Honeypot Manager

Status: Proposal Author(s): CryptoChicca

Created: 17 November 2021

Discussions-to: Comment below please

Implementation (optional): Immediate. ‌

Buzzed Summary

Buzzed Bears are making moves and it is time to appoint a honeypot manager to oversee and manage the accounting for the honeypot funds

Do you want this proposal to proceed to BIP?
  • Yes
  • No

0 voters

Abstract ‌

This proposal is to seek and appoint a honeypot manager to oversee and manage the accounting for the honeypot funds.

Buzzed Bears have over $1M in the DAO, and are making moves to implement the investment strategy (BIP-003). In order to do this, transactions are required, and it is hard to follow how much is available, left to spend in each category, or earnt / built up in each category etc. There are also transaction fees for gas that need to be accounted for and reimbursed.

This person will need to have skills in crypto, finance, audit, record keeping and preferably defi, although this aspect can be trained. Ideally this position will not only record keep and account for transactions, profit and expenses, but they will also ideally manage the in/out of funds into sEth (for example) in the defi space, to facilitate that aspect of the investment strategy. This should be fairly minor once implemented, save for when funds are needed to be pulled out. Ideally long term, this person may look to stake and facilitate loans for Buzzed Bears to better manage use of funds and limit Eth transaction / gas fees.

This is an important role to support everyone and should be rewarded as such. Remuneration should be paid via the rewards process.

Any interested bears should put their hands up and express their interest.

Please include any suggestions / comments / recommendations for consideration to be included in this proposal below.

Motivation ‌

The more progress Buzzed Bears make, means the more transactions Buzzed Bears make. Having regard to the initial split of funds, it was easy to determine what funds fell into what categories. As we are now taking profits on certain ventures, and flipping, and investing in pools, it will mean we need to account for allocations and need someone to manage this so we know how much we have in each of the investment areas, and whether there are new funds available to allocate to other ventures.

Also, without a honeypot manager, bears are exposed to risk in not knowing exactly what is available to be spent, and we want to ensure we protect honeypot funds.

Specification ‌ Overview ‌

  1. Appoint a honeypot manager
  2. This person will need to have skills in crypto, finance, audit, record keeping and preferably defi, although this aspect can be trained.

Rationale ‌

The reasons for this proposal are:

  1. Promoting good governance for the Buzzed Bear Hideout brand

  2. Providing risk management to Buzzed Bear holders

  3. Helping committee funds management revenue for Buzzed Bears

  4. Assisting in growth of the defi section of the investment proposal.

Technical Specification ‌

This person should have most of the skills to facilitate the outcomes required. Defi training may be able to be provided by some bear members if this aspect requires learning.

Test Cases ‌

All good businesses have a treasury and someone to manage it, so lets get moving.

Copyright ‌

Copyright and related rights waived via CC0.

EDIT - NB - Moving this proposal to BIP. Should it pass, we will advertise and select someone. This selection will then return to hideout then BIP, where the person and the remuneration will be announced and can be voted on by bears for final approval. Any initial feedback can be made during the hideout forum process to help refine if we need to go back to the candidate.

4 Likes

I would be happy to assist with overseeing honeypot of no one else more qualified steps forward. I think it’s really important to have clarity in how the funds are moving about to ensure we stay aligned with our voted on allocations and vision to build.

Summary of applicable skills: I have been involved in crypto community for about 10 years now and am familiar with most of the major defi protocols. I’ve spent oodles of time working with speadsheets and presenting analytics in team settings and currently operate a small business. My sister has a masters in accounting and I was doing paid GAAP bookkeeping work at 16.

I am currently a BBH marketing committee member and have been lurking the discord/voting since bip-001. As most of my current work revolves around photo/video I have a a fairly flexible schedule but sometimes work od hours but usually have a lot of free time in the winter so could commit a decent amount of time to organizing this in the near term.

2 Likes

Awesome my bear, love your enthusiasm!!! So grateful for the reach out, and looking forward to chatting more :slight_smile: