Over the past several months we've worked in the open to develop a 12-month budget for the Treasury Guild. This budget can be seen at the link listed below. **This budget is a spend approval - not a spend mandate.** Here is a walkthrough guide for reading it: * When you open the budget you will find three tabs: > 1. "Budget" - a line-by-line and month-to-month breakdown of expenses. > 2. "Assumptions" - contains all variable inputs to the budget. This should serve as a focal point for any discussion. > 3. "Assets" - the treasury's assets updated on May 20th, 2022. * The budget is broken into three high-level categories, respectively: > 1. Liquidity Incentives - which primarily comprise a budget for incentivizing liquidity providers for T LPs, tBTC LPs, and thUSD LPs. Historically, we have used Votium and bribe.crv for this. Going forward we plan to use Paladin's Warden application, which have started testing this week. > 2. Compensation - comprises the stipends for all existing committee members, the Threshold council, and our Director of Research. Additionally we have a budget for the development and audit of thUSD as informed by @ben and @EvandroSaturnino . And lastly, we have budgeted for a Project Manager role, which is currently vacant. > 3. Other - this categories includes a conservative budget for (a) the tbtc coverage pool rewards, (b) conferences and hackathons, (c) treasury diversification, and (d) the repayment of the DAO's T-ETH loan. Let's breakdown 3(c) and 3(d) a little deeper since this is the least obvious: >3(c) -> We plan to diversify the treasury into ~$5m of tBTC and ~$5m of Convex. This is the equivalent of ~2400 ETH worth of each. The purpose of the tBTC purchases is to help build liquidity for our flagship product. The purpose of the Convex purchases is to help direct liquidity towards all of our product offerings. Rather than indicating a schedule, we place this entire expense in the final month of the schedule. However, we intend to do this opportunistically, whenever it is in our best interests. This is a deliberate decision to avoid being front run. >3(d) -> The DAO's T-ETH loan should be paid back so that we can start to accrue the fees and rewards and so that we can avoid any significant IL accruing. For that reason, we have included a monthly payback schedule. More information about the loan can be found in this post: https://forum.threshold.network/t/proposal-eth-loan-to-threshold-dao/196 ---- **Note that:** * This does not include revenues as it is purely a spending approval. * Not every line item is an expense! The majority of the spending in this proposal is to diversify the treasury, which should serve to preserve or increase the value of the treasury over time. * With our current protocol-owned-liquidity (that we plan to increase), we will capture a significant share of the liquidity incentives ourselves. * This is marked in USD, however the expenses and the treasury's assets are primarily in T. If there are significant changes (which we define as +/- 50%) to the market value of T the Treasury Guild should consider revising the budget and seeking re-approval. https://docs.google.com/spreadsheets/d/1pRL6RaUIts-X4DRacp7P8Lx1dTbtR87q-102Rzhm-fI/edit?usp=sharing **I propose the following schedule:** * Forum Discussion Started - 2022-05-22 * Forum Discussion Concluded - 2022-05-29 * Snapshot Vote Started - 2022-05-29 * Snapshot Vote Concluded - 2022-06-01

**👋 Intro:** This proposal standardizes the TIP flow and TIP template to provide more structure to the growing Threshold governance process ahead of our first Governor Bravo (GB) vote. The flow is a detailed extension of the one previous validated in the Threshold DAO v2 proposal. No GB parameters have been changed. Threshold's governance system is polycentric. With the introduction of GB there are a few categories of likely future Threshold proposals: * DAO-wide proposals that require and trigger immediate onchain action * DAO-wide proposals that do not require and do not trigger immediate onchain action * SubDAO specific proposals. SubDAO refers to individual Threshold Guilds, Threshold Council This proposal was reviewed by @dougvk, @Nous, @Derek, @jakelynch and Chris before publishing. ---- **⛓DAO-wide proposals that require and trigger immediate onchain action:** These are votes that directly impact the protocol and require immediate onchain actions such as adjustments to tBTC v2 governable parameters. This process applies to both the Token Holder DAO and the Staker DAO. *Step One — Forum Post* * Anyone can post a potential proposal * Must have sponsor from an elected DAO representative such as a council member or guild committee member (reduces spam) * Post lives on forum for 3 days to be discussed and debated by the DAO. During this time edits and adjustments can be made to the proposal based on feedback. *Step Two - Temperature Check* * Proposal is moved to snapshot * Edits can no longer be made to the proposal * Proposal must receive >50% support on the snapshot * 100M T quorum on snapshot * Temp check snapshot is 3 days *Step Three - Proposal Creation* * Community member meeting proposal threshold vote weight creates onchain proposal * Two day delay before voting begins *Step Four - Vote Period* * Onchain Proposal voting remains open for 10 days *Step Five - Execution* * Proposals that pass according to criteria of our validated gb dynamics move onto execution phase (2 day time delay) * Proposal that don’t pass are automatically canceled -------- **🙅‍♂️DAO-wide proposals that do not require immediate onchain action:** GB is fantastic but it is not the best (or most cost effective) way to query the DAO for decision making in every instance. Proposals that do not require immediate onchain action will still leverage snapshot for more efficient off chain voting. *Step One - Forum Post* * Anyone can post a potential proposal * Must have sponsor from an elected DAO representative such as a council member or guild committee member (reduces spam) * Post lives on forum for 3 days to be discussed and debated by the DAO. During this time edits and adjustments can be made to the proposal based on feedback. *Step Two - Vote* * Proposal is moved to snapshot * Edits no longer can be made to proposal * 5 day vote window * 2.5% quorum *Step Three - Execution* * Two day time delay after the proposal passes before it is considered fully validated * Council can veto the result of the proposal during time delay * If it is not vetoed during this period the proposal is considered validated and off chain action can be taken ------- **🍵Threshold SubDAO Specific Proposals:** Threshold SubDAO votes will continue to be handled on a per group basis. For example, the Threshold Marketing Guild currently has a separate thread on the forum for to be considered proposals and the Threshold Treasury guild can continue to internally vote on ecosystem liquidity incentives. ------- **🔑 Threshold Improvement Proposal Template:** This template is the suggested format to follow for TIPs but is not absolutely required in every case. TIP Number and Title: Vote Type: DAO Elected Representative Sponsor: Overview: Milestones and Deadlines: Who is Involved: Why: Detailed Summary: Tx Details (If required): Additional Info (Optional): *If the TIP involves a major product change or feature addition the following categories should be added:* Scope: * Must Have: * Nice to Have: * Not in Scope:

**Objective** This proposal is for the Threshold Network DAO to fund the Threshold project manager (PM). I am submitting this proposal after having been invited to attend several DAO meetings, and a meeting sync between the teams. My observations of the current needs from the DAO come from the audits of these meetings plus the insights I obtained by reading the public discord channels and the Threshold Notion. **Environment** This PM role will be developed in the Threshold DAO environment, where there is a strong need for fluent and smooth collaborations and communications between the following entities: * The DAO community. * The Threshold Guilds: Integrations Guild, Marketing Guild, Treasury Guild. * The Keep team. * The NuCypher team. * The thUSD team. **Scope** The role of the PM in this environment would be shaped as a facilitator, where the main pillars in which it would be founded are: visibility and communication. Through visibility, understanding and acknowledgement are achieved. It is necessary to provide an up-to-date single source of truth for the teams and the Guilds, to communicate their lines of work, their resources, their successes and lessons learned. This central knowledge source should be available to consult from any member of the community. Communication processes are needed to keep the community informed about the different initiatives, their progress and successes. Also, mechanisms should be put in place to receive inputs and requests from the community, where new ideas can be included in the line of work, enriching the community (and avoiding losing these insights in the background of the discord channels). It is through communication that effective management is achieved. Keeping track of the different teams’ work in progress will help unblock the problems and interdependencies arising, and mitigate their impact on the different initiatives within Threshold. A document scoping the competencies for the Threshold PM is provided [here](https://docs.google.com/document/d/1rBiSLMLX7ATanP603g_R0zz8-h7xIBfYF2AdGM6_zEw/edit?usp=sharing). It’s important to note that the Threshold PM position does not hold a higher hierarchy over any team, being independent from them and reporting this way only to the DAO. As a facilitator role, its focus is to introduce visibility and communication processes. Teams and guilds will continue to be independent and self-sovereign. **My background** I currently work as a Technical Program Manager at a SW development company in the web2 environment, where I’m doing a founding PM job bringing processes and standards to the company’s DevOps department (currently composed of 3 sub-departments, having 3 squads of engineers each) in order to align their ways of work with the company-wide processes. Here I find the usual clashes of agile although very procedural groups (working in sprints and following structured processes), with non-procedural working efforts guided by a kanban-style methodology. A situation similar to the one occurring within the Threshold community. Regarding my studies, I have a Bs and a Ms in Computer Science with major focuses on SW Engineering, Artificial Intelligence, and Project Management. I developed my master thesis in Project Management, focused on the study of agile methodologies, analyzing the most popular ones applied to the IT world, procedures and useful guides and tools to manage them. Later on, I got a Google certification as Project Manager. I also have a PhD in cyber security, focused on the protection of the information in Critical Infrastructures. Here, my thesis was oriented from the perspective of Business Analysis, where I studied the main characteristics and needs of complex interconnected legacy systems, in need of preemptive security mechanisms such as Intrusion Detection/Prevention Systems and the possible security AI-driven actuators. As part of my work in research, I have participated in many national and international projects that involved coordinating efforts from both academic institutions and different industries. Additionally, I have a deep domain knowledge about the different initiatives being developed in Threshold, and I am especially acquainted with the PRE project and the NuCypher team, since I have a personal relationship with @davidnunez. This allowed me to follow the project since its inception and gain deep knowledge on this particular space. This will reduce the job’s entry barrier and the regular onboarding time period. **Cost** This proposal is for a Project Manager position in the Threshold community. The overall conditions are very similar to the thUSD proposals to the DAO. * Rate $500 USD per day paid in T, USDC and/or ETH. * The T token and ETH price taken as the global average price as recorded on coingecko for the day that the work was completed. * This rate is consistent with the Project Manager allocation in the [current budget proposal](https://forum.threshold.network/t/proposal-12-month-budget-for-treasury-guild/348). * Hours reviewed and approved fortnightly. * Tokens transferred monthly. **FAQ** Q: Would you consider reducing the budget? A: A budget reduction would be difficult, however, I would consider starting with a reduced number of hours allocated to the job, and setting a process for progressively increasing the weekly number of hours. Q: When can you start? A: When a vote passes and a review team is selected and approved, I can start contributing part-time. After July 15th, I can start to work full-time. Q: How many days a week can you commit? A: 5 Q: Will your personal relationship to @davidnunez from the NuCypher team impact your ability to work together? A: I don’t think this will be an issue, since the PM work will serve as facilitator among the different teams and groups present in the Threshold community. NuCypher team is just one of the actors present and this position holds no higher hierarchy over any team or guild, being independent from them and reporting only to the DAO. The main tasks needing interfacing with the teams would be roadmap check-ins, status check-ins and communications provided to the teams for visibility (executive summaries, updates and synchronizations).