This is a post intended to create a discussion and get a temperature check around creating a Strategic Finance Unit (SFU) for SuperRare.
From perusing the discords and governance forums, it does not appear to exist yet. I believe very strongly that SuperRare would benefit greatly from having a more formalized approach to its finance function, particularly given the bearish macro-economic backdrop.
Here are a few examples of what creating an SFU would entail:
Developing historical financial statements in classical P&L format of publicly traded companies
Creating a monthly budget for the next annual year that includes specific spend targets around categories such as hiring, marketing, R&D, etc.
Preparing a long-range financial forecast to measure various operational scenarios on future revenue, expenses, cash runway, treasury size, etc.
Develop a comprehensive treasury management strategy (currently most of treasury denominated in RARE; plan would be to institute an ongoing diversification strategy to have more ETH and stables in treasury)
Create guidelines around contributor rewards, salary, etc.
In my previous life as an investment banker, I worked with finance teams at leading public companies and the objective of this effort would be to replicate some of the best practices there to put SuperRare in the best possible position to succeed.
Happy to answer any questions or have a broader discussion on the merits of this plan. If there is interest, I would put together a more detailed proposal on the plan.
SuperRare DAO and SuperRare Labs are two separate entities. SuperRare DAO is not like your typical DAO where everyone is employed by the DAO.
Currently SuperRare DAO receives all the commission and fees, and no outflow of funds has gone out of the DAO Treasury. All funds are currently subject to SIP proposals and community voting.
SuperRare Labs is the entity that gave birth to the SuperRare DAO. It employees everyone that is currently part of SuperRare.
I believe your proposal is conflating the two entities.
@SamB I’d love to submit this for a temperature check but before submitting it just need to address a few things. If you can format the proposal w/ the template below, that would be helpful.
Title - Simple and informative title. Suggested word limit - 10
Preamble - Headers should include; Author, Status, Type, Implementor, Sponsor(s), Link to Temperature Check Poll, Created Date. Suggested word limit - As Needed
Summary - A short 2-3 sentence description of the SIP. Suggested word limit - 50
Abstract - Detailed summary that touches on technical aspects and how the network will change. Suggested word limit - 250
Motivation - Explain why this is being proposed and what the outcome of implementation will be. Suggested word limit - 100
Specification - Describe full technical details of how this improvement will function and what will be effected. Suggested word limit - 1000
Benefits - Explain what the explicit benefits of this proposed change are. Suggested word limit - 100
Drawbacks - Analyze explicit and potential drawbacks of implementing this update. Suggested word limit - 100
Outcomes - Explain how we will know whether the proposal was successful or not. Please provide specific metrics that will be tracked, the timeframe for those metrics and how you they will be made available to everyone in the community. Suggested word limit - 100
amazing, thanks Sam and thanks to @EdSRL for calling out the specification format. It’s always encouraged to post thoughts and ideas for SuperRare, but if you want the governance wheels to start turning you have to comply with the procedures. Considering the depth of convo that can be had about this proposal, I’d recommend that we try to schedule some live discussion about this proposal in addition to presenting it at the next SuperRare town hall
That sounds like a great plan. Can definitely put the proposal in the appropriate format. Would be great to set up a call to discuss live, walk you through what I am thinking, and ask you some questions.
@SamB Legend! I think our DMs are disable but feel free to ping us on Discord and we can connect. We also have the DAO town hall scheduled for July 6th. You can RSVP over on the event tab. As @elo mentioned, we can set up a live discussion before the town hall to get the community involve and hear about your thought process.