I would like to address an issue regarding the funding of the project east.finance. In our proposal the voting period ended with a positive outcome. The transaction is planned to be broadcast on June 28th.
Unfortunately, another project, PepeTeam, made another proposal which was submitted after ours, bur ends earlier, effectively front running us. Their proposal will result in Power DAO’s treasury being depleted. Because of this, the transaction on our proposal will fail. Despite applying earlier and receiving a positive vote, east.finance will not be able to receive the funding it was approved for.
To resolve this situation, I propose that PowerDAO conducts another vote to replenish the treasury ahead of schedule (before the next quarter, which starts in August). Unfortunately, this is the only way to get the needed funds for our proposal in time. However, as a non-DAO member, I am unable to initiate such a proposal. I have started this discussion thread to bring attention to the issue.
In addition to addressing the immediate problem, I would also like to emphasize the importance of avoiding similar situations in the future and the need for PowerDAO to closely monitor its balance. It is crucial for a DAO to have a robust governance model to support the projects it approves. It is not a good look for PowerDAO to agree to a proposal that it cannot execute due to insufficient funds.
I encourage all members of the PowerDAO community to join this discussion and share their thoughts and suggestions on how to replenish the treasury and prevent such issues from occurring in the future. Let us work together to find a solution that benefits all parties involved and strengthens the governance and financial stability of PowerDAO.
Thank you for your attention, and I look forward to your contributions to this discussion.