis signer for a large Aavegotchi Guild.

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I go by PG in the discord and have been a commited member of the community for almost a year now. I worked on the multisig setup for our guild and am one of the current signers. Extending the offer to the DTF only seems natural so I’d be happy to contribute

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Would love to help out and join the signers, long term aavegotchi community member and contributor here focused on continuously growing the ecosystem.

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GOTCHIGAANG! I’m also a longtime dedicated member/aagent and also a signer for a guidl gnosis already. Hapi to help keep it safe and contribute time. Aavegotchi was my first project to dive into and am dedicated to the community.
cheers frens!
tburd.eth#0001
gotchi 7673…

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I’m happy to put my hand up for this. Have plenty of experience using Gnosis Safe previously when I was part of the frens taaskforce and currently with the WAGMI Warriors guild. Long-term member of the community, with a decent-sized investment in Aavegotchi and time investment in the creation of tools and content for the ecosystem.

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I’d be glad to be a signer, I have experience with Gnosis Safe. I’m a treasury signer for WAGMI Warriors guild. I’ve been involved in the community before the migration to Polygon.

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I’d be happy to sign on here. I’m on frens task force, wearables task force, and long time community member. I have limited experience with the technical side, but am a GHST permabull and fairly big investor :slight_smile:

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Providing liquidity is inherently risky because of the possibility of impermanent loss. Are these treasury funds only be managed with the sole goal of providing the maximum amount of liquidity? How important is it to make a market when buyers and sellers disagree widely on the price of an asset? Might the legal liability for such losses be one of those “legal and strategic” reasons for which Pixelcraft doesn’t want to manage it.

I can see this committee making decisions that have far ranging consequences on the volume of trading in the game, the price of tokens, and the valuation of assets. We also have to ask ourselves if the creation of derivative markets for Alchemica, which LPs would facilitate, is something desirable for the long term success of the game.

These funds should be managed very conservatively, leveraging through borrowing against them should not be permitted. Liquidity should be provided sparingly at first. Preserving these funds should be an additional goal to that of providing liquidity to the market.

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I don’t think there’s any designation for this extension committee to actually DO anything with these funds yet. But control over the funds must be assigned to SOME address, so making the multisig now makes a lot of sense. I think this extension should be seen as a multisig that exists solely to secure funds and release them when the Aavegotchi DAO comes to a decision on how to use it. This appears to be reflected in the extremely high confirmation threshold for the multisig.

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Aavegotchi and a crypto stonk 401k are my only investments. This has my full focus and is the only thing Im dcaing.

I have gnosis experience, am a signer on the guild multisig(never been more than 8 hours for me to sign, usually right away)

Im an IT manager and hobby coder and EW TA margin trader that makes his own indicators and has deep market knowledge and experience with at least even cexs and 4 dexs.

Im addicted to learning and understanding things and I respond to conflict by learning more about both sides, so I make a good resource on a team.

Im located in Sacramento, CA

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Hey @coderdan you mentioned this as being something you might be looking for in a possible extended member of the DAO Treasury Taask Force:

Technical knowledge of operating a multisig and liquidity provision is suggested, but not required.

Just curious, it seems the core DTF members would remain the active team who would introduce new ideas/strategies, open them for discussion and create proposals. And the extra signers (extended members) will not be a part of the runnings of the DTF per se, but more like responsible members of the Aavegotchi community who are readily available and committed for the long-term who can act as trusted signers, as suggested by the quote above. Does this seem accurate?

Thank you fren.

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signing as a candidate!

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You just answered my question during the hangout. Thank you fren :slightly_smiling_face:

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I would def be interested. Going strong over at 8bitgg and would love to be more involved with the greater community. Been in crypto for a decade and def understand key management etc.

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I also want to put myself up for vote.
I am an derivatives-trader since age eighteen, in crypto since about two-and-a-half years.
In a former life CS-specialist.
Doxed to Pixelcraft.
Since march of last year… now about 70% of my crypto-holdings are in Aavegotchi (ratio growing…)
I am considering Aavegotchi to be my retirement and my legacy for my kids :slight_smile: - so I am quite happy with the 30 year plan.
In the Discord I am Nestor#0726

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Thanks for your signaling everyone! We’ll set the cutoff time 12 hrs from this post, and plan to put out the Snapshot vote early next week.

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