by 0x3f6b1d01b6823ab235fc343069b62b6472774cd1 (MetaRyuk)
Background
Since the establishment of Regenesis Labs, several members of the DAO community have raised concerns regarding the use of allocated funds, leading to various questions and requests for greater transparency.
In response, the DAO Council has agreed to commission an independent audit to be conducted by a reputable and long-standing community member with credible experience and qualifications in auditing and financial review.
Proposed Auditor: Maryana
Bio: Maryana is an accounting professional with eight years of experience that spans across auditing at the Big Four, internal auditing, and not-for-profit financial reporting. She obtained her MBA in Accounting and is an active CPA candidate. Her auditing experience includes internal control assessments across healthcare, not-for-profit, manufacturing, and technology industries, allowing her to develop a strong understanding of SOX compliance and operational effectiveness. Her experience in financial reporting and month-end close processes gives her a strong understanding of revenue recognition, and budget to actual variance analysis.
Maryana has been a community member since December 2021, and active in the DAO since early 2022. Maryana also served on the Revocations Committee and supported accountability initiatives to strengthen DAO oversight and community trust. Maryana has been engaged in the financial planning discussions, and helped lead the discussions over treasury management at the Regenesis meet-up in Lisbon. She has recently been focused on finishing her CPA licensure.
Wallet Address: 0x9937E3e274be96a624d7Cd00F384EB71c741Dd1b (maryana.eth)
Proposal for 2025–2026 Audit Review Service
Annual Fee: USD 10,000
This covers approximately 16 hours per quarter (USD 2,500/quarter).
Scope of Work
The audit will include the following areas of review:
- Legal & Structural Review: Verification of Regenesis Labs’ legal formation, fund disbursement process, and organizational setup.
- Quarterly Financial Review: Examination of expenses including vendor payments, bills, contractor arrangements, equipment purchases, and wallet management (Operational Wallet / Regenesis Wallet).
- Transaction Testing & Controls: Walkthrough of payment approvals and processes, assessment of control mechanisms, and limited transaction testing.
- Forward-Looking Review: Analysis of future grant expenditures, review of planned and actual cost center spending, including assessment of the Regenesis Labs operation budget’s alignment with actual performance, or other ad-hoc reviews requested by the Council, within the auditor’s available hours within the quarter.
Audit Report Deliverables
The final deliverable will include:
- Front Page
- Scope & Executive Summary
- Budget-to-Actual Variance Tracking
- Detailed Audit Findings
- Recommendations for Improvement
- Controls Testing & Results
- Conclusion
The audit report will be delivered to the DAO Council for review. Regenesis Labs will use the findings to identify areas for improvement and strengthen internal governance and financial transparency.
Transparency & Publication Approach
To balance transparency with responsible information handling, the audit will follow a two-tier disclosure model:
- Full Audit Report (Confidential): Accessible only to the DAO Council and Regenesis Labs’ core team. This report may contain sensitive details such as vendor contracts, compensation information, and wallet transaction data.
- Public Summary Report (Transparent): A condensed version containing key findings, budget-to-actual variances, control observations, and recommendations.
This approach ensures community accountability while protecting private or sensitive operational data.
The Public Summary Report will be published on the Decentraland Forum.
Implementation Note
To avoid delays caused by the proposal process, the DAO Council has authorized Maryana to begin the initial audit phase immediately in the interest of time.
Should the poll or proposal fail to pass, the Council Members have agreed to personally compensate Maryana for the time and effort spent on the initial phase (1st quarter) of the audit.
- For
- Against
- Invalid question/options