Treasury Ops Workflow

Understand MMM Meeting Formats

Review the structure of the MMM Meetings to better understand how and when to contribute: 

📒
Meetings @ MMM
 

🕒
Weekly Team Syncs
 

Know your points of contact

Know who you will be interacting with on a day-to-day basis, what they are responsible for, and how to contact them in relation to specific project needs. 

Some frequent points of contact are:

MMM Ops

All MMM Employees

💡

More information about the members of MMM and their roles can be found here:

💁
Who’s Who? (Roles @ MMM)
 

Manage Quarterly Budget

There are four accounting quarters and the annual budget is split between them. The incoming budget usually arrives in the first month of each quarter, in the form of Gitcoin. There are four accounting quarters and the annual budget is split between them. The incoming budget usually arrives in the first month of each quarter, in the form of Gitcoin. 

Conceptually split the budget into four swaps, to be made throughout a season. This helps avoid lowering the price of the token selling it in bulk.

Determine the best times to swap by analyzing the price of tokens. CoSwap, Uniswap, and Etherscan are useful tools for analyzing token price. If there is a significant increase in the price of tokens, check the Treasury Management Policy for how to proceed.

Execute the swaps. Typically, one or two swaps are done very soon after receiving the budget. This creates financial security in the multisig. The remaining swaps occur later in the second or third months. Sometimes both of the remaining swaps are made in month two. Sometimes they are split between month two and month three. This decision depends on the state of the market.

Prepare for Contributor Payments

Full-time and part-time contractors submit their hours on a Google Form every Monday. Full-time contractors are paid monthly, on the last Thursday of every month. Part-time contractors are paid weekly, on Thursdays. 

Export the information from the submitted Google Forms as a Google Sheets document. Save the sheet in Drive as "Utopia_date_FT" for full-time or "Utopia_date_PT" for part-time.

There is a Google Sheets document with the compensation rates of each contributor. Once you have it open, multiply the total number of hours of the contributor by the rate of compensation and place it in the document that was exported from Google Forms.

Check the feedback field. There may be notes about the contractor’s submission (for example, submitting additional hours because they were missed in last week’s submission) or about concerns (such as requesting more hours).

Once complete, inform MMM Ops of any relevant concerns from the contractors’ feedback and share the Google Sheet with him. He will review the submissions by end-of-day Wednesday.

Process Contributor Payments

On Thursday, once MMM Ops has approval has been received, process the payments to each contributor from the spreadsheet. 

Create a CSV file with columns for name and compensation. Add the each contributor’s name in the name column and the amount to be compensated next to it in the compensation column. Download the CSV and import it into the Utopia payment management tool.

Pull the each contributor’s wallet addresses from Utopia or use the previous week's payment template if the address hasn't changed. Payments are processed using Gitcoin's token, unless specified otherwise.

Initiate the transaction in Utopia, bundling all payments into one transaction. To process the transaction, a co-signer is needed from the multi-sig group (Laura Hellen, Laura, Matilda, Scott, Simona, Michael Green). Follow the MMMultisig Policy for best practices

Send the transaction and ensure it is successfully completed. Once successful, make sure to delete the CSV file that was stored locally on your computer.

Create End of Season Report

At the end of each season, an end-of-season report is created, which goes through all transactions and maps the spending to their key initiatives. 

Export a list of all transactions throughout the season from Utopia

Go contributor by contributor and adding up all their payments into one sum

This helps to see how much has been spent on each activity.

Review and Update Treasury Management Policy

At the end of every season, you will review the Treasury Management Policy and update it if needed. Updates are based what was learned throughout the season or suggestions made by DAO directives. 

Assist Internal Audit

As a relatively new process, an external auditor reviews all transactions and ensures that everything is mapped correctly. During this process, provide all transactions from the season, answer any questions the auditor may have, and provide any additional information that is needed. Details about this process will be expanded soon. 

Treasury Ops Workflow

Understand MMM Meeting Formats

Review the structure of the MMM Meetings to better understand how and when to contribute: 

📒
Meetings @ MMM
 

🕒
Weekly Team Syncs
 

Know your points of contact

Know who you will be interacting with on a day-to-day basis, what they are responsible for, and how to contact them in relation to specific project needs. 

Some frequent points of contact are:

MMM Ops

All MMM Employees

💡

More information about the members of MMM and their roles can be found here:

💁
Who’s Who? (Roles @ MMM)
 

Manage Quarterly Budget

There are four accounting quarters and the annual budget is split between them. The incoming budget usually arrives in the first month of each quarter, in the form of Gitcoin. There are four accounting quarters and the annual budget is split between them. The incoming budget usually arrives in the first month of each quarter, in the form of Gitcoin. 

Conceptually split the budget into four swaps, to be made throughout a season. This helps avoid lowering the price of the token selling it in bulk.

Determine the best times to swap by analyzing the price of tokens. CoSwap, Uniswap, and Etherscan are useful tools for analyzing token price. If there is a significant increase in the price of tokens, check the Treasury Management Policy for how to proceed.

Execute the swaps. Typically, one or two swaps are done very soon after receiving the budget. This creates financial security in the multisig. The remaining swaps occur later in the second or third months. Sometimes both of the remaining swaps are made in month two. Sometimes they are split between month two and month three. This decision depends on the state of the market.

Prepare for Contributor Payments

Full-time and part-time contractors submit their hours on a Google Form every Monday. Full-time contractors are paid monthly, on the last Thursday of every month. Part-time contractors are paid weekly, on Thursdays. 

Export the information from the submitted Google Forms as a Google Sheets document. Save the sheet in Drive as "Utopia_date_FT" for full-time or "Utopia_date_PT" for part-time.

There is a Google Sheets document with the compensation rates of each contributor. Once you have it open, multiply the total number of hours of the contributor by the rate of compensation and place it in the document that was exported from Google Forms.

Check the feedback field. There may be notes about the contractor’s submission (for example, submitting additional hours because they were missed in last week’s submission) or about concerns (such as requesting more hours).

Once complete, inform MMM Ops of any relevant concerns from the contractors’ feedback and share the Google Sheet with him. He will review the submissions by end-of-day Wednesday.

Process Contributor Payments

On Thursday, once MMM Ops has approval has been received, process the payments to each contributor from the spreadsheet. 

Create a CSV file with columns for name and compensation. Add the each contributor’s name in the name column and the amount to be compensated next to it in the compensation column. Download the CSV and import it into the Utopia payment management tool.

Pull the each contributor’s wallet addresses from Utopia or use the previous week's payment template if the address hasn't changed. Payments are processed using Gitcoin's token, unless specified otherwise.

Initiate the transaction in Utopia, bundling all payments into one transaction. To process the transaction, a co-signer is needed from the multi-sig group (Laura Hellen, Laura, Matilda, Scott, Simona, Michael Green). Follow the MMMultisig Policy for best practices

Send the transaction and ensure it is successfully completed. Once successful, make sure to delete the CSV file that was stored locally on your computer.

Create End of Season Report

At the end of each season, an end-of-season report is created, which goes through all transactions and maps the spending to their key initiatives. 

Export a list of all transactions throughout the season from Utopia

Go contributor by contributor and adding up all their payments into one sum

This helps to see how much has been spent on each activity.

Review and Update Treasury Management Policy

At the end of every season, you will review the Treasury Management Policy and update it if needed. Updates are based what was learned throughout the season or suggestions made by DAO directives. 

Assist Internal Audit

As a relatively new process, an external auditor reviews all transactions and ensures that everything is mapped correctly. During this process, provide all transactions from the season, answer any questions the auditor may have, and provide any additional information that is needed. Details about this process will be expanded soon. 