DAO Finance Operations - Update

As part of continuously pursuing an open and transparent organization we are including here the outline of our inflight MVP for DAO Finance Operations: DAO Finance - Draft

Please comment directly in this thread or as comments in the Notion page and we will respond as best we can.

With the imminent launch of wPOKT we also want to draw attention to a change in how we operate the Era Allocation.

Era Allocation and Contributor Payments

The primary purpose of wPOKT, apart from bringing liquidity to our ecosystem, is to:

Today, we rely on manual operations for DAO payments given the Pocket blockchain’s lack of smart contract functionality. We have managed to a weekly/monthly cadence alongside the Governance Transactions which @JackALaing updates you on regularly to try to make things less burdensome and to be honest it is only marginally less painful.

Following the launch of wPOKT, the following changes will be made to Era Allocation and contributor payments:

1. Funds from the Era Allocation will be converted to wPOKT and controlled by a 2/4 Gnosis Safe.

The launch of wPOKT means we can now operate a transparent and secure multisig for payments. This will enable us to have more dynamic payment operations within PNF. For each Cycle, we will convert the Era Allocation to wPOKT and hold it in a SAFE. It is our intention to expand this multisig beyond just PNF representation and we will communicate more on this in time.

For end-users (contributors), you should expect more dynamic (and rapid) payment for milestones completed. This leads to the next point.

2. All contributor payments for Sockets, POPs and Bounties will be paid in wPOKT

The movement of the Era Allocation to a SAFE means that contributors accessing these funds (as payment for Sockets, POPs & Bounties) will be paid in wPOKT. In limited cases, we may also make payments in stables, given access to EVM liquidity and this tooling means we can more rapidly complete swaps.

3. We plan to activate streaming payments for Sockets.

Streaming payments make a linear payment over time. Providers in this space include Superfluid, Hedgey Finance, Sablier + more. Because Sockets are built around an optimistic monthly payment, there is no need for us to continue to hold Socket contributors to monthly payments. For each new Socket, we will initiate a streaming payment at time of approval, and contributors can access the accumulated stream of funds at any time.

We are in the process of confirming our tooling partner for this and will provide a further update to you shortly. To better understand the direction we are moving in, this page may help.

This is an exciting time for the DAO as we leverage wPOKT and use native web3/DAO infrastructure for the first time. We will connect with contributors and grantees to further discuss these changes, and will return to this thread with the launch of wPOKT to confirm activation.

As always, please respond with any questions here or reach out to me direct if needed, thanks