It has been about the 2 months into the Treasury Management Term for myself and team.
We have been able to accomplish some positive things, especially on the defensive side of things in these markets. Nonetheless, the markets have worked heavily against us.
Some notable accomplishments during the past two months:
- WIP passage for Redemptions per quarter, defining TM roles.
- Early sales of BTC, ETH, FTM, SUSHI.
Some notable setbacks during the past two months:
- Inability to get compensation for Convex Votes
- Losses on purchases of WBTC, ETH, and trading UST.
- Overall market losses
Farming yields have collapsed as well, and offer little risk-adjusted returns. Further, Frog Nation related positions have dropped in value dearly.
I simply propose to have a contingent extension on the Redemption (WIP 9) implemented: Upon the implementation of the redemption contract and after those who opted to redeem have redeem for funds - my post as TM will terminate 10 Calendar Days later or July 24th (the 3 month mark when I took over as TM), which ever is later.
The multi-sig will revert to the Founders, considering there are no other candidates to fulfill the TM position.
I would ask those in the community to find a viable candidate, upon the expiration of this term and hopefully this extension I have proposed.
As the original WIP was a 5% share of profits, given that this will be almost certain that there are no profits as defined by the WIP, this extension being transitory will be for no fees.