[ CIP 206 ] Treasury reform package

Proposals (CIPs)
1

Hi All, Today I am here with my ideas to contribute to the Treasury with various incomes.
:point_down:
How does CityDao treasury generate income now?

  • By Staking Ethereum
  • Nft sales
  • Ethereum buying and selling at certain periods

My proposal covers items one and three.
Before moving on to my opinion, as someone who has been actively trading in financial markets since 2013, one of the most important points for investors of companies or economic platforms is the health of their financial situation. This is the most important point not only in terms of investment but also for the future of companies and platforms.

To summarize the table of Citydao treasury since its establishment, based on the amount of eth in the bull period, the treasury capital was close to $ 8.000.000$ , and with the effect of mistakes and choices made at the wrong time, it is now at $ 2,500,000$, of which 1.000.000$ is cash.
The treasury’s income has not exceeded $50,000 for more than a year, the capital is at a constantly decreasing point and it does not have an income stream with a rising curve.
At this point, it seems that the Citydao treasury needs reform. For this reason, I would like to move on to my income-generating suggestions.
First of all, the amount of dollars held by the treasury must be reduced.
In a certain period of time, $400,000 will be used to purchase Ethereum.
The $1 million cash level for this will drop to $600,000 after the offer is accepted. However, the expectation of an increase in the dollar level along with the amount of Ethereum will be greater.
For Purchase and Sale, Tarkan submits a notice of intent to the Citydao treasury and council.
Procedures are initiated after obtaining the opinions of at least 4 council members. (Buying and Selling)

Trade
Purchase period

Purchases will be made on the first trading days from Q1 to Q4 (four equally). In case of sudden price increases in the market, the right to use the opportunity can be used to buy on the first trading day of the quarter.
Same day purchase for Q1 will be made once quote is approved.
Every Ethereum purchased will be staked on the lido platform on the same day. In each quarter after staking, the amount earned for council expenses and research and development is transferred to the wallet (new wallet or main wallet).
Since price change and interest rates vary, an exact figure cannot be specified, but the estimated staking income is expected to be between 13-17 Ethereum on an annual basis.

*Sales process: After the entire capital has passed, the first sale cannot be made below %50 of the purchase average.
The first sale amount cannot exceed 10%, and the last sale amount will be determined as the ceiling price based on the 500% level. Since the price cost is not yet clear, a total value of 1,400,000 USD or more is expected at this point, excluding Ethereum staking income.

Benefits to be gained with this CIP(Reform)
Financial Revival: Activation of the treasury, which has not had active income for more than a year
Alleviating the burden on the main wallet: Capital protection is ensured by creating income diversification of wallet expenses.
Aiming for a more decentralized citydao as the dependence on the dollar increases both inflation and political decisions.
Developing the citydao and increasing its visibility with more R&D and cultural events with the revenues generated. (competition, participation in meetings)
Long-Term Sustainability: Revenue growth and diversification can support the long-term sustainability of the treasury and fund CityDao’s future projects.
2024 will be the year of a stronger return to Ethereum for Citydao.
2024 Income - Expense balance will perform very well compared to the previous year.
The first sale decision to be at least 50% of the average price of the ethereum amount and to sell only 10% of the total amount were determined as difficult and difficult to manipulate targets for the C.I.P author.
Additional note: If the offer is accepted, the creation of a new multisig wallet will be healthier for the main wallet, as there will be more communication with new contracts. The discretion is left to the citydao council, the decision for the new wallet will belong to them.

The intellectual rights for this work will belong to Tarkan. And the commission fee will be 8% of all income earned.

UPDATE : The commission rate of 8% has been cancelled. The new request is $2,500 for 4 months and will be automatically extended if C.I.P benefits are seen to be provided. A 5% success reward will be given when a total capital of 1.5 million dollars is reached. Fees were determined by reviewing previous successful C.I.Ps.

23 Likes
2

I was about to like this but 8% ‘IP’ fee for the idea to stake is rediculous when this was made previously by someone else and were talking about a non active management. We could use a licensed, professional, high net worth manager for way, way less.

I can see maybe 3000-5000 (max max) fee to help Shepard this through the process and oversight to ensure it’s done according to the CIP.

Other then that rediculousness, I have a serious question about the withdrawal process. Can you explain it in more detail. If a CIP passed that required funds, a purchase of a house for example, how would that work if it’s over the ‘max’
Would that be an invalid CIP?

2 Likes
3

What “intellectual rights” comes with a suggestion to buy and stake ETH? I’m confused. This is a proposal for CityDAO to buy ETH with USDC and then stake it on Lido. And IF we sell for a profit, you want 8% of that profit. How about this - I recommend that YOU buy ETH and stake it, and if the price goes up, you pay me 8% of all the money you earn. What if the ETH price doesn’t go up? Will you guarantee to pay CityDAO for the money it might lose?

There is nothing in this CIP that says that if we stake ETH, we’ll have more visibility or that the profits you think are guaranteed will be used for R&D (on what?) or “cultural events”.

I support a CIP for us to stake ETH using either Lido or Rocketpool. I was happy for Reeves to run the node. But I can’t support a proposal for you to make 8% of profits based on a suggestion to buy and stake ETH.

1 Like
4

I didn’t like that the amount of dollars in our treasury was so high. It seems that Tarkan only targeted the dollar instead of the current amount of ethereum. I congratulate Tarkan for this courageous step, as the benefits section in the last section was considered among other activities designed for the Citydao treasury. and I support the idea.

3 Likes
5

This is literally almost the same CIP that Reeves submitted, which already had 20 likes and went to Snapshot. I would hardly call copying the last CIP a “courageous step”. Reeves asked for abut $3K - $4K per year. Reeves was in the CityDAO dev guild for years and had a proven record of ability. Tarkan is offering to do the same thing, for more money, with no demonstration of his background.

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6

In order to buy a house, there must first be an inflow of money into the treasury. Let’s earn first, then we can buy a house and a car. :))

1 Like
10

Citydao payed its penalty for distrusting Ethereum when it traded $1 million for 1000 Ethereum. This can be updated for citydao as long as the offer is passed. converted into shares only based on the ethereum stake amount. Or the council may decide, my only goal is to urgently turn the revenue data of the treasury into positive.

İmamoğlu understood the issue correctly. I think you don’t understand. reeves offered to stake with existing ethereums. I want the amount to be staked on the Ethereum that increases as the dollar amount decreases. It’s not just about staking. I also offer the process of disposing of ethereums from the best point in order to make other investments within a certain plan. and the plans are clear according to him. The only thing in common with Reeves is why should the purchased Ethereums remain empty? Of course, interest income must be earned. You cannot say the same based on this point.

1 Like
11

If I understand, you suggest that CityDAO should buy and stake ETH. I agree with this. I voted for Reeves’ proposal to do this, too. The difference is Reeves said he’d take the same payment that Lido charges and ZERO payment on any profits made if ETH goes up. Your CIP suggests that if ETH goes up and CityDAO sells ETH, you personally would get 8% of that profit AND 8% of the staking profits. Maybe I’m not understanding this correctly.

2 Likes
12

reeves made a staking offer for 650 ethereum. My offer is valid for newly purchased Ethereum. There is a strategic difference between my offer and his offer. Reeves did not say let’s buy Ethereum with dollars. Since he doesn’t say this, he can’t ask for a share of the profits. Do you think we don’t know who gets paid what salaries for which positions at Citydao? ( ın past ) 
I just want a new page to open. I have constantly written articles about the Ethereum price. If you have time, go back and see what the treasure is missing. I just don’t want the citydao treasure to miss any more opportunities. The last part of my quote will be updated if necessary. As long as the treasury power increases.

1 Like
13

you suggest that CityDAO should buy and stake ETH

Ethereum staking is a topic that has the potential to provide regular cash flow to investors. In the near future, the expansion of Ethereum staking into the tradfi world through ETFs may enable access to a wider audience of investors in crypto assets. However, in this process, transactions revolving around staking, such as LSD and restaking, can cause significant movements in the market and attract the attention of investors.

2 Likes
14

I compared what Reeves and Tarkan wrote to understand what I read clearly. Tarkan has drawn a road map on the dollar amount. It is a new step and focused on the future. The most important point here is that bullish sentiments try to get the best from the market and want to prevent the treasury from returning to the same point again. On the other hand, Reeves only wants to stake with Ethereum. There are even differences between Tarkan’s goals and benefits and Reeves’ benefits.

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15

Hi Tarken, I did say let’s convert USD to ETH and stake it here: [DRAFT] CIP-205 Treasury Management - #2 by Da3vid

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16

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There is an idea to buy with USDC only. but only the title was given. technical details not specified. This is like me writing on the financial channel 1 year ago that we need to buy $400,000 worth of Ethereum urgently. Also don’t forget. At the point where I saw an opportunity in this visual, citydao treasury officials sold thousands of ethereum.

1 Like
17

I have now asked three times for you to supply any evidence or proof of your background with staking ETH. Reeves has a proven background in dev and in staking ETH. Instead of answering the question, you show us charts with trend lines? That is not proof of anything other than that you are a trader. This is treasury management, NOT TRADING. Again, for the 4th time, please provide proof that you have the background and experience in treasury management.

1 Like
18

My friend, since I do not have the authority, as stated on the C.I.P, the 4 members of the council will be informed about the appropriate point and the appropriate steps for trade will be taken by the authorized persons in the treasury. Moreover, I personally do have experience in staking, such as staking on cosmos, tia, starknet, zklend, eigenlayer and swell, stg , jto etc I even research which system is protected by which security and make my choice. For example, we rely on chainlink VRF in 151st CIP. The Swell platform I mentioned above has upgraded itself to protection with Chainlink Ccip. Lido, on the other hand, has not implemented it yet, although an opinion was expressed for CCIP in the research department. Im more than the Tarkan you dream of. If the Treasury signatories cannot carry out these transactions due to their inexperience, they must be waived.

2 Likes
19

To me, this answer is unclear. I also have experience staking. But this is a CIP about ETH only. This is not about cosmos or tia, or zklend or swell or other new and different tech. This is frustrating, so i think I’ll stop asking for you to explain your experience and background.

1 Like
20

Reform packages are another name for building the future and meeting the future in a stronger way. some societies have sown the seeds of steps to consolidate their wealth through reforms. but not all societies are rich. the common characteristics of societies that are not rich are usually their anti-democratic stance and their closedness to reform. citydao has a council. but the snapshot authority belonged to david. according to LYONS, a former manager and someone who knows the rules well, there were no justifiable reasons for taking an anti-democratic stance on authority. In discussions with Chinese and Turkish participants on the Snapshot issue, the mood was positive and they indicated that they would support it. However, some VERY VALUABLE members, far from having a good game plan, blocked this for unjustified reasons. as a result, the reform package did not materialise and Citydao entered the bull run with an inflationary currency and a depreciating value against ethereum. it was our last chance to prepare well, but it was not achieved. It is not by the COMMUNITY that it was not achieved. It was blocked by EXECUTIVE authorisation. and all citydao citizens suffered.

When the day comes, it will not be the law of the superiors. You will know the flavour of the rule of law.
just patience.

Adsız

21

While I do not agree with this CIP, and think that the $30k per year fee and success reward is ridiculous
 why was this not put up for a vote? My understanding is that if something receives 20 likes, it is put up for a snapshot vote.

2 Likes