TIP 55: Contractor role for POL Operations Coordinator
Jul 2023 · Eastban
## Vote Type
Token holder DAO Snapshot with a 7-day vote period.
## DAO-elected Sponsors
@ben @JohnPackel @Sap @jakelynch
## Timeline
* 7 days for comment / discussion on this proposal
* Token holder DAO Snapshot with a 7-day vote period
## Definitions
### Protocol Owned Liquidity (POL)
Assets owned and controlled by the DAO that are used to provide liquidity.
## Purpose
This proposal is a request to the Threshold DAO to fund a POL Operations Coordinator role for the purpose of overseeing all operations for the DAO’s Protocol Owned Liquidity. This proposal recommends East as a candidate for the position.
## Motivation
Threshold Treasury Guild has become an important working unit in the DAO. The guild was created and empowered by the DAO to work towards a strong, diversified and resilient treasury portfolio, to grow protocol owned liquidity, and to manage incentives for Threshold services and products..
Management of these activities requires heavy involvement of the guild’s committee members. The successful launch of tBTC, new exciting proposals, and the DAO’s expansion to L2s and other chains creates a persistent workload for the TTG. It is obvious that specialized roles with more time allocation are necessary. Roles such as Growth Lead (Incentives and Expansion) , POL Operations, Chairman (Meetings, Agenda, Moderation, Structure) and Finances (Accounting, Report, Payroll) are evident posts.
In practical terms this means that the TTG will continue to provide the strategy and oversight for the treasury with its 9 seated committee multisig as the core security mechanism empowered by the DAO.
The POL Operations Coordinator specialized role has the intention to increase TTG’s bandwidth by focusing on the following areas:
**1. POL management**
The DAO’s Protocol Owned Liquidity primarily consists of its governance token, T. This POL is deployed across several pools on Mainnet like the Curve T/ETH pool and the Balancer T/ETH 80-20 pool.
The DAO recently increased the number of tBTC pools across multiple DEXs on L2s with active incentives deployed to several. In addition to tBTC, the T token’s presence expanded to L2. Past and current diversification efforts and reward harvest increased the number of other assets in DAOs treasury, such as CVX, BAL, ETH, tBTC, WBTC, CRV, AURA, etc. All of these assets require a constant overview and active management.
**2. Budget Overview and Execution**
The Threshold Treasury Guild’s Budget has evolved and includes multiple line items (incentives, comps, expenses, allocations for diversification, etc.) that need management. The operations involved are rather complex to follow, require significant attention, coordination and collaboration with other specialized roles to ensure proper execution.
**3. Successful Multisig Operations**
Contracts, dApps, POL, diversification efforts and Budget require multiple constant multisig transactions which need to be addressed in a timely fashion. These operations call for knowledge of protocols and dApps, and should be reinforced with the occasional coordination with other expert members of the DAO.
## Scope
The scope of this role will be a 20-hour/week POL Operations role at Threshold DAO, remunerated at the DAO’s contractor rate of $85/h.
The position will have the following responsibilities:
* Assist DAO decision-making to deploy POL
* Track POL assets allocation
* Monitor yield on existing POL
* Research new alternatives for POL
* Analyze diversification alternatives
* Work on UniV3 (e.g. Arrakis, Sense)
* Research and test Limit Order capabilities for the DAO (e.g. CowSwap, 1inch)
* Discuss and setup T to ETH transactions
* Collaborate on the preparation and execution of new initiatives (e.g. Bonds, 8020 pools)
* Track and set up Harvest rewards and loan repayment transactions
* Track Voting Power, governance token assets and allocation
* Vote with delegated governance tokens on behalf of the DAO
* Budget preparation, discussion and ratification with TTG
* Budget analysis and tracking
* Research new software tools and dApps for multisig optimization
* Analyze contracts codes and build JSONs to further automate transactions
* Collaborate and coordinate with TTG and Council on diverse multisig transactions
## Oversight & Review
The POL Operations Coordinator role will operate under the oversight of the Threshold Treasury Guild (TTG) and execute on decisions made by the TTG. The position and performance will be reviewed on a quarterly basis by the TTG, upon delivery of a self-evaluation to the committee.
The performance of this position will be determined based on committee review of a self reported quarterly summary of work achieved, based on the scope listed above.
### Key areas of assessment will be:
* POL overview report
* Budget review and oversight
* Diversification summary
## Recommendation
Recommendation is that Threshold DAO contracts with East for a 6-month renewable period working 20 hours/week at a rate of $85 USD per hour, starting August 2023.
### Background
With a track record of launching and developing Guilds and their strategies, East has demonstrated the necessary motivation, capability, and experience in this role. He has past experience in business management and development, product launches, and board of director roles.
East is an active contributor to Threshold, past contributor to Keep Network and other DAOs such as Taho, and has thus far contributed the following to Threshold DAO:
* Former elected member of Threshold Council.
* Elected member of Threshold Treasury Guild since inception.
* Elected member of Threshold Integrations Guild since inception.
* Delivered Threshold Treasury Guild reports to the DAO several times.
* active engagement on current multisig transactions deployment.
* Elaborated TTG’s budget on several occasions.
* Participated in numerous integrations such as Arrakis, Curve and Aura.