Please describe your proposed solution.
Summary
In the next 8 months, this proposal will provide 3 projects (Funded Catalyst Proposals) with treasury project management services.
This will include
- A setup meeting where we meet the client and work on a draft plan for their treasury project management. And ascertain viability and fit of our respective teams.
- Agreement on scope of treasury project management including : responsibilities, deliverables, meetings, resource commitments and fixed costs
- Agreement on routine treasury management : wallets, fund release, transactions (incl metadata), reports and documentation.
- Treasury project management for 8 months : budget meetings, project board status (deliverables / commitments), transaction and payment strategy, monthly report input, audit trail and final reporting.
For these services we are requesting less than 10% of the Challenge budget.
Any surplus from projects completing earlier than 8 months will be recycled into further commissions.
Detail
In the next 8 months, Treasury Guild Advisory Guild will seek 3 projects to assist with their treasury project management.
We will then arrange a setup meeting where we meet the proposal team and work on a draft plan for their treasury project management. And ascertain viability and fit of our respective teams.
The Setup Meeting
(Andre, Miro, Stephen, Felix)
Prior to the setup meeting we will send out preparatory advice in an email.
The setup meeting will determine :
Responsibilities - To identify who is responsible for what. That is, the person(s) responsible for the funded project. This is to clearly identify the project team to workshop or to meet with.
Deliverables - Deliverables will be identified and broken down into separate budget lines.
Commitments - Commitments will be established and assigned to project participants. So it is clear who is doing what and who should be paid for what tasks.
Fixed Costs - Fixed Costs will be identified so that a schedule of regular payments may be drafted (incl. subscriptions etc).
This initial meeting will take about an hour. It will provide an informal introduction and ideation. And it will decide whether we move forward together.
The Formal Agreement Meeting
(Andre, Miro, Stephen, Felix)
Prior to the Formal Agreement meeting we will send out preparatory advice in an email.
This will be an in-person meeting or conducted async
Agreement on scope of treasury project management (Treasury Project Plan) including : responsibilities, deliverables, meetings, resource commitments and fixed costs
Project Managing funded proposal budgets
(Andre, Miro, Stephen, Felix)
Our solution is to manage funded proposal budgets by -
Project management - Stephen, Felix
Setting up a project board and creating and assigning the following items on the board:
- Responsibilities
- Deliverables
- Commitments
- Fixed Costs
Once we have that set up we can predetermine payouts based on the monthly allocations received from IOG and avoid the risk of losing value caused by volatile markets by doing the payouts on the same day the funds are received.
Manage wallets - Andre, Miro
Ideally Treasury Guild should be the owner of the wallet, but since these projects have already provided IOG with wallet addresses the team would have to share the recovery phrases with Treasury Guild. We will manage the wallets and execution of transactions. Transactions made will carry metadata with them to help identify exactly what the transaction was for.
Create and maintain documentation of work and transactions - Andre, Miro, Stephen
Every time we make a payment the transaction gets documented in GitHub and Gitbook. It also gets sent to a Discord channel to inform the project team of the transaction. All the completed tasks of the project can be viewed in GitHub
Treasury analysis - Andre, Miro
Most projects on Catalyst evolve as they execute their deliverables. As these changes happen we also need to adapt and update the treasury project plan. Monthly reports will be generated and presented to the project team to open up any changes to the original plan and agree on the updated plan. Any updates to the monthly payments will be decided based on the monthly report. We will then prepare the information for the upcoming payments in Google sheets and on the day IOG releases the funds we will make all the agreed upon payments.
Please describe how your proposed solution will address the Challenge that you have submitted it in.
This proposal addresses the challenge by providing a free service to funded proposers. A service that will assist them with financial issues. This service can be provided to projects all over the world given it is in English. And this service benefits the funded proposal, the service providers and Project Catalyst.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
Trouble finding projects to service.
Mitigation
We are already doing work in lots of communities and if we can’t find any new funded projects to manage we can reach out to all the communities we are a part of.
Projects don’t meet the 8 month objective
Mitigation
If a project finishes before the 8 month period we will look for another project to service. If a project will take longer than 8 months to service we will use any surplus funds to fund the continued support provided to the project.