API3 DAO Operations Team Proposal
Operations cycle: #11
Period: 1 May 2023 – 31 July 2023 (3 months)
Amount: $ 51653.74
Destination: Gnosis Safe (Multi-sig Wallet)
Address: 0x00128492458fdB7f50ffE655153Bc91aE06e00F5
Signers:
- 0x439A2D8c08751aD4E8130c2585c7108FD3957f0C
- 0x79c244C70E288DC011f7978bc0866A98dbDF2ddB
- 0xE0D6480ae69e7C4928a3F45E6cf5651e52741EC0
⅔ signatures needed in order to make a transaction.
Scope:
The Business Operations Team serves to make sure internal systems and princesses run smoothly for the team etc as a whole, and our general responsibilities have been outlined in previous proposals, therefore more details can be found there in previous proposals in the ‘History’ part of the governance section of the DAO portal dashboard, if required for reference.
Items and requirements specific to this proposal are in the spreadsheet and are detailed below as line items and explained as text.
GDPR - completed:
The last cycle saw us successfully complete our annual GDPR audit successfully, with the usual high regulatory compliance score, and the costs etc for this are reflected in the accounting details below and will be a part of this cycle’s funding proposal.
New Ongoing Operations requirements - Contingency Fund:
A new strategic cost item that has been proven to be needed is a contingency fund for fulfilling the operations team’s historical function of backstopping other teams with human and financial resources in light of unforeseen events and restructuring etc.
As per our previously explained secondary function in backstopping other API3 teams re funds and resources as required, the need for this has become very clear.
We set this as an amount of $15000 to start with, based on the costs incurred re helping the integrations team to cover a shortfall etc as outlined in the previous proposal.
We will adjust this based on need going forward as and when things crop up that need this.
Details are included as a line item below.
New Ongoing Operations requirement - Extra 10% of funds:
A new strategic cost item that has been proven to be needed is some extra funding for each cycle for unforeseen expenses for the operations team.
These come up from time to time for all teams/areas in any project and it was determined that adding an additional 10% of any overall ops funding proposal on top would cover any possible issues in this area (also 10% is best practice). Remaining excess funds should return to the DAO treasury as per normal if not utilised…
Details are included as a line item below.
Team Grants & Accounting Breakdown:
Cycle #10 Deliverables Achieved:
- Ongoing operational support provided to other API3 teams.
- Maintained and managed existing processes - marking and addressing areas for improvement as needed.
- Treasury management support and research as required.
- GDPR annual review and reassessment - completed.
- Ongoing internal systems monitoring and support.
- OPs Contingency fund defined and included in OPS proposals going forward.
- OPs Buffer fund defined and included in OPS proposals going forward.