SNAFU Treasury Management Proposals

Hi Everyone.

As our community is growing we can start to take control of SNAFU Treasury. It was founded by The Team after initial tokens sale and is currently collecting fees from Community Pool token/nft swaps. Treasury might also receive some funds from the fees of the Unifty Market from NFT sale/swap fees in the future.

All the funds are on: Snafu Treasury Address and the market value is around $20 000 in $SNAFU tokens.

Generic growth of the community is a long process and to accelerate it we would like to propose advertising SNAFU Collective in media like YouTube and Tweeter. It will be to the benefit of all current members as the value of NFT’s and $SNAFU token will increase with project expansion.

The next step will be to make secure the future of Treasury funds.


The 1st Proposal is to use 10-15% of current treasury value for Advertising proposes. We contacted already YouTube/Twitter influencers with inquiries of sponsored content.
First response is from BitRushCrypto with over 9k subscribers and willing to provide content for 150$ + 200$ in $SNAFU. This is only a fraction of the suggested budget and we will be able to follow up with more promotional content in near future. If you have any ideas of advertising the project let as know.

Will you agree with Advertising Budget from Treasury:
  • 10% treasury founds
  • 15% treasury founds
  • Don’t agree to use Treasury funds for advertising

0 voters


The 2nd proposal is to diversify the Treasury funds. This have to be discussed further as we have many options and it is not necessary to proceed before $SNAFU token will increase its value. As community will grow with implementing 1st proposal we need to make sure our Treasury will grow with time. With some part of Treasury in Stablecoins and other assets we can take benefits of staking/farming for additional income and be prepared for crypto currency volatility.

How much of Treasury should be converted to other assets?
  • 20%
  • 30%
  • 40%
  • Don’t agree with Treasury diversification

0 voters

Please leave you thoughts below as this is not final proposal which will be voted in snapshot.

I agree with both of those proposals but I would like to write down some facts, opinions, and questions for the other members.

Locked Liquidity
We sold 100k $SNAFU Tokens on Gnosis Auction and used the revenues as liquidity for the $SNAFU tokens on Honeyswap. Even if that wasn’t classified as DAO funds we would like it to become it. So we would transfer the LPs to the DAO address and the community will have a say on how to use that liquidity.

This could be handy when we’ll need $USDT or $DAI for something and not want to sell $SNAFU. We could in fact just remove the liquidity for the amount of $DAI that we need (upon approvals of course) without affecting the $SNAFU price.

We could even use this process for the diversification that Reem is proposing.

For Twitter ads we need to pay in cash, this means that using the $SNAFU budget would be a bit tricky. We need to find a way on how o pay for that kind of expense.

The core team is spending our own money to promote and build SNAFU. For example, we are paying the Twitter Ads, Farms, and other stuff. We also bought 10 NIF in order to create the Market on Unifty. I think it should be correct to somehow reimburse those expenses.

If we allocate 10% of the $SNAFU for Marketing I think it’s hard to use that money if we need to vote every time. Sometimes we need to take action fast. For example, it’s already a week that we are negotiating with the Youtuber (he wants 150$ now and 200$ in $SNAFU after the video). If we need to vote for that it could pass another week or more. So I propose to use Colony and deposit the marketing money there, create a Marketing Team and assign there a user with the power to use that money. Of course for any transaction, we’ll need to motivate it. We could even move there only a small percentage of the 10% but I think it will be better if we can use that money without asking permission from the community if it’s in the interest of the project.

If you have some other ideas on how to facilitate this process please tell us.

How I was saying it’s already a week that we are talking with youtube, I will send 150$ of my own to make him create the video, I hope we’ll find a solution before paying the other 200$ in $SNAFU and use the DAO funds for it. If we won’t find a solution until then I will proceed to pay the YouTuber with my own funds, but I hope that will not be necessary and that we also discuss the reimbursements.

Fees from Market
How Reem was saying at the moment we have the fees from the SWAP (5%) that are going into the DAO fund. We as a DAO can decide if we want to increase or lower that fee.

When we’ll create the SNAFU Market on Unifty we would like to transfer all the fees of that Market to the DAO as well.

I think now it’s too soon to convert $SNAFU into stablecoins for the treasury because the market is still to young. But I think it’s a good idea and it’s also what other DAOs are doing. We could for instance put that money in AGVE when it will be released.

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I am already going through this with two other communities and while I am an advocate of asset diversification and treasury formation this only makes sense after a community asset, expenditure, and revenues assessment is completed.

So what I would want to see is a full list of community assets as they stand now.

  • What are the assets
  • Where are they now.
  • What are the community revenue streams - What do these look like over time
  • What are the community expenditures - What doe these look like over time.
  • How much money are our artists earning? - What does this look like over time. (this is a key goal here)

I agree with @dan

This is particularly true for startups. I don’t know who are the team members driving the SNAFU bus here but so far they are doing fine. I am probably one if not THE largest SNAFU holder, and supporter and I am ok with Dan and his team making the decisions here. I honestly don’t have the time to drive anything in this DAO, much less other DAOs. Quite honestly the struggle of DAO-debate pretty much is a turn off. I grow tired of the endless discussion and the constant push back of a small number of individuals regarding appointing or electing individuals and giving them the authority and responsibility to manage key DAO functions. Maker is coming around to this with having to diversify the Maker Foundation into DAO Core Units - with multisigs - budgets - authorities and responsibilities. Honestly doing the work of a CU is easier than dealing with the politics.

I want to urge @dan to keep track of expenditures and hours put in so that the DAO can reimburse later for money and time put in now. I am generally going to trust the judgement of someone putting their own hard money out with no compensation, as well as doing free labor.

As to a marketing team - I honestly don’t see this community with enough funds to support that at this time. We probably couldn’t afford a marketing manager much less a marketing budget. $300 is 5000 SNAFU. I think on all the multisigs you want to do at least a 2 person authorize just so one person can’t just run with funds… Either that or have that person put up a security deposit which basically the community can claim if they run with funds. You want a marketing manager that has $1000 to use - well make them put up $500-1000 in deposit to do that job themselves. When the group gets 2 or more signatories then those security deposits can be split up or reduced.

I completely agree with the following statement.

Again the fact you are willing to put up your own cash and ask later for reimbursement to me speaks volumes. Work to put up, then debate and pass proposals often costs more in time than to just do it unilaterally. No-one talks about this. Why debate a $200-300 proposal when this will cost 20-40man hours? These kinds of things become wastes of people’s time when in reality this community needs to have 1-3 individuals with a vision, drive, and goals. They don’t need 10-20 people putting their fingers into every decision. We either trust that these people have a plan, and won’t rug pull, and that we can afford to lose our funds, or we don’t. If you need to micromanage your $100 in this community I think you should move on. I have thousands now and so far have liked what I have seen. Sure I’d like to have more information and maybe vote on larger decisions and have input. I don’t need that.

If there is one thing I would like to see it is @Reem putting together an asset, revenue and expenditure report for the DAO so we can have a larger picture before approaching the polls.

So right now given the fact that @dan is spending personal funds for a YouTube video, we have twitter ads running (paid for by? and how much?) and the fact that the SNAFU total assets maybe are no more than $20-50K which are already a little diversified and earning ‘some’ tiny bit of return I am saying ‘no’ to Advertising budget, and no to Treasury diversification.

I would support compensation for funds already spent.
I would support taking revenues and pretty much converting them to xDAI (cash) for any fixed cash expenditures.

I think the biggest things I want to see are already being worked on is creating a better

  1. SNAFU art listing market
  2. bringing the collectors into the SNAFU Art story (Art ownership trails, maybe a way for owners to add to this trail by adding comments to NFTs - require NFT contract development) to bring more value to particular NFTs and adding value to the ecosystem also encouraging listing and trading.
  3. Creating a compelling story for people to become part of this community that can lead to better advertising.

Lets add doing a community financial assessment to the list of things that should be done. I am a no on these proposals because I don’t have any clue what 10 or 50% means here.

All imo ofc.

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The core team is the following:

  • Me (founder, dev, social)
  • Francesco (co-founder, dev)
  • Mett (co-founder, artist director)
  • Jack (copy, secretary)
  • Axel (artist scout/manager)
  • Reem (community manager)


Collection #1

This is our financial situation.

For Collection #1 we made 5110 DAI (First sale: + Bundle sale:

That money was distributed like this: 40% to the artists, 20% to the core team, and 40% was used for the $SNAFU token liquidity.

With the 1000 remaining DAI (the 20% to the core team) we paid some expense (ENS for snapshot, domains, servers, 3 farms on unifty) and distributed the remaining to the core team for their work (that until that point took 2 months of our time).


We then did the gnosis auction and made 3003 DAI from it ( 100% went into the token liquidity.

So at the moment all artists were paid and satisfied, the core team got something back and the token was launched.
At the moment the money we are putting in is the core team money.

For Collection #2 we are doing the same thing: 40% to the artist, 20% to the core team, and 40% to the token liquidity.

From the next collection, we could change those variables and make that instead of 40% to the token liquidity that money could go to the DAO.

Our major expenses at the moment are Twitter ads: we spend from 15 to 20 dollars a week; farming pools on Unifty costs 50 DAI per farm, so if we want a new farm that’s the price; To create a Market on Unifty we need to stake 10 NIF (that we bought at around 230$).

We want to open Instagram, so we’ll need to use ads also there, so a budget of 10/20$ to boost the launch.

We’ll make an exhibition in August, we’ll pay the rent of the gallery, but we’ll pay that from our pockets I think.

Printing and shipping of the Artbooks of collection #2. It’s around 25/30$ each artbook. We’ll pay those with the 20% we’ll earn from the Collection #2 selling.

We want to integrate PoolTogether and make people win posters (well NFTs that one can redeem for a poster). This would also cost from 9$ to 15$.

Marketing allocation

I agree with you that saying “let’s allocate 10% to marketing” it’s a bit vague, but at the same time we need to allocate something. I would prefer us to allocate funds from the LP, so if we need to pay something we could just remove a bit of liquidity instead of selling the SNAFU tokens.
For sure we’ll need to give away $SNAFU in our next month’s contest, but that will be another vote.


I really think that voting on every little decision is too much. I think we should vote for important stuff non for any little decisions. For example, the CTO of a company can spend money (on software, hiring devs, etc.) and he has a budget that can use and doesn’t need to ask permission each time he needs to hire a dev. I think it should be the same here. If I have a budget to use for marketing I don’t want to have a vote on it each time I have to make a decision, it’s really time-consuming and stressful.

Maybe this is when one should put it on the vote. Let’s say someone else of SNAFU spends 200$ to do something for the Collective, I think he should make a proposal where he lists all of his expenses and then asks for reimbursement and the community can vote.

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Ok. Here is what I have:

Collection #1
5110 DAI 40% artists, 20% core, 40% SNAFU liquidity

2044 artists
1022 core
2044 to SNAFU-xDAI liquidity

1022 core breakdown
? ENS for snapshot
? domains
? servers
150 one-time cost for the 3 farms on unifty
? rest to team

Gnosis auction
3003 DAI that went to SNAFU-xDAI liquidity

Collection #2
40% artist, 20% core, 40% token liquidity

What is the remaining SNAFU held by the DAO (any?)
What is the current value of the SNAFU-xDAI LP held by the DAO?

What is the monthly on domains/servers if any?


Monthly -
60-80/month Twitter ads
domain/server ?

One Time -
50 DAI/farm one time cost Unifty Farming
230 DAI Unifty Market costs 10 NIF (held as a performing asset - allows community to operate)
125-150 DAI for Artbook printing/shipping

Unclear where to classify these.
10/20 Instagram weekly/monthly - one time?
9/15 PoolTogether weekly/monthly - one time?

Can we list total SNAFU DAO assets
NIF(10) value 230DAI

And then what are the Monthly running costs?
Twitter ads 60-80/month
Servers/Domain ?/month

I guess we need to see where collection #2 lands in terms of revenue.

Maybe what we do rather than keep putting in LP is make a budget like the following

40% artists
20% core team
10% to marketing and
30% to be used at the discretion of the core team for:

  • Additional Marketing promotions.
  • LP addition
  • Core Team payout
  • Set aside for unforseen expenses.
  • Refund for stuff like that YouTube video etc.
  • Allocated for a treasury.
  • Other?!

I like the idea of using %'s on revenue vs. on remaining assets because if you have
5000 DAI and you do 10%/month on assets your monthly budget starting with 5000 DAI could look like

1 500 DAI
2 450 DAI
3 400 DAI
4 350 DAI

If you do this as 10% of assets and your asset values decrease by 50% month over month you will then take a 50% hit in budgets. It is better to think about what the monthly budgets need to be in DAI and then try to set those that way.

40% sales go to artists
1000 DAI/month goes to core group
500 DAI/month goes to marketing
rest is accumulated as DAI to be used as working capital to pay the monthly expenses if needed and or stuck into a DAI/USDC LP, AGAVE, whatever to earn additional return until needed.
5% sales goes to buyback SNAFU to be put in treasury and/or paired in LP.

Realize this post is not a proposal but really examples of what info I am looking for when trying to get a grasp on funding and resources as well as a ‘suggestion’ of how one might look at this to provide people with a more predictable revenue. Though honestly 1000 DAI for 5-6 people seems like slave wages unless they are also paid in SNAFU but even then … It is the way of startups. :smiley:

So can we list total liquid assets on hand that could be used including SNAFU, DAI, and SNAFU-xDAI LP and whatever else?

I understand what you are doing @Eth_Man but I think that’s a bit too much for how the project is really set up.

To create and move forward this project is the SNAFU Collective, so the core team. We search artists, think about campaigns, think about Twitter, exhibitions, and so on. We take 20% of the sales, and that is our own budget.

SNAFU Collective IS NOT the SNAFU DAO. We are part of it.

In order to simplify this DAO Treasury process, we are doing this: all twitter (that actually stoped our ads a few days ago), domains, ens, market, and all other kinds of expenses are on our shoulders. We promote and organize this stuff and it’s ok like this.


Besides that we still have a lot of stuff we want to do, and we want to do it through the DAO and by using the DAO Funds.

We said that 40% will go to rebuy the $SNAFU and add liquidity. But we could do that only 20% goes to $SNAFU and the other 20% goes to the DAO to be used at the discretion of the core team.

What are the DAO expenses?

  • Contest prizes: we’ll have a contest next month and we’ll need to let people win some $SNAFU
  • Social Farming: receive $SNAFU by participating in Discord, Telegram, Forum, Twitter
  • Twitter Marketing: create retweet giveaways to incentivize the retweet of some of our important communications
  • Pool Together: let people win also $SNAFU tokens
  • Sponsors: if we do some partnership or if we need to pay for some sponsored content with $SNAFU

DAO has around 320k SNAFU ($ 21,146) and 24849 LP ($ 12,871).

So we would need 50k $SNAFU, around $ 3k, to be allocated for the above-described expenses and to be used at the discretion of the SNAFU Collective.

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