8DAO team and community leaders have been trying to improve 8DAO governance. With the growth of the functions and size of 8DAO, treasury management has become more and more important. Therefore, this document proposes to create a Treasury Block to better manage the assets of 8DAO.

Having a special block to take responsibility in treasury management can benefit a DAO from various perspectives:

• Efficiency, diversification and security of DAO assets;

• Risks deduction while adding value to the treasury;

• Transparency and reliability to DAO members.

With the help of Treasury Block, an organized and efficient treasury will better support 8DAO to achieve its mission and vision which is to support and invest in creators and founders in NFT / Web3 / DAO.

Creating a Treasury Block with below specifications.

A Treasury Block is proposed to be created in parallel with existing blocks. It serves to properly manage 8DAO treasury on a daily basis, meanwhile keeping transparency to 8DAO members. Jason Zhang is proposed to be the Treasury Block leader. The main functions of Treasury Block are as below:

Cashier

• Control and manage all treasury wallets;

• Record all the inflows and outflows of treasury assets;

• Ensure the security of treasury assets.

Bookkeeping

• Properly keep the records of all the movements in the treasury;

• Prepare the treasury report regularly for members to review.

Investment

An Investment Committee is proposed to be established under Treasury Block to specially deal with investment-related issues in 8DAO. The specification of the Investment Committee is as below:

• Committee Members: The Investment Committee shall consist of five 8DAO members with investment and Web3 experience. The initial members selected by Block Leaders will serve until 30 Sep 2022. After Season 1, the members of the Investment Committee will be open for application, each term of service will be two Seasons (6 months) afterwards. The initial members of 8DAO Investment Committee are:

  Jeff Ren - Crypto OG, celebrated technology investor;

  Sam Lin - Seasoned Fin-Tech investor and investment banker;

  Justin Zhou - Seasoned TMT investor, Web3 advocate and keen NFT collector;

  Karma Pocket - 8DAO founder, Governor Block Leader;

  Samuel Gu - 8DAO Governance & Administration Block Leader.

• Investment and Budget: The Investment Committee will decide the direct investment in NFT/Web3/DAO projects on behalf of 8DAO (treasury), with the budget approved by 8DAO members. The budget of direct investment for Season 0 (1 April 2022 - 30 June 2022) is 120,000 USDT;

• Management: Prepare investment reports regularly for 8DAO members to review; Prepare proposals to better diversify and utilize 8DAO treasury assets.

Setting up a multisig 8DAO Treasury Block wallet: 14th May, 2022

Setting up a multisig 8DAO Treasury Investment wallet: 14th May, 2022

The first treasury report: 1st July, 2022 (a new treasury report every 3 months)

The first investment report: 1st Oct, 2022 (a new investment report every 6 months)

For Season 0:

• Compensation for Investment Committee members: 1,000 8DAO tokens/month/member

• Operation: 50,000 8DAO tokens and 20,000 USDT

• Direct investment: 120,000 USDT

Karma Pocket - 8DAO founder & Governor Block Leader

Samuel Gu - Governance & Administration Block Leader

Jason Zhang - 8DAO Team

Even though the Treasury Block may provide better diversification and utilization (including direct investment) of the treasury which are beneficial to 8DAO, it might also bring both internal and external risks. Therefore, it is decided that the Investment Committee, whose members are all with investment & Web3 experience, shall also pay attention to and control relevant risks.

We have also considered alternative options for external financial professionals to manage our treasury. However, it's relatively difficult to seek suitable professional and cultural background in the market at this stage. In addition, given the size of the treasury, these professionals are generally not very cost-effective. Thus, this alternative option seems not feasible to us at this stage.

8DAO team and community leaders have been trying to improve 8DAO governance. With the growth of the functions and size of 8DAO, treasury management has become more and more important. Therefore, this document proposes to create a Treasury Block to better manage the assets of 8DAO.

Having a special block to take responsibility in treasury management can benefit a DAO from various perspectives:

• Efficiency, diversification and security of DAO assets;

• Risks deduction while adding value to the treasury;

• Transparency and reliability to DAO members.

With the help of Treasury Block, an organized and efficient treasury will better support 8DAO to achieve its mission and vision which is to support and invest in creators and founders in NFT / Web3 / DAO.

Creating a Treasury Block with below specifications.

A Treasury Block is proposed to be created in parallel with existing blocks. It serves to properly manage 8DAO treasury on a daily basis, meanwhile keeping transparency to 8DAO members. Jason Zhang is proposed to be the Treasury Block leader. The main functions of Treasury Block are as below:

Cashier

• Control and manage all treasury wallets;

• Record all the inflows and outflows of treasury assets;

• Ensure the security of treasury assets.

Bookkeeping

• Properly keep the records of all the movements in the treasury;

• Prepare the treasury report regularly for members to review.

Investment

An Investment Committee is proposed to be established under Treasury Block to specially deal with investment-related issues in 8DAO. The specification of the Investment Committee is as below:

• Committee Members: The Investment Committee shall consist of five 8DAO members with investment and Web3 experience. The initial members selected by Block Leaders will serve until 30 Sep 2022. After Season 1, the members of the Investment Committee will be open for application, each term of service will be two Seasons (6 months) afterwards. The initial members of 8DAO Investment Committee are:

  Jeff Ren - Crypto OG, celebrated technology investor;

  Sam Lin - Seasoned Fin-Tech investor and investment banker;

  Justin Zhou - Seasoned TMT investor, Web3 advocate and keen NFT collector;

  Karma Pocket - 8DAO founder, Governor Block Leader;

  Samuel Gu - 8DAO Governance & Administration Block Leader.

• Investment and Budget: The Investment Committee will decide the direct investment in NFT/Web3/DAO projects on behalf of 8DAO (treasury), with the budget approved by 8DAO members. The budget of direct investment for Season 0 (1 April 2022 - 30 June 2022) is 120,000 USDT;

• Management: Prepare investment reports regularly for 8DAO members to review; Prepare proposals to better diversify and utilize 8DAO treasury assets.

Setting up a multisig 8DAO Treasury Block wallet: 14th May, 2022

Setting up a multisig 8DAO Treasury Investment wallet: 14th May, 2022

The first treasury report: 1st July, 2022 (a new treasury report every 3 months)

The first investment report: 1st Oct, 2022 (a new investment report every 6 months)

For Season 0:

• Compensation for Investment Committee members: 1,000 8DAO tokens/month/member

• Operation: 50,000 8DAO tokens and 20,000 USDT

• Direct investment: 120,000 USDT

Karma Pocket - 8DAO founder & Governor Block Leader

Samuel Gu - Governance & Administration Block Leader

Jason Zhang - 8DAO Team

Even though the Treasury Block may provide better diversification and utilization (including direct investment) of the treasury which are beneficial to 8DAO, it might also bring both internal and external risks. Therefore, it is decided that the Investment Committee, whose members are all with investment & Web3 experience, shall also pay attention to and control relevant risks.

We have also considered alternative options for external financial professionals to manage our treasury. However, it's relatively difficult to seek suitable professional and cultural background in the market at this stage. In addition, given the size of the treasury, these professionals are generally not very cost-effective. Thus, this alternative option seems not feasible to us at this stage.