Distributed Autonomous Treasury
The sandman team is proud to present a concept that will shape the future of our platform: Sandman Finance DAO Treasury.
This Treasury with a DAO (Decentralized Autonomous Organization) format, can be thought of as a Decentralized Autonomous Treasury.
This concept is formed in practice by a set of systems developed by the Sandman Finance team to automate the collection and delivery of profits among the loyal members of our community in an autonomous way.
How does it work?
Technically it works as a set of Smart Contracts with the following functions:
The main function of the smart contract is to pay profits to the members of the community who have obtained ownership tokens (endless), and can deposit them in a special pool.
In order to pay these profits, those must be obtained from different sources: an amount of the farming TVL fees, AMM and extra services provided by the platform. It generate auto liquidity to the AMM, taking a fraction of the TVL, and transforming it to native currency.
Remove LP’s and convert them into USD to be distributed to owners.
Treasury distribution
From non Native TVL fee (4%):
75% goes devAddress.
25% to DAT.
From platform services:
50% goes to treasury
50% to DAT
From DAT pool:
75% is distributed to owner.
25% for AMM support
Security — OpenZeppeling Gnosis Safe
On top of this great set of contracts, our team has paired up with the OpenZeppeling team to provide the best security possible. Both external and internal.
For this treasury we are using OpenZeppeling tooling to assure that all securities measures are met.
All management of this treasury is done through Gnosis Safe multisig wallets.
This way, the community is safe too. The treasury doesn’t depend in one wallet/one person. But a team of signatures.
DAO all the way!
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