EVMavericks

This is a vote to determine if DAO members approve of the proposal below. This proposal will be approved with a simple majority (>50%) voting in favor of the proposal.

This proposal is focused on the allocation of the Treasury funds.

Allocation of the Treasury funds Currently, we have around 34 ETH ($47,600 with a $1400 ETH price) in the Treasury. As was made clear in our latest announcement in Discord, we still think reserving funds as compensation/reward for the stewards is not something we will ask for right now. In our opinion a (financial) reward should be paid retroactively. All the funds under custody of the stewards will be used to grow the DAO and help towards our mission statement.

The stewards propose the following allocation of our Treasury’s funds:

• 50% of the ETH is converted into rETH. rETH is a non-custodial liquid staking derivative from the Rocket Pool network. ETH deposits are matched with distributed node operators who stake on your behalf. rETH automatically accrues value based on staking rewards, which gives the DAO the possibility to passively increase the Treasury’s total value. For more information see: https://docs.rocketpool.net/guides/staking/overview.html#the-reth-token
• 30% of the ETH is going to the ManeNet DAO Investment Portfolio run by a stewards owned multisig. To be clear, a separate proposal will be put forth as to the possible structure of the portfolio once this initial allocation vote is passed. A good example of an asset we could look at is something like RPL, a token that a significant amount of our community appears to believe in/stand behind.
• 10% of the ETH is reserved as discretionary funds for the stewards. These funds can be used for public good grants or any other allocation the DAO sees value and potential in. A separate proposal will be put forth as to the possible structure of the allocations once the DAO together with the stewards have produced a proposal.
• 5% of the ETH is going to a fast-paced portfolio run by community members . This will be a fun experiment with the goal of driving community engagement as well as trying to see if our degens can grow this portfolio by making agile investment decisions. This portfolio also gives the DAO the possibility to invest in NFT’s. The exact details around this portfolio are still up for discussion. Please see the following discussion for background information or to contribute ideas: https://discord.com/channels/963992696387694592/966528703674851378/1011935013731831828
• 5% of the ETH is used for retroactive grants for valuable contributions to our DAO. Please contact the stewards if you feel there’s a contribution deserving of a grant. Have an idea for how we can further the ideals and mission of our community by funding some work within the DAO? Please share these as well.
• It’s looking like our DAO is becoming eligible for the $SAFE airdrop with an allocation of 1932 SAFE. Under the motto “if we wouldn’t buy it, we shouldn’t hold it” we want to propose to exchange the whole allocation to ETH within the week of the token becoming tradable.
• The Stake-a-Thon funds ($19,579) will stay reserved for the Stake-a-Thon and will be allocated to that project when a Snapshot vote regarding distribution of the funds has been accepted by the DAO.

New Treasury in figures:

• 17 rETH
• 10.2 ETH for the ManeNet DAO Investment Portfolio
• 3.4 ETH discretionary funds for the stewards.
• 1.7 ETH for the agile community members run portfolio.
• 1.7 ETH for retroactive grants within the DAO.

The ManeNet DAO Investment Portfolio will be run by a newly created 3/5 multisig run by the stewards.

Please vote either For if you want this proposal to be passed, Abstain if you hold back your vote or Against if you don’t want this proposal to be passed.