AELIP-12: Treasury Management

Author
calavera
StatusImplemented
ImplementorTBD
ReleaseTBD
Created2022-03-09

Simple Summary

This AELIP proposes to formalise rules for usage and changes to AELIN’s Treasury. This AELIP is an improvement over currently approved AELIP-2, section “Treasury Management”

Abstract

The Aelin Treasury Policy will allow the Aelin Council to have predefined rules to execute various types of transactions needed for the operations of the protocol without having to submit a AELIP. As well, it will allow the Aelin Council to diversify and invest the Treasury in diverse asset classes to ensure the long term benefit of the protocol and a healthy & active Treasury.

Motivation

The Aelin Council is the governing body of the Aelin Protocol which also holds the Aelin Treasury on a multisig on the Optimism network. Given the power the Aelin Council has over the Treasury a more concrete set of rules needs to be agreed on to ensure protocol stability and also flexibility to take decisions for continuous operation of the protocol.

Specification

Overview

Aelin Treasury Policy

  1. The Treasury will be managed by a multisig voting mechanism. A supermajority of Aelin Council seats (N) (N/2 + 1 - if N is even or to Ceiling(N/2) - if N is odd) is the required number for a decision to reach consensus.
  2. The Aelin Council must work together with the Core Contributors to produce Treasury Reports on at least Quarterly basis and present to the Community for discussion
  3. The Aelin Council does not need to create new AELIPs as long as the transaction is allowed by this AELIP
  4. The Aelin Council is allowed to create new AELIPs to amend or change the rules set in this AELIP
  5. The Aelin Council is allowed to execute transactions for protocol operations such as:
    • necessary payments (ex. 3rd parties),
    • recurrent payments (ex. salaries & contractors),
    • transferring funds to contracts (ex. ecosystem incentives and inflationary rewards),
    • refunding deployment and transaction costs to Aelin Council members and Core Contributors,
    • vesting of tokens to Core and Early Contributors
  6. The Aelin Council is allowed to make changes to the Treasury distribution, such as:
    • acquire & swap assets
    • move assets to other networks provided there is a multisig owned by the Aelin Council
    • invest into Liquidity Pools, Yield Farms and similar protocols
    • invest into other DAOs
  7. The Aelin Council is allowed to launch future Aelin pools to diversify & increase treasury assets
  8. The Aelin Council will initially hold the 2% fee from completed Aelin Pools on behalf of the community until AELIN staking and fee distribution is enabled

Rationale

N/A

Technical Specification

N/A

Test Cases

N/A

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