Fairdrive DAO Treasury Management and Payout Process

The Fairdrive DAO is committed to maintaining transparency and efficiency in managing its treasury and facilitating payouts for salaries and reimbursements for operational needs. This document outlines the procedures and guidelines that govern these processes.

Treasury Management

1. Gnosis Safe Multisig Wallet: The Fairdrive DAO treasury is managed through a multisig wallet on the Gnosis Safe platform. The multisig setup ensures enhanced security and governance, with the Governance team members acting as signatories.

Payouts for Salaries and Reimbursements

1. Monthly Invoice Submission: DAO members are required to submit an invoice by the 25th of each month for work performed. Payment is contingent upon:

   • The project/work being previously approved through a DAO proposal.
   • The conclusion of the project/work.

   Invoices must include a detailed report of the work done and provide links to evidence or deliverables.

2. Invoice Collection and Treasury Transfer: After collecting all invoices, the total amount in xDAI required for payouts is transferred from the multisig wallet to the DAO treasury account.

3. Funds Transfer to Governance Team: Subsequently, the funds are transferred to the Governance team for further processing.

4. Expenditure Creation and Payment Execution: A member of the Governance team is responsible for creating expenditures corresponding to each invoice and initiating payments accordingly.

5. Objection Period: A 72-hour objection period follows the announcement of intended payments, allowing DAO members to review and raise objections if necessary.

6. Voting on Objections: If any objections are raised, a voting period commences. DAO members with the appropriate reputation level vote to decide on the continuation or cancellation of the payments.

7. Finalization of Payments: In the absence of objections, or if the community votes in favor, payments are executed automatically, completing the payout process.