Buzzed Bear Hideout

Status: Proposal Author(s): CryptoChicca

Created: 17 November 2021

Discussions-to: Hideout forum https://gov.buzzedbearhideout.com/t/honeypot-manager/589

Implementation (optional): Immediate. ‌

Buzzed Summary Buzzed Bears are making moves and it is time to appoint a honeypot manager to oversee and manage the accounting for the honeypot funds

Abstract ‌ This proposal is to seek and appoint a honeypot manager to oversee and manage the accounting for the honeypot funds.

Buzzed Bears have over $1M in the DAO, and are making moves to implement the investment strategy (BIP-003). In order to do this, transactions are required, and it is hard to follow how much is available, left to spend in each category, or earnt / built up in each category etc. There are also transaction fees for gas that need to be accounted for and reimbursed.

This person will need to have skills in crypto, finance, audit, record keeping and preferably defi, although this aspect can be trained. Ideally this position will not only record keep and account for transactions, profit and expenses, but they will also ideally manage the in/out of funds into sEth (for example) in the defi space, to facilitate that aspect of the investment strategy. This should be fairly minor once implemented, save for when funds are needed to be pulled out. Ideally long term, this person may look to stake and facilitate loans for Buzzed Bears to better manage use of funds and limit Eth transaction / gas fees.

This is an important role to support everyone and should be rewarded as such. Remuneration should be paid via the rewards process.

Any interested bears should put their hands up and express their interest.

Bears have voted 94% in support of the proposal in the hideout, so this BIP is to move that proposal forward. As noted in the edit to that proposal, buzzed bears will first advertise and select a candidate. The final selection of the candidate and remuneration will be return to the hideout for discussion, before going to another BIP to confirm the selection. This is so it is clear to the whole community who they are appointing, given this is an important decision. Any initial feedback on the candidate or remuneration can be made during the hideout forum process to help refine if we need to go back to the candidate before proceeding to another BIP.

Motivation ‌ The more progress Buzzed Bears make, means the more transactions Buzzed Bears make. Having regard to the initial split of funds, it was easy to determine what funds fell into what categories. As we are now taking profits on certain ventures, and flipping, and investing in pools, it will mean we need to account for allocations and need someone to manage this so we know how much we have in each of the investment areas, and whether there are new funds available to allocate to other ventures.

Also, without a honeypot manager, bears are exposed to risk in not knowing exactly what is available to be spent, and we want to ensure we protect honeypot funds.

Specification ‌ Overview ‌

1. Appoint a honeypot manager
2. This person will need to have skills in crypto, finance, audit, record keeping and preferably defi, although this aspect can be trained.

Rationale ‌ The reasons for this proposal are:

1. Promoting good governance for the Buzzed Bear Hideout brand
2. Providing risk management to Buzzed Bear holders
3. Helping committee funds management revenue for Buzzed Bears
4. Assisting in growth of the defi section of the investment proposal.

Technical Specification ‌ This person should have most of the skills to facilitate the outcomes required. Defi training may be able to be provided by some bear members if this aspect requires learning.

Test Cases ‌ All good businesses have a treasury and someone to manage it, so lets get moving.

Copyright ‌ Copyright and related rights waived via CC0.