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Payment Processing and Treasury Management

Description

  • Work with the board of directors and the Worker Proposal leads to ensure multisignature payment requests are sent to the board before the first of the next month in the amount necessary to complete all budgeted payments.

  • Help facilitate required changes to the board-controlled multisig treasuries (FIO and ETH) as board membership changes over time.

  • Complete all payments to approved worker proposals within approved budget limits as close to the first of the month as possible, with flexibility for weekends and holidays. For FIO payments denominated in USD, use the price of FIO on the third to last day of the month as shown in Coin Marketcap.

  • Check for and make approved payments every Monday using the closing FIO price on Sunday.

  • Evaluate and recommend Defi opportunities to safely engage the FIO treasury to grow it.

  • Along with the steering committee, coordinate with market makers in support of FIO Protocol token liquidity.

  • As I have been doing, I will continue to sign MOU documents as an authorized signatory representative of the foundation.

  • As I have been doing, I will continue to manage FIO domains owned by the foundation, set them to public/private, transfer them or renew them as needed. Beyond that, each WP lead should take responsibility within their own budget for any FIO domains they want to own or renew to meet their KPIs.

KPIs

  • Monthly payments completed by the third business day of the month.

  • Zero errors in payments (the right amount goes to the right person).

  • All weekly payments made on time.

Budget Description

Monthly Budget Description

15,000 * 9 = 135000 liquid FIO for board member payments (as currently approved by the board).

4500 USDC for time, labor, availability, and repetitional trust/risk required for this role.

32791 FIO for team token grants (currently around 98,374 FIO per quarter)

900 USDC for annual entity costs

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Luke Stokes 
April 7, 2023 at 4:08 PM

Unfortunately, we may have to cancel and resubmit this for vote as David reminded me today that it’s missing $25k annual fees for our Cayman management company. That was not included in the annual legal fees.

Automation for Jira 
March 31, 2023 at 2:12 PM

The Steering Committee has approved the initial WP.

Steering Committee Members Approving:
Ash Howe, Eric Butz, Pawel Mastalerz

Eric Butz 
March 31, 2023 at 2:12 PM

Approved

Ash Howe 
March 29, 2023 at 6:25 PM

Approved

Pawel Mastalerz 
March 29, 2023 at 3:21 PM

Approved

Unresolved

Details

Assignee

Short Name

Strategic Priorities

Other

Valid from

Valid till

Budget Type

Monthly

Intellectual property ownership

Terms and Conditions

Agree

Checklist

Created March 28, 2023 at 11:55 PM
Updated May 27, 2023 at 4:32 PM