The watering hole community is currently governing over $250,000 USD right now using snapshot.org. The wallet is located here:
Governance takes place via the snapshot.org platform. Part of the initially proposed strategy is to diversify some community assets into cryptocurrencies. The community used governance on this proposal to diversify 66%/33% of funds into ETH/USDT:
This is an important HFP(Hippo Financial Proposal) to allow for flexibility in future endeavors. If the community’s risk appetite changes in the future they can submit another HFP to re-allocate assets. There will be proposals in the near future to close on real estate properties using these funds. This is assuming the community’s governance stays in line with the initiative. At this time several properties are already under contract.
An important concept to establish is the handling of potential proceeds from community activities. 100% of such proceeds will funnel back into the community wallet. Any dispersion of such proceeds outside of the community wallet will come as a result of governance exercised via snapshot HFP’s. In the future we are seeking a multi-signature wallet solution such as Gnosis-Safe to implement trust-less management of community funds.
Last modified 1yr ago