Web3-native businesses like DAOs are launching and growing at an unprecedented pace. In 2021, DeepDAO's most popular DAO analysis website reported that DAO assets under management increased 40-fold, from $400 million in January to more than $16 billion in December. DAO members also grew from 13,000 to nearly 1.6 million by the end of the year. More and more organizations are choosing decentralized governance over token-based bureaucracies and vaults.
While Web3 is in full swing, most businesses have poor processes and infrastructure for handling finances. Tasks like payroll, tax reporting, and transaction tracking are often handled through uncomfortable solutions like Excel spreadsheets, which are extremely difficult as businesses or organizations like DAOs grow in size and complexity. Error prone and unsustainable.
Safe Treasury is committed to building a Web3 corporate banking and financial management platform, providing free, non-custodial, and secure services. Users can comprehensively manage all assets on the chain, while obtaining real-time financial status data and reports. At the same time, Robinhoot.org, a more transparent and efficient financial disclosure solution, is provided to meet the needs of DAO asset transparency and community governance.
The problem Safe Treasury solves
Most of the assets of the project party will be scattered in different wallets, different chains and DeFi protocols. Safe Treasury provides an asset aggregation platform
The transactions on the chain are full of various spam information, and the readability is poor. Safe Treasury captures the transactions on the chain, extracts valid information and formats it, and provides a clear financial statement for the project party
Generate real-time financial statements for the project party based on the transaction data on the chain and the off-chain financial information added by the project
Explore the operational needs of the project to meet the different payment scenarios of the project party
Safe Treasury will continue to invest in Treasury management, asset security and financial compliance.
Safe Treasury business model
- Based on the actual scenario of the project party, develop in-depth functions and launch premium features, such as the export of historical data, automation label, invoice, and compliance report generation.
- Provide relevant financial derivative services for the project, such as providing crypto-to-fiat bank account services for project parties, wealth management services for DeFi derivatives, and charge handling fees.
Safe Treasury core technology
At the research and development level, Safe Treasury’s core process is the analysis of various transaction data on the chain, presenting a clear financial revenue and expenditure details for the project party, and at the same time opening up the data on the chain and the off-chain information of the project party to establish an all-round transaction database.
That's right, it now appears that Safe Treasury may not be enough for Web3.
But what does it matter?
1. First create a qualified and clear "book"
The underlying needs of any organization for fund management tools are very consistent: real data, traceable history, reasonable control, and scientific planning.
At this point, Web2's financial experience may help Web3 organizations grow healthier. How to integrate the financial information of multiple wallets and multiple vertical chains on one platform, and how to classify these financial information scientifically? The business of Safe Treasury can be summed up very clearly—grabbing and collecting financial-related information—filtering and sorting to make it clear—reflecting a complete financial situation. It doesn't matter whether a cat is black or white, as long as it catches mice, it is a good cat.
2. Extend and customize services for the new organization DAO of Web3
According to the information on the official website, Safe Treasury will focus on the management of DAO members and the contributor economy in the first quarter of 2023 to meet the subdivision scenarios of DAO. Including Contributors management, Contributor rewards and salary payment system. The core of the second quarter is to expand payment scenarios. It mainly includes support for crypto-to-fiat bank account, expanding the boundary of crypto payment by project parties; issuing native tokens for project parties, supporting partial contract calls; accessing swap services and cross-chain transactions.
At this stage, Safe Treasury began to serve Web3.
It can be found that the main service target of Safe Treasury is DAO. DAOs are exploding, jettisoning traditional hierarchical governance frameworks and empowering contributors of all backgrounds and skills. While these DAOs in the crypto ecosystem are still in their infancy, many have amassed large treasury balances, in some cases hundreds of millions of dollars. The purpose of most DAOs is to permanently manage and govern their protocols. Therefore, the flow of the DAO's funds must be public and scientific, to ensure its continuous operation can continue, and to allow them to invest in future growth. The management of the treasury is very important. Safe Treasury just discovered the strong demand of DAO and prescribes the right medicine.
Safe Treasury's team has extensive financial and blockchain industry knowledge and 10 years of software development experience. The core members of the team include former bank executives, blockchain technology developers, and product designers. The team built a successful photo-sharing app with around 10 million users and steady revenue before venturing fully into the Web3 space. Safe Treasury's team is a continuous entrepreneurial team with balanced qualities. Such a team acts as a bridge to bring the mature financial management experience of Web2 to Web3, and also subdivides the actual use of DAO, a new organizational form. scenarios and propose targeted services.
Questions about data
With the development of the project, a very rich DAO financial management database will definitely be accumulated. This rich financial transaction data, user attribute data, consumption data, and credit data can accurately depict user portraits in any industry. It goes without saying. Faced with such a huge golden mountain, will Safe Treasury choose "open source" or take it for itself, making data an industry barrier for its own business in the subdivision of the Web3 financial management track? In response to this problem, Safe Treasury revealed: "In the future, based on this data, we will provide targeted data research support for the industry."
Safe Treasury is an incubation project within the Peekaboo Moments team and currently has no pressing financing needs. The team said that it will focus on continuing to polish the product, and will seek greater market exposure in the near future to attract more DAO organizations to use Safe Treasury; establish possible partnerships with relevant project parties, such as related data access or output, such as chain Online data access, or asset kanban output for projects, etc.; cooperation with ecology, so as to access corresponding ecological projects, such as incubators, accelerators, and public chains.
In terms of products, Safe Treasury continues to collect the needs and pain points of mainstream clients, and meets some common user scenarios in products.
Regarding the future, Safe Treasury said: "We ultimately want to build a Web3 enterprise banking and financial management platform. We will also focus on this goal in the next 5 years. We will start with the DAO organization to obtain early in-depth users, and then expand to more A wide range of Web3 project parties will gain more market space."