Unfortunately, it is a disappointing answer that did not seriously engage with the proposal we voted on, which only increases my concerns about accountability and professionalism at a time when the community expects clear, transparent reports of funds.
That first thing catch me in your respond to a $1.3M custody failure shows a lack of seriousness. Moving millions with zero safeguards is not a minor oversight — it reflects poorly on the Council’s professionalism and risk standards, and then saying ‘‘ point taken’’.
Right now, it gives the impression of casual transfers between friends rather than the actions of stewards managing a community treasury under strict standards. Even after this risk was raised, the funds have not been returned to the safer Council custody wallet. That lack of urgency to correct such a serious issue leaves me questioning the Council’s ability to manage the DAO’s resources responsibly.
You said the $1.3M was “Council-approved.” Please share the actual vote record (who voted yes/no).
Without this, it looks like: “Hey Council, send me $1M+ to my personal wallet” with no public record for that fund that, meanwhile, I saw transfers for tens of thousands leaving your wallet with no audit or public tracking, unlike the DAO transparency page we used to have. as i requested in DAO Discord ( here)
The Executive Arm proposal explicitly committed to “regular reporting to the DAO,” including financial disclosures and staff salaries. Quarterly PDFs don’t meet that. What we voted for was monthly expense breakdowns (balances, tx hashes, categories, vendors, aggregate salaries). That’s also consistent with how the DAO has always operated through its transparency page. as i mention in DAO Discord ( here)
Nowhere in your Town Hall diagram or in any proposal did it state that $1.3M would be transferred to a single individual’s wallet that is only yours, with no published monthly budget, salaries, or expense breakdowns. I’ve seen none of those details so far, and according to the proposal, this shouldn’t even be a debate. It was supposed to be clear and transparent from the start. Especially given that there are still only couple employees hired, no heavy workload, and no expenses that justify moving millions into a personal wallet, this looks extremely sketchy. Responsibility falls on both those who sent the funds carelessly and the individual who accepted them without reason.
This is not acceptable answer when Regenesis is managing a $7M+ budget and already moved $1.3M into one individual’s wallet. At this scale, reporting isn’t optional — it’s the first priority.
Funds are leaving with no audit trail or way for the DAO to verify expenses, which goes directly against the Executive Arm proposal commitments.
So I’ll ask directly: what is the due date for proper monthly financial reports (balances, tx hashes, categories, vendors, aggregate salaries)? that should be in days and not even weeks….
Without a clear timeline, it looks like DAO funds are being converted into private money in a closed book — duplicating what the Foundation already does, but without the transparency the DAO was promised.
That doesn’t make you the owner of the DAO treasury, nor does it give you the right to spend it without audits or detailed reporting. These are community funds, and every cent should be accounted for in public reports. The Executive Arm proposal itself committed to regular reporting and financial disclosures — because any sponsor or partner in the world would expect to see exactly where the money goes, and the DAO deserves nothing less.
After waiting 7 months for a “Treasury Management Strategy,” what we got isn’t a strategy at all. It’s one of the weakest I’ve seen , unclear, unprofessional, and missing any numbers. A real strategy should be based on facts and figures, not misdirections and half-truths (as I noted in Discord). Agus has neither the experience nor the background in treasury management, and it shows in this extremely weak proposal — so please don’t call it a strategy.
At the end i want to ask why $1.3M upfront in private wallet?
With only 6-7 hires so far, why transfer such a large lump sum instead of smaller rolling top-ups from the Council multisig every couple months? Did anyone ask for your burn rate or runway plan for each coming month? If you spend 50k/ month as expenses then $150k is enough for 3 months, and not $1.3M.
for now with no dashboard I would ask for :
-
Actual monthly spend (burn rate)
-
How many months of expenses you intend to keep.
-
expenses for all previous monthes
It’s disappointing to see commitments reduced to wordplay while millions sit in a private wallet. The DAO fund deserves transparency and accountability, not excuses. The $1.3M should be returned to the Council custody wallet immediately (as i asked in discord) , keeping, at most, two months of expenses in advance, not $1.3M, Failure to do so will be seen as rejecting a basic safeguard, will deepen concerns, and will completely erase any remaining trust I have in you — which, for me, is already lost with the Council. All responsibility for this situation will rest entirely on the Council and the individuals who signed the transaction to send you that money.