DAO Wallets
Every DAO on Upstream comes equipped with a DAO wallet, which serves as the shared treasury of the organization. By default, the DAO wallet is displayed as "Treasury Wallet." This section provides essential information about the wallet's balance, tokens held, and NFTs owned, allowing DAO members to keep track of the DAO's financial status and assets. Additionally, the DAO wallet offers the ability to link and unlink additional wallets, providing further insights into the organization's financial activities.
Viewing DAO Wallet Details
The DAO wallet section provides the following details:
Balance: The amount of ETH in the DAO wallet is displayed under the "Balance" section.
Tokens: The value of tokens held in ETH is shown under the "Tokens" section. This includes the DAO's native tokens or any other tokens held by the organization.
NFTs: The value of NFTs owned by the DAO, expressed in ETH, is listed under the "NFTs" section.
Opensea and Etherscan: You can easily view the DAO wallet in both Opensea and Etherscan, allowing for a more comprehensive understanding of the DAO's financial activities and assets.
Balance Over Time: A graph allows you to track the balance of the DAO wallet over time. This graph is valuable for monitoring financial trends and fluctuations in the organization's resources.
Linking & Unlinking Additional Wallets
One of the features of the DAO wallet is the ability to link and unlink additional wallets to the DAO. This feature allows DAO members to keep track of other wallets associated with the organization, such as hot wallets used for specific interactions.
Understanding Hot Wallets
A hot wallet refers to a crypto wallet that is connected to the internet and used for frequent and active transactions. Hot wallets are convenient for day-to-day operations and enable quick access to funds, making them suitable for interactions within the DAO.
Linking a Wallet
To link an additional wallet to the DAO, follow these steps:
Navigate to the DAO and click the "Create a Proposal" button.
Select Wallet -> Link Wallet.
Provide the wallet address and a nickname for the wallet you would like to link.
Voting and Approval: The proposal needs to go through the voting process, during which DAO members will cast their votes. Once the proposal receives sufficient votes to pass the quorum requirement, it will be approved.
Execution: After the proposal is approved, a signator will execute the proposal, completing the process of linking the wallet to the DAO wallet section.
View the additional wallet in the DAO Wallet section.
Unlinking a Wallet
To unlink a wallet from the DAO, follow these steps:
Navigate to the DAO and click the "Create a Proposal" button.
Select Wallet -> Unlink Wallet.
Select the additional wallet that you would like to unlink from the DAO.
Voting and Approval: The proposal needs to go through the voting process, during which DAO members will cast their votes. Once the proposal receives sufficient votes to pass the quorum requirement, it will be approved.
Execution: After the proposal is approved, a signator will execute the proposal, completing the process of linking the wallet to the DAO wallet section.
View the additional wallet in the DAO Wallet section.
By utilizing the DAO wallet and its associated features, Upstream DAO members can gain valuable insights into the organization's financial health, assets, and connected wallets. This transparency and visibility contribute to effective decision-making and governance within the DAO.
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