2,375,992,330 BEND (23.75% of BEND total supply) are in the DAO Treasury Reserve now. The use of these tokens can only be determined through community voting. The objectives of BendDAO Treasury management are to grow the ecosystem and improve the protocol’s market position.
Here are the suggested functions to help manage the DAO treasury. The treasury allocation will eventually be determined by DAO members.
Spending
The goal of treasury spending is to attract new contributors to build BendDAO together. Individuals and groups can create a new forum discussion to explain how they can help BendDAO and the details of their plan. The details should include Motivation, Fund Usage, and BEND amount involved.
Asset Diversification
The goal of asset diversification is to ensure that the treasury can continue to fund critical development irrespective of the market environment. The diversification can include but not limited to Incentives, Liquidity Provision, and Investment.
Governance process
BendDAO’s three-phase governance process is as follows.
- Forum Discussion and Feedback Collection
- Snapshot Voting
- Implementation
All ideas and proposals can be initially published in the forum by everyone. The point of forum discussion is to receive community feedback. The usual timeframe between the initial post and going forward with the proposal is 5 days. It could move on to the next step if the proposal gets positive feedback from the community.
The next step is Snapshot voting. The preferred timeline for DAO treasury related snapshot votings is 7 days.
| Amount (denominated in USD) | Minimum Quorum | Pass Rate |
|---|---|---|
| <$50k | 10% of the total supply of veBEND | 80% |
| $50k-$500k | 20% of the total supply of veBEND | The Pass Rate goes up by 1% for every $50,000 of the amount involved from 80%. |
For those successful snapshot proposals, the final step is the implementation.