Distributed Autonomous Treasury
Last updated
Last updated
This Treasury with a DAO (Decentralized Autonomous Organization) format, can be thought of as a Decentralized Autonomous Treasury.
This concept is formed in practice by a set of systems developed by the Sandman Finance team and implemented by Banksy DAO team to automate the collection and delivery of profits among the loyal members of our community in an autonomous way.
Technically it works as a set of Smart Contracts with the following functions:
The main function of the smart contract is to pay profits to the members of the community who have obtained ownership tokens (Banksy), and can deposit them in a special pool.
In order to pay these profits, those must be obtained from different sources: an amount of the farming TVL fees.
Remove LP’s and convert them into USD to be distributed to owners.
From non-Native TVL fee (4%):
75% goes to the Project Growth Pool.
25% goes to the Treasury Distribution Contract
Then, 75% of this goes to the Ownership Pool
25% goes to the Autoliquidity Contract
For extra info, please check this medium article: https://banksyfarm.medium.com/banksy-dao-rewards-distribution-model-72931e41b943
$400,000
$4,000
$20
$133.33
$2,000,000
$20,000
$100
$333.33
$5,000,000
$50,000
$250
$833.33
$10,000,000
$100,000
$500.00
$1,666.67
On top of this great set of contracts, our team has paired up with the OpenZeppeling team to provide the best security possible. Both external and internal.
For this treasury we are using OpenZeppeling tooling to assure that all securities measures are met.
All management of this treasury is done through Gnosis Safe multisig wallets.
This way, the community is safe too. The treasury doesn’t depend in one wallet/one person. But a team of signatures.
DAO all the way!
