The DAO needs a robust system for managing its finances. To date, the systems in place have operated more like those of a pre-seed venture. Given the increasing velocity of contributions, the imminent introduction of wPOKT, and the need to more effectively manage our scarce resources, now is the time to take the next steps in elaborating of our “finance” function.

DAO Finance Philosophy

Below is a simplified depiction of how we manage the DAO’s finances

Objectives

Key Principles

Roles & Responsibilities

DAO Finance MVP

Planning, Budgeting & Controls

1. Policies & Procedures

   DAO Budget, Controls & Payments Policies

Accounting

Treasury Management

Financial Systems & Tools

To Do’s:

• [x] DAO Finance Spreadsheet
• [x] Operating procedures:
  • [x] Sockets & POPs
  • [x] Payments
  • [x] Reporting
  • [x] Cash Management
• [x] DAO Finance RACI