DAO Treasury

The Conic Treasury can be found here: 0xB27DC5f8286f063F11491c8f349053cB37718bea

Who controls the Conic Finance DAO Treasury?

The Conic Finance treasury is managed by a 3 out of 5 multisig controlled by the core team.

What are funds used for?

Currently the funds are used to cover development costs (e.g. audits, deployments, etc.) and to reward contributors via LlamaPay.

Appropriate use of the funds can be decided via DAO governance proposals and votes.

Why does the treasury hold more than the stated 6% of the total CNC supply?

The treasury received an initial allocation of 6% of the total CNC supply. Of this allocation, 5% (500,000 CNC) are on a 1 year linear vesting schedule. A further 1% was allocated fully vested to help seed the Curve CNC/ETH pool.

Out of the total CNC supply, 10% was allocated for an airdrop to vlCVX holders. Each eligible recipient had a period of 6 months to claim their share of the airdrop. When the 6 month claiming period expired on October 4th, 2022, a total of 639,567 CNC (6.39% of the total CNC supply) was claimed back to the treasury.

Do any fees from Omnipools or CNC emissions go to the treasury?

No. In terms of CNC, only the initial allocation of 6% and the unclaimed vlCVX airdrop goes to the treasury.