After several long weekend meetings, we are proud to announce our official $PAC treasury team! They have done a great job organizing and managing departmental expenses.
The mission of this team is to support and control ongoing expenses used to grow and support the $PAC core operational team. The team will also be actively involved in our HDAO (Hybrid DAO) proposal oversight and start to build a DAO insurance program. Managing our exchange relationships and our key strategic partnerships in the space will be another one of the team’s core functions. The team will be reporting monthly to the community, and weekly to the operations team.
Here is their introductory report:
Dear $PAC community,
We, the newly formed and recently launched Treasury department would like to introduce ourselves and would like to catch you up on what we have been doing. We are a team of three, made up of people most of you will be familiar with, and our discord names are: Steve B.#1319, !amichaelandrew#9351, and Geo#7777. We have all been with $PAC since before the redemption, and we share the same enthusiasm for this project and the desire to see it succeed beyond our expectations. Between the three of us, we will provide oversight for the financial movement and expenditures that happen within this project, help our community provide valuable projects for the benefit of the coin, and start building an infrastructure, which will take us to the next level in the cryptosphere.
To begin with, we would like to inform you all that we have paid out our first month’s budget for the month of October. We will be issuing our first report of budget expenditures shortly, which will show the initial structure that we are using. Our eventual goal is to have a self-sustaining and consistent financial plan, which will both benefit the community and provide growth opportunities for the $PAC team. As previously mentioned as well, one of our main purposes is to provide independent oversight of the fund’s movement and use, to facilitate appropriate use of these resources. We all want to see $PAC go up in value, and we hope that our efforts will help us all achieve this goal.
Another recent benefit of our activity is something that many of you may not be aware of. As some of you are certainly aware of, the superblock responsible for paying out the successful proposals for October did not pay out those proposals. We were essentially able to act as “insurance” and pay out those proposals from the Treasury funds. We intend to implement other similar services in the future, and more details will come as we develop our role within $PAC.
We are very excited about being able to help bring a more professional environment to $PAC. Especially being able to finally reward the mostly volunteer staff, who has worked very hard to get us to this point. We believe that this will truly be a turning point for $PAC and we will all do our best to help move the project forward. Please be on the lookout for more to come from us, we have a few plans.