Proposal to Grant TWG Allowance for r3gen Consultancy
Since the start of 2023, Inverse Finance DAO has been pursuing avenues to raise additional capital to accelerate the repayment of DOLA bad debt currently in the system. In order to support this effort the TWG is requesting an additional allowance in order to contract r3gen consulting services.
r3gen’s expertise will assist Inverse Finance’s Treasury and Analytics working groups in further development of the in-house FP&A function to better communicate the story of Inverse’s finances, particularly to non-crypto-centric funds and VC’s.
Activities that r3gen may partake include
- FinOps review and uplift
- Guidance on web3 accounting best practices
- Training of Inverse Finance in-house bookkeeping resources
- Design and structure of FP&A function
- Provision of reporting template (i.e. investor report) and support with reporting best practices and template
- Advisory support with capital raise
The team at r3gen has a wide range of varied experience within web3, including work at Gitcoin and Aave. See more about the team on their website here. This relationship has been brokered by patb, having worked with the team at r3gen previously whilst at Index Coop.
r3gen will provide 0.5 FTE to Inverse Finance DAO in order to carry out the consulting services. This will cost a fee of $3200 USDC and $5450 INV per month. Paid using the 5 day moving average at time of payment, with payment made at the end of each month’s delivery (50% initial upfront payment for first month made to commence the start of the working relationship).
This agreement has no set term and is renewed on a monthly basis provided the TWG (on behalf of Inverse Finance) remain satisfied with the work being carried out.
In order to facilitate the payment, the TWG requests an allowance increase that facilitates 3 months of USDC fee and ~3 months of INV fee to r3gen. As the INV amount sent to r3gen is dependent on INV market price at the time, the exact amount cannot be accurately determined at this point.
3 month USDC fee: 9600 USDC
~3 month INV fee: 330 INV
Current TWG USDC Allowance: 5,000,000 USDC
Current TWG USDC Allowance: 4,960,000 USDC
Current TWG INV Allowance: 10,010
Requested allowance = current allowance + fee
Grant TWG allowance of 4,969,600 USDC
Grant TWG allowance of 10,340 INV