Proposal to Grant TWG Allowance for r3gen Consultancy

Forum post: https://forum.inverse.finance/t/proposal-to-grant-twg-allowance-for-r3gen-consultancy/193

Background

Since the start of 2023, Inverse Finance DAO has been pursuing avenues to raise additional capital to accelerate the repayment of DOLA bad debt currently in the system. In order to support this effort the TWG is requesting an additional allowance in order to contract r3gen consulting services.

Overview

r3gen’s expertise will assist Inverse Finance’s Treasury and Analytics working groups in further development of the in-house FP&A function to better communicate the story of Inverse’s finances, particularly to non-crypto-centric funds and VC’s.

Activities that r3gen may partake include

• FinOps review and uplift
• Guidance on web3 accounting best practices
• Training of Inverse Finance in-house bookkeeping resources
• Design and structure of FP&A function
• Provision of reporting template (i.e. investor report) and support with reporting best practices and template
• Advisory support with capital raise

The team at r3gen has a wide range of varied experience within web3, including work at Gitcoin and Aave. See more about the team on their website here. This relationship has been brokered by patb, having worked with the team at r3gen previously whilst at Index Coop.

Finances

r3gen will provide 0.5 FTE to Inverse Finance DAO in order to carry out the consulting services. This will cost a fee of $3200 USDC and $5450 INV per month. Paid using the 5 day moving average at time of payment, with payment made at the end of each month’s delivery (50% initial upfront payment for first month made to commence the start of the working relationship).

This agreement has no set term and is renewed on a monthly basis provided the TWG (on behalf of Inverse Finance) remain satisfied with the work being carried out.

In order to facilitate the payment, the TWG requests an allowance increase that facilitates 3 months of USDC fee and ~3 months of INV fee to r3gen. As the INV amount sent to r3gen is dependent on INV market price at the time, the exact amount cannot be accurately determined at this point.

Given this:

3 month USDC fee: 9600 USDC

~3 month INV fee: 330 INV

Current TWG USDC Allowance: 4,960,000 USDC

Current TWG INV Allowance: 10,010

Requested allowance = current allowance + fee

On-Chain Actions:

Grant TWG allowance of 4,969,600 USDC

Grant TWG allowance of 10,340 INV