Executive Summary

The 8DAO contributor team hereby present the Season 7 (1 April 2024 - 30 Sep 2024) proposal to 8DAO members.

Season 7 Strategic Goal

“Diversify Tokens In 8DAO Treasury”

In season 7, 8DAO contributor team established a new strategic objective: "Diversify Tokens In 8DAO Treasury". With the recent resurgence of the bull market, it's an opportune time for investment. Diversifying our treasury token is essential for enhancing and stabilizing our financial standing. This strategy allows us to spread our treasury across a broad array of tokens. With this in mind, our token treasury diversification could involve investing in a variety of established tokens. A promising strategy might be to invest in the top 100 market cap cryptocurrencies. The decision to diversify the portfolio will be ratified by the contributor team. An updated portfolio summary will then be available for members to review.

In season 6, a substantial proposal was put forth to swap 150,000 USDT from the treasury and convert it into Ethereum (ETH). This move was seen as a strategic decision to diversify the treasury's holdings and leverage the potential growth of Ethereum. As of the present date, March 25, 2024, this decision has proven to be a sound one. The value of Ethereum has seen an impressive increase, surging by over 50% since the swap was made. This significant rise in value has not only justified the initial swap but also shown the potential benefits of such strategic financial decisions.

This season's key content is as follows:

1. One of our main strategies will be to invest in the top 100 market cap cryptocurrencies using the treasury fund. This diversification will provide us with exposure to the entire crypto market, allowing us to leverage the potential high returns that these assets may offer.

2. We have also decided to downsize our contributor team from 6 to 5 people. This decision was made after careful consideration, and we believe that a smaller, more focused team will be better able to take on the challenges and opportunities that lie ahead.

3. Lastly, we will be holding real-life events where we will share and discuss the current hot topics in Web3, such as BTC layer 2, DePin, and others. These events will serve as a platform for networking, learning, and sharing insights and predictions about the future of these technologies.

Consolidated Season 7 Budget

Season 7 Proposal Contributing Team

Full version of the Proposal

Executive Summary

The 8DAO contributor team hereby present the Season 6 (1 Oct 2023 - 31 Mar 2024) Proposal to 8DAO members.

Strategic 6 Goal

“Grow the treasury via opportunities in Ethereum Ecosystem”

In season 6, the Executive Committee has agreed to set a new strategic goal: “Grow the treasury via opportunities in Ethereum Ecosystem”. As a NFT and DAO focused community, the team believes ethereum will continue to play a leading role in the coming cycle. Focusing opportunities in the ethereum making our capital allocation more efficient through the team and community’s knowledge and experience of the ethereum. As the time length of the bear market continues to be unclear, we believe it’s in the community’s best interest to maintain operating costs at a low level. Here are the key content of the proposal:

1. Convert 60% of treasury 150,000 USDT/USDC to ETH. Option by Executive committee to stake the ETH in low-risk protocols to earn passive income for the treasury

2. NFT fund will continue to look for NFT investment opportunities in Ethereum

3. Extend seasonal length from 3 months to 6 months. This will help to reduce administrative hours which lead to lower operating costs

4. Instead of proposing goals and tasks by each contributor at the beginning of each season in the past, from season 6, all contributors' roles and contribution hours will be set at a level that maintains the basic operation functions of each position. A general budget will given to the Executive Committee to decide if to support certain initiatives proposed by the contributors or the community in the middle of the season

5. As the executive committee agreed to slow down venture investment given the market conditions, rotation of the Investment Committee will be paused.

6. Down size contributor team from 10 to 6 people and strictly control the hours to control compensation expense

Consolidated Season 6 Budget

Season 6 Proposal Contributing Team

Full version of the Proposal

Executive Summary

The contributors hereby present the Season 5 (1 July - 30 September 2023) Proposal to 8DAO members.

Strategic 5 Goal

“Enhance Treasury Economics”

In season 5, the Executive Committee has agreed to continue Season 4’s strategic goal of “Enhance Treasury Economics”. The purpose is to establish a sustainable financial mechanism for 8DAO. We expect the bear market will last for an extended period of time, and a closer look at our costs and cash position is a prudent arrangement. 3 main points:

1. Continue to be cautious with expenditure. Cut all unnecessary costs as much as possible
2. Finding a web3 revenue model in the bear market is difficult. The team will be realistic about this when it comes to initiative planning
3. Be cautious with investment risk and adopt a more conservative approach

Consolidated Season 5 Budget

Consolidated Season 5 Budget

Season 5 Proposal Contributing Team

Season 5 Proposal Contributing Team

Full version of the Proposal

Executive Summary

The contributors hereby present the Season 4 (1 April - 30 June 2023) Proposal to 8DAO members.

Strategic 4 Goal

“Enhance Treasury Economics”

The purpose is to establish a sustainable financial mechanism for 8DAO. We expect the bear market will last for an extended period of time, and a closer look at our costs and cash position is a prudent arrangement. 3 main points:

Focus on cost control and the financial benefits of all DAO initiatives. A positive cash flow mindset.

Explore different capital allocation options. Study the possibility of deploying capital across different options. Capital growth while taking on calculated risks acceptable to the community.

Prioritize new initiatives that can bring in cash flow or liquid assets in the short term.

Major executive structure change:

A new, flatter team structure to replace the old block leader + contributor system. We envision 9 unit leads spearheading the various functions of 8DAO, with other general contributors reporting to them. All unit leads are candidates for the executive committee. We will implement an election process in which all contributors vote (5 votes each, open voting) to select the 5 Executive Committee members. The election takes place once at the beginning of each season.

Executive committee key functions:

Handle the following key decision making for 8DAO a. Approve use of treasury funds for all expenses exceeding USDC 1000, within each seasonal budget b. Approve partnerships c. Approve contributors’ commitment hours and compensation d. Select investment committee members

Review and approval of seasonal budget proposal

Main Objectives of executive structure change:

Ensure Executive Committee members who have the power to make core executive decisions are those who are recognised and voted in by fellow contributors, in terms of their decision making ability, contribution performance, integrity and putting 8DAO interests first.

Meritocratic Progression - Ensure new contributors who perform well have the opportunity to enter the core decision making group, the Executive Committee.

Increase the number of contributors doing peer assessment. Improve accountability

Making the DAO function not reliant on any individual. Reduce key-man risk.

Making the executive structure more flat, with more specific roles focused on leveraging each contributor's core skill set.

Consolidated Season 3 Budget

Season 3 Proposal Contributing Team

Full version of the Proposal