GIP-53: Operational Efficiency Budget

Authors: @RP2743

Summary: The Goldfinch community aims to improve operational efficiency and to increase the speed of decision making process by reducing the level of engagement from the Governance Council into daily activities

Motivation : GIP-51, GIP-48, GIP-37, GIP-17, GIP-08 for Community Management, GIP-36 for Community Driven Initiatives’ Budget, GIP-30 for Bug Bounty Administration, GIP-20 for Financial Reporting, GIP-47 for Discord Security Audit were introduced to build up a healthy community around Goldfinch Protocol. Every proposal had to undergo a thorough Governance Procedure before being approved. However, Goldfinch Community Management had to wait for an approval from the Governance Council every time to make necessary transactions according to the proposals. To avoid unnecessary bureaucracy and to facilitate the speed of transactions Goldfinch Community Management has come up with the current proposal.

Specification & Requirements : we request a budget of $50,000 USDC to be transferred from Goldfinch treasury to community management multisig. We propose the following members in the 4 multisig – @RP2743 , @parallacs , @poy , @ted - a combination of Goldfinch Community Managers and Warbler Labs employees. This budget would be used for 3 main activities:

  1. To fund bug bounties
  2. To cover administration fees
  3. To pay off operational costs to run a healthy protocol (this includes compensation to community members who were affected by the recent Twitter compromise)

Each of these activities have the goal of building up sustainable community around the Goldfinch Protocol

Benefits : Community Management will become faster in reaction to approved proposals and it won’t have to ping the Governance Council to make a transaction to multisig every time a new proposal related to operations payments has been approved.

Downside : We see no downside in improving Goldfinch operational efficiency

Voting :

“Yes” means allocate $50,000 USDC from the Treasury to community management multisig for operational efficiency purposes

“No” means do nothing

1 Like

Every company should have this type of “insurance” and incentive. Good job!

1 Like

Yes, I agree with this proposal.

I think micro-managing every decision is actually very counter-productive and interferes with the ability of running a smooth operation, delegating this budget to the team makes sense and should be done if we want to see the success of Goldfinch in the long-run.

This should help save time and make it easier to allocate funds for important initiatives. “Yes”

I believe that it is necessary to have a small budget for current operational costs. This should indeed improve management flexibility and capital mobility in appropriate situations.

On the other hand, relevant situations have not yet arisen so often. Community management costs, for example, were approved every 3 months. In my opinion, preparing and voting on one proposal once every 3 months or even once a month does not significantly reduce the overall speed of decision-making.

Ready to vote “YES”.

Council has approved the proposal