juicebox

Author: gulan
Date: (2022-09-25)

Synopsis

State what the proposal does in one sentence.

Transfer treasury funds from v1 treasury to v2 treasury to cover ongoing payouts from the v2 treasury.

Motivation

What problem does this solve? Why now?

The v2 treasury was initially funded by JBP-210 with $200,000 USD in eth and has continued to collect fees and contributions. The expenditures have exceeded the income from fees and contribution and a new top off is required. This proposal will transfer an additional $200,000 USD.

Additionally, with the great progress of Naunce by @jigglyjams, Juicebox’s funding cycle configurations are automatically created for v2, and thus Juicebox governance has an incentive to move as many payouts from v1 to v2 as possible. It can be argued that we should transfer more than $200,000. Let me know in the discussion.

Specification

How exactly will this be executed? Be specific and leave no ambiguity.

Transfer @$200,000 from Juicebox v1 treasury to Juicebox v2 treasury.

Rationale

Why is this specification appropriate?

If we do not do the specification, we will not be able to payout the v2 projects obligations and would be forced to “default” on the projects obligations or move payouts from v2 to v1.

The $200,000 value is arbitrary and I invited debate/feedback on this value in the discussion.

Additionally, snapshot ends on the Friday before the configuration is executed. It might make sense for the DAO to allocate this transfer from the multisig balance. Although this would cause issue’s to previous allocations. ——- I will strike this argument following discussion.

Risks

What might go wrong?

The price of eth could drop substantially in the future and the $200,000 may not be enough. Additionally, the transfer specified in this proposals likely needs to come before the v2 payout occurs in FC#32 otherwise, there may not be enough funds in the treasury to payout the obligations.

If this proposal is not met, an emergency proposal may be required to ensure obligatory funding.

Timeline

When exactly should this proposal take effect? When exactly should this proposal end?

This transfer will occur in FC#32

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