SIP | Consolidation of treasury management activities under the Foundation
Author: Jonathan Perkins
Status: Draft
Type: Treasury Management
Implementer: RareDAO Foundation
Sponsors: TBD
Created Date: March 17, 2026
Summary
This proposal seeks to unify the DAO’s treasury resources under the RareDAO Foundation’s management framework. By migrating the remaining balances from the DAO treasury and concluding legacy programs (the Network Engagement Fund and Grants Program), the DAO will simplify its administrative structure, reduce operational overhead, and ensure all assets are managed under a single, cohesive strategy.
Background & Motivation
As SuperRare continues to lead the dedicated cryptoart market, our governance and financial structures must evolve to match our operational maturity. Since 2021, the DAO has successfully incubated several initiatives through various multisig wallets. However, maintaining a fragmented treasury across multiple legacy earmarks has created unnecessary administrative complexity.
In December 2024, SIP-25 established a successful precedent by endowing the Foundation with resources that have since been professionally managed to extend the project’s runway. This proposal aims to continue that transition. By consolidating the legacy program funds, we can move away from a fragmented wallet system toward a unified treasury model.
This proposal also serves to clarify the evolving roles within our ecosystem. The DAO’s primary strength and core purpose have always been the security and integrity of the SuperRare smart contracts. By delegating treasury management to the Foundation, we allow the DAO Council to focus exclusively on its most vital function: protocol governance, security audits, and technical upgrades. This ensures that while our financial resources are managed with professional agility, the ‘keys to the kingdom’ remain under the decentralized oversight of the Council.
Two legacy programs also warrant attention:
- Network Engagement Fund (SIP-15): Approved in July 2023, this program allocated approximately 45,000,000 $RARE to fund user engagement rewards. The program served its purpose, distributing roughly 35,000,000 $RARE through incentive campaigns. Approximately 10,000,000 $RARE remains in the program multisig.
- Grants Program (SIP-7): Approved in 2022, this program allocated 5,000,000 $RARE for developer bounties and ecosystem grants. The program funded its core objectives, including the replacement of the Token Race product. Approximately 676,000 $RARE and $14,300 USDC remain in the program multisig.
Both programs delivered value to the network during a period of active ecosystem growth. Their remaining balances now represent idle capital that would be better deployed toward maximizing the project’s staying power and long-term benefit to the community.
Specification
1 Administrative Migration of Treasury Assets
The DAO Council will facilitate the transfer of the current DAO treasury balances to the Foundation’s treasury management system. This ensures that all $RARE and diversified assets are accounted for under one professional management umbrella. At time of writing, the DAO treasury holds:
| Asset | Balance |
|---|---|
| $RARE | 175,201,413 |
| ETH | 303.17 |
| WETH | 35.19 |
| USDC | $42,651 |
| BOTTO | 1,000,000 |
| SYND | 200,000 |
| Other | Miscellaneous dust tokens |
2 Modernizing Legacy Program Funds
This proposal also formally concludes the earmarks established under SIP-15 (Network Engagement Fund) and SIP-7 (Grants Program). Both programs are already managed by the Foundation. Upon passage, the spending restrictions from the original SIPs are lifted and the remaining balances are incorporated into the Foundation’s general treasury management:
- Network Engagement Fund (0xB6bE324BB8d75a8275f0f21fEf66C9b4ad2304AF): approximately 10,043,942 $RARE
- Grants Program (0x3957938B85872c775b44868B539f0Ff7d70a7411): approximately 676,121 $RARE and $14,334 USDC
Benefits
- Capital preservation: Consolidating assets allows for more sophisticated treasury management and diversification strategies, building on the success of the Foundation’s work with Avantgarde.
- Strategic Specialization: This structure allows for a clear separation of concerns. The Foundation focuses on resource growth and ecosystem deployment, while the DAO Council remains the dedicated guardian of the protocol’s security and decentralization.
- Operational agility: A single managed treasury allows the Foundation to respond to market conditions, partnership opportunities, and operational needs without the overhead of coordinating across multiple multisigs with legacy mandates.
- Reduced complexity: Consolidating assets and lifting legacy earmarks simplifies treasury operations. The Council retains its governance role without the administrative burden of managing wallets with outdated mandates.
Drawbacks
- Focused Governance: While financial administration is centralized within the Foundation for efficiency, protocol governance remains unchanged. The DAO Council retains full authority over smart contract upgrades and core protocol parameters, ensuring the network’s security remains decentralized.
- Funding of Grants and Other Initiatives: Future funding requests will be channeled through the Foundation’s established budgetary process, ensuring a more standardized approach to resource allocation.
Implementation
Following a successful vote, the RareDAO Foundation and DAO Council will execute the transfer of assets and retire the legacy program earmarks. All transfers will be executed in accordance with the Bylaws and standard Council multi-sig procedures.