The proposal would benefit from a clearer focus and strategic direction rather than a rushed implementation. This proposal aims to incentivize all vaults and chains without a targeted growth plan or any analysis of past performance.
# PTBR-13: Executive Team Q1 2024
Start DateJan 1st, 2024
Duration of Work 3 months
Budget 12k USDC
The Executive-Team has been the primary custodian of prize pool contracts and prize liquidity since V4 inception. We handle custody and transaction matters where directed by governance, such as claiming rewards, managing protocol owned liquidity, and receiving tokens on networks other than mainnet. We are the goto solution for maximum security custody for the community.
# Scope of Work
The Executive Team is owner of the PT V4 contracts
We will continue the custody of delegations for the Community Team, Grants, and SerHotMike. Custody continues to be $250k in total.
We manage USDC ticket liquidity on Optimism of 50k USDC.
We will not be taking on any new custody for the DAO. Current custodied assets are detailed in the RFC
This quarter we will move to help with the sunsetting of V4 as well as retiring the exec-team. We will propose solutions to handle all of the custody responsibilities and by default any unresolved matters will be liquidated and returned to treasury.
## Goal
Our primary focus is security. We maintain a 5/8 multi-sig of senior contributors who are well versed in PoolTogether infrastructure, happenings, and the greater DeFi ecosystem.
We look to act in a timely and efficient manner to ensure prize liquidity never runs dry, and that Pooler and treasury funds are safe.
These pillars form our goals
* Security
* No loss. We strive to never lose funds. This is an easily evaluated metric we strive to maintain.
* Acting on governance directives
* Acting in an organized and efficient way.
* Transactions are presented by lead as having a standard 24hr time to sign and execute. -
* Transactions requiring more immediate attention are presented with a 12hr time to sign and execute.
## Timeline
The team will be funded and active for all of Q1 2024.
# Budget
12k USDC
RFC <https://gov.pooltogether.com/t/rfc-ptb-13-executive-team-q1-2024/3167>
I agree with the concerns expressed here, on the discord and the forum. I also do not support the majority of deliverables here. I hope the team will change their all or nothing stance and listen to the feedback. If the deliverables of this request are presented individually it will be a lot easier for consensus to form direction.
# PTBR-10: Executive Team Q4 2023
Start Date October 1st, 2023
Duration of Work 3 months
Budget 11,904 PTUSDC
RFC https://gov.pooltogether.com/t/rfc-ptbr-10-executive-team-q4-2023/3057/1
The Executive-Team has been the primary custodian of V4 prize pool contracts and prize liquidity since V4 inception. We handle custody and transaction matters where directed by governance, such as protocol owned liquidity, OP tokens, prize pool delegations and receiving tokens on networks other than mainnet. We are the goto solution for maximum security custody for the community.
Scope of Work
The Executive Team is owner of the PT V4 contracts and has the role of managing the draw percentage rate parameters previously overseen by The Finance Team. If V4 is sunset this quarter we will manage the transition where our contract ownership and fund custody is relevant.
We will be available if any contract custody or management with V5 is needed.
We execute operations such as deploying and managing protocol owned liquidity and bridging funds where needed.
We will continue the custody of delegations for the Community Team, Grants, and SerHotMike. Custody continues to be $300k in total.
We continue with a custody limit of $750k to put a hard cap on our total custody. Activities that approach the cap will be brought forward as an alert. Any funds over that amount will need to be approved by a vote to change the cap. This gives the community a clear picture of what our custody risk is.
Goal
Our primary focus is security. For q4 we will maintain a 5/8 multi-sig of senior contributors who are well versed in PoolTogether infrastructure, happenings, and the greater DeFi ecosystem.
We look to act in a timely and efficient manner to ensure prize liquidity never runs dry, and that Pooler and treasury funds are safe.
These pillars form our goals
Security
No loss. We strive to never lose funds. This is an easily evaluated metric we strive to maintain.
Acting on governance directives
The executive-team aligns with the council. Any concerns from the community are encouraged.
Ensuring prize delivery
Prizes promised are prizes delivered. We strive for no failed prize claims due to a lack of prize liquidity.
Acting in an organized and efficient way.
Transactions are presented by lead as having a standard 24hr time to sign and execute. - -
Transactions requiring more immediate attention are presented with a 12hr time to sign and execute. The team will strive to always meet these deadlines.
Timeline
The team will be funded and active for all of Q4.
Budget
11,904 PTUSDC
# PTBR-4: Executive Team
Executive Team
Start Date July 1st, 2023
Duration of Work 3 months
Budget $12.9k
The Executive-Team has been the primary custodian of prize pool contracts and prize liquidity since V4 inception. We handle custody and transaction matters where directed by governance, such as claiming rewards, and receiving tokens on networks other than mainnet. We are the goto solution for maximum security custody for the community.
Scope of Work
The Executive Team is owner of the PT V4 contracts and will be taking over the role of managing the draw percentage rate parameters previously overseen by The Finance Team. The parameters will be adjusted according to a framework designed by The Finance Team which aims to continue with prize sustainability relative to yield.
We will continue the custody of delegations for the Community Team, Grants, and Growth. Custody continues to be $300k in total.
We continue with a custody limit of $750k to put a hard cap on our total custody. Activities that approach the cap will be brought forward as an alert. Any funds over that amount will need to be approved by a vote to change the cap. This gives the community a clear picture of what our custody risk is.
Goal
Our primary focus is security. We will maintain 6/9 multi-sigs of senior contributors who are well versed in PoolTogether infrastructure, happenings, and the greater DeFi ecosystem.
We look to act in a timely and efficient manner to ensure prize liquidity never runs dry, and that Pooler and treasury funds are safe.
These pillars form our goals
Security
No loss. We strive to never lose funds. This is an easily evaluated metric we strive to maintain.
Acting on governance directives
A quarterly team survey evaluates our performance alignment with governance directives. The executive-team aligns with the council. Any concerns from the community are encouraged.
Ensuring prize delivery
Prizes promised are prizes delivered. We strive for no failed prize claims due to a lack of prize liquidity.
Acting in an organized and efficient way.
Transactions are presented by lead as having a standard 24hr time to sign and execute. Transactions requiring more immediate attention are presented with a 12hr time to sign and execute. The team will strive to always meet these deadlines and missed time windows will be reported at quarters end.
Timeline
The team will be funded and active for all of Q3.
Budget
Amount Token
10,536 USDC
3,843 POOL
withdrawReserve(address,address)withdrawReserve(address,address)# PTIP-86 Sunsetting V3 Pools
This proposal is a sequel to PTIP-56: V3 in which we reduced the number of winners on V3 pools and changed the RNG to Blockhash to reduce costs. We now are seeking to remove operational costs and reserve takes to fully sunset the V3 prize pools
1. Set reserve to zero for USDC, DAI, UNI, COMP, SUSHI pools
Reserve registry 0xd1797D46C3E825fce5215a0259D3426a5c49455C
2. Protocol team stops rewarding relayer and recovers funded ETH. ETH can be saved for other protocol operational costs.
3. Claim the pending reserves
Read more on RFC: https://gov.pooltogether.com/t/rfc-sunsetting-v3/2814
# PTIP-85 Strengthening Protocol Owned Liquidity
## Simple Summary
Increasing our protocol owned liquidity (WETH/POOL) on Mainnet.
## Abstract
100k USDC and 200k POOL will be sent to The Executive-Team. The USDC will be swapped for ETH and added with the POOL to Uniswap V3 in what we call the active trading range (.0004 WETH/POOL to .0012 WETH/POOL).
## Motivation
Seeing an uptick in trading volumes and in anticipation for The Hyperstructure launch this proposal seeks to reinforce our protocol owned liquidity on Ethereum Mainnet.
## Execution
The Executive-Team will add all ETH to the active trading range. Depending on the POOL price at the time of the execution, the amount of POOL paired with that ETH will vary. The remaining amount of POOL will be added from the price at the time of the execution to .0012 WETH/POOL.
In the unlikely case that POOL price falls below .0004 WETH/POOL, the USDC would be returned to the Treasury. POOL would be added to the active range from .0004 to .0012 WETH/POOL.
## Technical Specification
Transfer 63567345210 USDC to 0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693
Transfer 36432654790 PTaUSDC to 0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693
Transfer 200000000000000000000000 POOL to 0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693
RFC: https://gov.pooltogether.com/t/rfc-strengthening-our-foundation-for-protocol-owned-liquidity/2763
# TBR-Q1-2023 - Finance Team
Purpose
The Finance team continues with the core purposes from the previous quarter:
Ensure safety and prudence go into every decision
Drive future protocol growth
Identify sustainable solutions
Present objective data to the community
Acquiring these values, the Finance team will specially focus on Treasury sustainability and transparency. With the Treasury growth and the creation of multiple independent teams, the Finance team can offer a holistic view of the Treasury to bring clarity on a financial perspective.
Finally, the Finance team will monitor and implement changes to prize distributions with the purpose of growing the protocol in a sustainable manner. Example duties: monitoring prize data and sentiment, adjusting prizes and optimizing prize distributions to create the best user experience.
Read more https://gov.pooltogether.com/t/rfc-tbr-q1-2023-renewal-finance-team/2665
# TBR-Q4-2022 - Executive Team
https://gov.pooltogether.com/t/rfc-tbr-q4-2022-executive-team/2579
Team Name Executive Team
Quarter and Year Q4 2022
Payout Address 0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693
Total USD Value Requested $309,181 USD
Purpose
The Executive-Team has been the primary custodian of prize pool contracts and prize liquidity since V4 inception. We handle custody and transaction matters where directed by governance, such as claiming rewards, and receiving tokens on networks other than mainnet. We are the goto solution for maximum security custody for the community.
We will take on a new task of custodying delegation funds for L2s. This proposal includes 300k USDC which will be represented by Grants Team (100k), Community Team (100k) and SerHotMike for the growth team. Delegation funds will be separate from prize liquidity for clarity and deposited to the multi-delegator or as undelegated tickets. This operation has the side benefit of increased prize generation for sponsorship funds that are not delegated.
Note: We shall introduce a custody limit of $750k for this quarter to put a hard cap on our total custody. Activities that approach the cap will be brought forward as an alert. Any funds over that amount will need to be approved by a vote to change the cap. This gives the community a clear picture of what our custody risk is.
Goals
Our primary focus is security. We maintain a 7/11 multi-sig of senior contributors who are well versed in PoolTogether infrastructure, happenings, and the greater DeFi ecosystem.
We look to act in a timely and efficient manner to ensure prize liquidity never runs dry, and that Pooler and treasury funds are safe.
These pillars form our goals
Security
No loss. We strive to never lose funds. This is an easily evaluated metric we strive to maintain.
Acting on governance directives
A quarterly team survey evaluates our performance alignment with governance directives. The executive-team aligns with the council. Any concerns from the community are encouraged.
Ensuring prize delivery
Prizes promised are prizes delivered. We strive for no failed prize claims due to a lack of prize liquidity.
Acting in an organized and efficient way.
A new procedure is being introduced to outline execution time expectations. Transactions will be presented by lead as having a standard 24hr time to sign and execute. Transactions requiring more immediate attention will be presented with a 12hr time to sign and execute. The team will strive to always meet these deadlines and missed time windows will be reported at quarters end.
# PTIP 82 - A foundation for protocol owned liquidity
Simple Summary
Open four protocol owned liquidity positions for WETH/POOL on Uniswap V3 mainnet
Motivation
This initiative is the culmination of the Polygon Protocol Owned Liquidity and research from the Treasury Working Group. Recent discussions and links to older relevant materials can be found at https://gov.pooltogether.com/t/a-foundation-for-protocol-owned-liquidity/2534
Executive Team Mandate
Withdraw Olympus ETH/POOL V2 position
Send position to TWG multi-sig 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1
Treasury Working Group Mandate
Withdraw 100,000 USDC from PrizePool, swap for ETH
Withdraw liquidity from Uniswap V2
Add liquidity in four ranges to Uniswap V3
Range #1 TWAP protection full range
Price 0 to Infinity
Amounts 1.5 WETH and applicable amount of POOL (aiming for $10k value)
Range #2 Current active trading range
Price 0.0004 to 0.0012 WETH per POOL
Amounts ~40 WETH (50,000 USDC swap + UNI V2 withdrawn) and applicable amount of POOL (currently estimated at 95k POOL)
Range #3 One-sided POOL range
Price 0.001 to .01 WETH per POOL
Amount 200k POOL minus POOL spent in Range #1 and #2. Estimated to be ~100k POOL
Range #4 One-sided WETH range
Price 0.0002 to 0.00045 WETH per POOL
Amount Proceeds of swapping 50k USDC to WETH and leftover after deploying other ranges (currently estimated to be ~40 WETH)
Send NFTs for liquidity positions to timelock
Proposal Technical Specification
POOL token
Destination 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1
Amount 183000000000000000000000
Custom contract 0xdd4d117723C257CEe402285D3aCF218E9A8236E1
Transfer
Recepient 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1
Amount 100000000000
Custom contract 0xc36442b4a4522e871399cd717abdd847ab11fe88
transferFrom
from 0x42cd8312D2BCe04277dD5161832460e95b24262E
to 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1
tokenID 321228
# PTIP-74: Treasury Working Group Third Quarter Renewal
Simple Summary
The Treasury Working Group (TWG) was formed after PTIP-46 1 was passed. Last quarter, the TWG was funded with 12,820 POOL for our third operational quarter, plus 3,000 USDC for execution and reimbursement costs. Now that the TWG’s second operational quarter is complete, members are seeking renewal for a third quarter and a budget request of 52,314 POOL/quarter, as well as 2,000 USDC (to be converted to ETH) for PTIP and execution gas costs.
If this PTIP is approved, the TWG’s third quarter would begin on Wednesday (15 June 2022).
Abstract
The TWG reviewed our third operational quarter performance and outlined our third quarter deliverables in the forum post below and within the TWG Notion page.
Per our original proposal, the TWG’s core purpose is to:
Ensure safety and prudence go into every decision
Drive future protocol growth
Identify sustainable solutions
Present objective data to the community
In keeping with our core purpose, the TWG will focus on our core duties plus the following high level deliverables, which we’ve identified as top priority for our third quarter:
Motivation
The TWG provides objective analysis and data for any governance proposal or forum post that discusses a potential use of treasury funds. During our second quarter, the TWG provided analysis on POL initiatives, received approval to experiment with Uni v3 on Polygon, advised on prize tiering to reduce subsidy but stay competitive, advocated for deployment on Ethereum rollup solutions (i.e., Optimism), and more. For a full review of our activity, Poolers can review the Treasury Working Group page on Notion.
Members of the TWG have played a vital role in governance discussions regarding prize tiering and simulation.
For our proposed third quarter, the TWG will focus on pressing issues for the DAO: namely, reviewing the new prize pool network on testnet, potential avenues for growth, infrastructure that can be used to create new products (via bounty), DAO expenditures, and POL analysis, recommendations. The main theme of our third quarter will be on sustainable practices, which concern DAO expenditures and growth initiatives (re: growing inflows to offset outflows).
The TWG will also expand the core duties of the working group, like those stated above. Over our first two quarters, members have provided sound analysis and recommendations on the proposed core duties–the community has been receptive to the past RFCs and PTIPs put forth by the TWG, as reflected in governance outcomes.
We’ll also work with other working groups within PoolTogether, such as the Marketing Working Group (MWG) to determine how the protocol can balance expense management with the Optimism launch campaign and the mutli-delegator contract to achieve growth in deposits.
In our third quarter, the TWG will deliver on our core purpose, while providing DAO members with the objective analysis and insight necessary to make informed decisions on treasury-related governance proposals.
Specification
In our second quarter, the TWG requested a budget of 12,820 POOL/quarter, with an allocation of 4,273.33 POOL per month that was distributed via Coordinape. Distributions were executed from the TWG Polgyon multisig: 0x8F8e905Cd8b7b0e435e1030BE250970Bf8c9ab8B
Over the course of our second quarter, 4,273.33 POOL were distributed among active contributors each month.
When our second budget was requested, POOL was ~$3.34/POOL. The TWG chose to be paid in POOL to align incentives with the DAO. The total quarterly budget was $30,000 USD, or $10,000/month. During our second quarter, the average contributor received $712.16 in POOL for their monthly contribution due to the change in POOL prices.
For our third operational quarter, the TWG is seeking $35,000 in POOL, which is equivalent to 52,314 POOL/quarter, or 17,438 POOL/month at the market price of $0.66/POOL. We still believe payment in POOL aligns incentives with the community and drives us to work for the betterment of the protocol. An increased allocation to our budget is intended to reduce the churn of contributors and provide incentives for at least 6 contributors, so we can expand the scope of the TWG’s analysis and core duties.
If this PTIP is approved, our third quarter would begin on Wednesday (15 June 2022).
Review of, Request for Compensation Related to On-Chain Governance Gas Costs
Members spent a total of 0.48808710089 ETH in gas costs for submitting on-chain transaction executions and proposals on behalf of the TWG. This amount includes direct costs from the mainnet multisig and the reimbursement costs for members.
Our initial funding was 3,000 USDC, which was converted to 0.87367 ETH. Currently, the TWG has 0.3856 ETH remaining in the mainnet multisig. As there are additional gas costs associated with submitting on-chain proposals and executing transactions on mainnet, we request a 2,000 budget in USDC that will be used to acquire ETH that is held in the TWG multisig on mainnet; some of this funding will go to reimbursing TWG members over the next quarter for executing transactions and submitting on-chain proposals. Any ETH that is not used for executing on-chain proposals can be returned to the treasury or rolled over at the end of the operational quarter.
Read more in the governance thread: https://gov.pooltogether.com/t/ptip-74-treasury-working-group-third-quarter-renewal/2333
# PTIP-73 300k PTaUSDC for Project Optimism and Greater Prize Reserves
Simple Summary
This proposal will move 300k PTaUSDC from treasury deposited V4 “sponsorship” to the prize reserves managed by the executive-team. The PooTogether prize party continues as we expand to Optimism!
Abstract
This proposal on execution will transfer 300k in PTaUSDC to the executive-team safe on Ethereum mainnet. The executive-team then will balance the prize liquidity reserves across chains.
Motivation
This request comes in anticipation for the Optimism deployment.
Overview
It is estimated this liquidity provision will sustain prize distribution for three to six months depending on deposits, yield, and prize tierings set by governance.
Rationale
PoolTogether wants to grow and is excited to be part of the Optimism community. Adding chains requires greater prize reserves to minimize bridging efforts and stay efficient. Moving USDC to prize reserves independently has no negative impact to the treasury. The funds are deposited to the yield source to grow prizes, be it “sponsorship” from the treasury or in the prize distributor.
Technical Specification
Transfer 300000000000 PTaUSDC (0xdd4d117723C257CEe402285D3aCF218E9A8236E1) from Treasury Timelock to Executive-Team Gnosis safe on Ethereum (0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693)
Status
Previous Thread: Authorize Optimism Prize Pool https://gov.pooltogether.com/t/ptip-73-authorize-optimism-prize-pool/2261
# PTIP-69 Polygon Uniswap V3 WETH/POOL Liquidity
# PTIP-69
## Simple Summary
The Treasury Working Group (TWG) proposes deploying WETH/POOL liquidity on Polygon to support the POOL token and broaden our community knowledge of Uniswap V3.
## Abstract
We propose that the TWG be approved to execute the deployment of a Uniswap V3 position on Polygon for WETH/POOL. The deployment would be maintained by the TWG for 90 days at which time it could be re-evaluated and potentially renewed.
## Motivation
The majority of PT users now are on Polygon, and while over 100k POOL currently circulates on Polygon the liquidity is extremely shallow resulting in high slippage. This proposal will add significant support to the POOL token on Polygon. In addition we are looking to build community knowledge as we move towards a much greater cross-chain liquidity solution for the POOL token. Lastly protocol owned liquidity will generate fees for the protocol.
## Specification
Transfer 25k POOL and 6525 GTC from the Treasury to the TWG Gnosis safe. The TWG will then swap the GTC for ETH and bridge both POOL and ETH to Polygon. The tokens will be added to WETH/POOL on Uniswap V3.
### Rationale
Previous attempts for protocol owned liquidity with Olympus PRO and Ondo LaaS have been deemed unsuccessful and the protocol is looking for the most effective liquidity solution to support the token. We have chosen to use half of the treasuries Gitcoin holdings because they represent the largest unutilized holding in the treasury. WETH will be the base pair for its popular routing and to build some position for the treasury as the POOL token appreciates.
### Technical Specification
contract: POOL 0x0cEC1A9154Ff802e7934Fc916Ed7Ca50bDE6844e
transfer 25000000000000000000000
to 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1
contract: GTC 0xDe30da39c46104798bB5aA3fe8B9e0e1F348163F
transfer 6525000000000000000000
to 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1
RFC for reference: https://gov.pooltogether.com/t/rfc-protocol-deployed-liquidity-on-polygon-uniswap-v3/2145
# PTIP 65: Treasury Working Group Second Quarter Renewal
# PTIP 65: Treasury Working Group Second Quarter Renewal
## Simple Summary
The Treasury Working Group (TWG) was formed after PTIP-46 was passed. Initially, the TWG was funded with 2250 POOL for our first operational quarter, plus 250 POOL for retroactive pay. Now that the TWG’s first operational quarter is complete, members are seeking renewal for a second quarter and a budget request of 12,820 POOL/quarter, as well as 3,000 USDC (1 ETH value) for PTIP gas costs.
If this PTIP is approved, our second quarter would retroactively begin on Monday (14 March 2022).
## Abstract
The TWG reviewed our first operational quarter performance and outlined our second quarter deliverables in the (RFC) Treasury Working Group | Second Quarter Renewal forum post.
Per our original proposal, the TWG’s core purpose is to:
* Ensure safety and prudence go into every decision
* Drive future protocol growth
* Identify sustainable solutions
* Present objective data to the community
In keeping with our core purpose, the TWG will focus on the following high level deliverables, which we’ve identified as top priority for our second quarter:
1. Exploring protocol-owned liquidity solutions (POL)
2. Identify new yield sources
3. Prize tiering, simulation
4. Non-stablecoin asset management
5. Leveraging TWAB, Delegated Chance to Win for Growth
### TWG Membership
In our second operational quarter, @BraveNewDeFi will be the proposed chair and, if approved, he will take on the TWG Chair role. He would be responsible for coordinating communication, posting feedback/comments on the forum, and maintaining close communication with the PoolTogether Inc. team to ensure both the TWG and the protocol are working toward the same goals.
In our next quarter, the following TWG members will remain as contributors:
* underthesea
* drcpu
* TheRealTuna
* BRONDER
* BraveNewDeFi (Llama)
* yuan-han-li (Llama)
We are also looking for an addition 1-2 members who would like to contribute to the TWG; total membership will likely be between 7-8.
## Motivation
The TWG provides objective analysis and data for any governance proposal or forum post that discusses a potential use of treasury funds. During our first quarter, the TWG provided analysis on POL initiatives, which were shared and noticed outside of the DAO.
Members of the TWG have played a vital role in governance discussions regarding prize tiering and simulation. In our first quarter, we reviewed stablecoin asset management approaches and proposed PTIP: 54: Treasury Assets Management #1, which was passed by the DAO to add productive assets to our treasury and use USDC to generate interest for prizes in V4. For a full review of our first quarter performance, see the (RFC) Treasury Working Group | Second Quarter Renewal.
For our proposed second quarter, the TWG will focus on pressing issues for the DAO: namely, POL solutions that don’t come at a significant cost to the protocol and identifying new yield sources to increase yield and reduce the TVL benchmarks PoolTogether needs to reach in order to achieve profitability.
The TWG will also make some deliverables core duties of the working group, like prize tiering/simulation analysis and asset management. Now that stablecoin assets have been deployed into productive strategies, the TWG will turn our focus to the optimal use of non-stablecoin treasury assets.
We’ll also work with other working groups within PoolTogether, such as the Marketing Working Group (MWG) to determine how the protocol can leverage the TWAB contract and the mutli-delegator contract to achieve growth in deposits.
In our second quarter, the TWG will deliver on our core purpose, while providing DAO members with the objective analysis and insight necessary to make informed decisions on treasury-related governance proposals.
## Specification
For our second operational quarter, the TWG is seeking $30,000 in POOL, which is equivalent to 12,820 POOL/quarter, or 4,273.33 POOL/month. We still believe payment in POOL aligns incentives with the community and drives us to work for the betterment of the protocol. An increased allocation to our budget is intended to reduce the churn of contributors and provide incentives for 6-8 contributors, so we can expand the scope of the TWG’s analysis and core duties.
If this PTIP is approved, our second quarter would retroactively begin on Monday (14 March 2022).
### Compensation for On-Chain Governance Gas Costs
@underthesea spent a total of 0.1574 ETH in gas costs for submitting on-chain proposals on behalf of the TWG. The relevant transactions are included here 1 and here. We request retroactive compensation for underthesea’s gas costs, as submitting on-chain PTIPs was not initially in the scope of the TWG. When we first formed, we were to provide analysis but have no execution power.
Going forward, the TWG will take on the responsibility for putting votes on-chain in the second operational quarter. There will be additional gas costs associated with submitting on-chain proposals, so we are requesting a 3,000 budget in USDC that will be used to acquire WETH that is held in the TWG multisig; some of this funding will go to reimbursing underthesea, as well. Any WETH that is not used for executing on-chain proposals will be returned to the treasury or rolled over at the end of the operational quarter.
### TWG Gnosis Safe on Ethereum
In the TWG’s first quarter, funding was directed from the Polygon Executive multisig, which was on Polygon. Since this distribution will be on mainnet, funds will be held in a 3/5 Gnosis Safe with the following signers:
* BraveNewDefi - 0x06223C0093Fc9FC872C8968BF13a15AE18f2484f
* BRONDER - 0x3bc1158e5bcE8c10e5DA0EdFBB94b261eec46A76
* underthesea - 0x93146d9978d286EE085ba68eE1786a0b6EDA64EC
* drcpu - 0xC734011dBd90677eb42C0F93827665F0ddaed46F
* TheRealTuna - 0xa31c2232842e631cCb2d2E4110B356Bab21E6020
PTIP gas reimbursement and Coordinape funding will be distributed from this multisig.
### Technical Specification
1) Withdraw 3000000000 PTaUSDC from the prize pool
2) Transfer 3000000000 USDC to TWG multisig
3) Transfer 12820000000000000000000 POOL to TWG multisig
TWG multisig address: 0xB74659A1011F6DCA3BA6F6e22a71bA8f414F36A1
# PTIP 54 - Treasury Assets Management #1
We are looking to increase the yield obtained by treasury assets while also keeping a low-risk profile and trying to shift more attention to V4 instead of V3.
Transactions - 8 total
Withdraw scUSDC from V3 Sponsorship
Withdraw USDC from V3 Reserve
Withdraw DAI from V3 Reserve
Approve USDC for V4
Deposit USDC in V4 effectively as sponsorship
Approve DAI for Aave V2
Deposit DAI do Aave V2
Transfer 36,467 TRIBE to executive multi-sig to be staked
Apart from those transactions, this PTIP will also withdraw $16K USDT on Polygon from PoolTogether V3 Reserve and swap it to USDC. Afterwards it will be deposited as prize liquidity into V4 (not delegated to any address). This Polygon transaction will be handled by the exec-team.
https://gov.pooltogether.com/t/ptip-54-treasury-assets-management-1/1993