Currently, Push DAO lacks a clear understanding of its financial status, and proposals are vague about their financial impacts. To ensure long-term sustainability and informed decision-making, it is essential to have insight into the current state of DAO spending. This initial discussion aims to progressively introduce a much-needed transparency into the DAO’s financial state and spending in a timely and recurring manner.
As mentioned in the Retroactive Contributor Compensation System post, these are challenging times for many projects in the web3 space, and Push was unfortunately affected by the events surrounding WazirX. Despite this, we continue to see numerous initiatives with associated expenses. However, all stakeholders remain in the dark regarding financial transparency.
Tools like Coinshift, Powerhouse, and others already make it easier to create financial dashboards for DAOs, providing the transparency we seek. However, starting with a monthly financial report would be a great first step.
(Refer to this dashboard reference Decentraland DAO)
I’d like to propose a few initial topics of interest to get started and then expand from there:
What is the DAO treasury address?
Who are the current signers?
What is the Grants wallet address?
How much is allocated to Grants per month?
Who are the grantees, and what is the ROI for each grant?
What is the Ambassadors Program wallet address?
What are the monthly expenses associated with the Ambassadors Program?
Who are the paid contributors by Push DAO?
What are their compensations?
I’m not suggesting stopping any programs. This is a call for transparency, as all stakeholders have the right to know how the DAO treasury is being utilized.
Hi @Ruteeko first of all welcome. Haven’t seen you around before.
We’re early and these have been the first two months of operations under Push DAO’s revamped governance. We love and take to heart all input.
More context would be helpful first, because for example, the community at-large is not, sentiment-wise, judging by past votes and initiatives, “in the dark.” All grants are transparent. All proposals are done on the forum. All systems in play are publicly explained.
Any proposed changes can go through the formal governance process of a community sentiment vote, resulting in a super-majority “yes,” meaning a formal vote can take place, as is the norm. And that’s the beautiful thing. It is all up to the community.
There are many stakeholders involved. Push DAO is fully community run and I’m the only contributor who fully straddles the lines of the Foundation and the Community.
Wazir X was purely an exchange side issue.
We’re happy to further discussions as with any proposal. That’s the beauty of DAOing, what the community as a majority wills, can happen. Overall our spend is quite low as mentioned publicly and as we scale intentionally on a long-term plan to progressive decentralization of the Push ecosystem. Treasury is given as a percentage of overall Push ecosystem funds which is natural for protocol DAOs, and as we launch more programs, we expect to have more potential and impact with regards to our own revenue.
As with any questions like this, we’d like more context.
To double down actually, we’re rolling out further plans including quarterly financial reports over time, intentionally. That’s been public from day one. The first report will come at the end of September, an exciting step forward towards further improvements.
As you can imagine, as a long-term token holder, I’ve stood by the project through both good and bad times. The current market conditions are affecting the entire web3 space, and while I trust the DAO management, I want to ensure that the DAO’s financials are more transparent and open. Public ceremonies specifically dedicated to this topic would be excellent.
Hey @Ruteeko, thanks for the call for transparency. As @EC3 mentioned above, our DAO is pretty nascent, and we have only been in operation for about 3 months now. However, we do our best to keep all our activities as transparent as possible. A great place to see all the funded initiatives is the Push DAO Snapshot, but currently, it is only the DAO Council, Grants SubDAO, and BD SubDAO, of which the latter two are only set to operate for 3 months. The ambassadors were a Push Protocol initiative that was passed on to be managed by Push DAO, which is why we are creating guidelines for their operations now.
We currently have a lot to handle in getting the DAO fully functional, and we agreed that we would do quarterly reporting, so look out for that at the end of this month. The DAO does not control the treasury, and all operations are funded by Push Protocol via periodic payments to an operations multisig. Due to security reasons, we do not publicly share who the signers are on any of our multi-sigs to avoid targeted attacks by malicious actors.
Thank you again, and feel free to join any of our community calls throughout the week if you have any more questions.
Thanks for organizing the “𝐒𝐩𝐞𝐜𝐢𝐚𝐥 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐂𝐚𝐥𝐥” to share the Transparency Report with everyone a few days ago.
Unfortunately, I couldn’t attend due to travel. Could you share the materials and key points from the call here as well? It would be great to extend that transparency to those who couldn’t join the call on Discord.
GM GM ser, you can always keep up with any missed governance calls via the recap thread here. We had a preview of the Transparency Report during the governance call, and we will share the full report on the Forum and our Mirror Blog (Feel free to Subscribe so you are alerted as soon as it is up) after a final round of edits.
