8DAOIP - 10 - Season 6 Proposal
8dao.ethDescription
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:
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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
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NFT fund will continue to look for NFT investment opportunities in Ethereum
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Extend seasonal length from 3 months to 6 months. This will help to reduce administrative hours which lead to lower operating costs
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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
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As the executive committee agreed to slow down venture investment given the market conditions, rotation of the Investment Committee will be paused.
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Down size contributor team from 10 to 6 people and strictly control the hours to control compensation expense