EthMagicians Treasury Management

finance
meta-magicians
#1

It’s time to return to the topic of managing the “treasury” of EthMagicians. And this time actually execute!

We just paid Asseth, the French Ethereum Association, the final bit of supporting the Paris event. We used OpenCollective to cover all the fiat expenses.

The ECF gave us a lump sum of ETH equivalent to $15K for three events. That was used for Prague and Paris.

Since I helped make it happen, I feel a responsibility to make sure that at least one more “big” EthMagicians happens.

I still haven’t been paid back for my fiat expenses for Berlin last summer, but that’s all on me. We need to write up the policy that reimbursement gets made at past exchange rates.

I propose that we ACTUALLY form a finance ring. I’m hoping @meknab has time to join and do the accounting & advising.

We need to add at least one more key holder.

And I propose that we keep some money in DAI to cover the next event, $5K from ECF. And make a call for organizers of this next event!

#2

So this will require some work, but since there is no corporate entity associated with ETH magicians, what if we contemplate adapting its Treasury it into a DAO?

#3

@meknab, the Gnosis multi-sig is currently the very simple DAO we’re using, perhaps we should upgrade to a more sophisticated option.

Background for others: this multi-sig is now used to accept sponsorships and donations, and then after events disbursements are made with some minimal governance/coordination.

I’d be happy to help with the Finance Ring. A key to-do I see is to formalize the ground rules a bit.

#4

Shall we arrange a call to discuss further? Or is there already something organized? Thank you!

#5

SGTM, it would have to be a week from now though.

In the meantime, we should document what we’d like to expand on / work on in a wiki post here, or use HackMD.