♟️Treasury
At the heart of BIM’s operations is our treasury, which is overseen by our dedicated team of core contributors. Since our $BIM token is fully distributed, with no tokens set aside for future use, the entire operation is supported by our ongoing revenue-generating activities. To ensure the continuity of our services, BIM relies on the constant oversight of its treasury team, who manage the treasury responsibly and in the best interest of the DAO.
This page describes the structure of the BIM treasury, provides an overview of our treasury management approach, and gives you the details needed to monitor our treasury activities live.
Treasury Council
The Treasury Board, managed by the BIM Labs Team, was established to oversee and manage all Treasury transactions and related activities for effective treasury management. Over time, the role of the Treasury Board has expanded to include:
Orchestrating, signing, and executing all Treasury transactions (including non-Treasury payments);
Managing Treasury assets, such as creating and exiting protocol-owned liquidity, handling grants, pending rewards, and other external assets;
Monitoring and providing operational capital (e.g., gas) for the BIM infrastructure;
Arranging payments for key expenses, including contributor salaries, sponsorships, recurring hosting and service fees, and reimbursement of contributor expenses;
Managing regular payments to partner exchanges.
The Treasury Board consists of six members, and a consensus of five is required to approve any MultiSig transaction before it can be executed.
Treasury Infrastructure
The BIM Treasury relies on several key infrastructure components to ensure the secure management of Treasury funds, both for inflows and outflows. These key elements include:
Treasury Multisig: Multi-signature wallets controlled by the Treasury Board, with the approval of the DAO, which securely hold all major Treasury assets. This setup ensures that no single individual can exploit the funds.
Treasury Contributor Wallets: Externally Owned Accounts (EOAs) managed by various BIM contributors, including Treasury Board members and other key DAO participants. By using EOAs to interact with external protocols and contracts, we reduce the risk of hacks or exploits affecting the BIM Treasury, as it remains isolated from external approvals and elements.
BIMcollector: The BIMcollector is a bot, maintained by the Beefy Core team, designed to regularly harvest BIM vaults (at least every 24 hours) or whenever a profitable opportunity arises. The bot calculates the potential rewards in relation to the cost of the harvest and makes automated harvest calls when appropriate, as the caller receives a small commission based on the harvest.
Fee Pool: The BIM fee pool is a set of contracts deployed on each blockchain to aggregate BIM fees from across the protocol in one place, allowing for efficient distribution to stakeholders.
You can find the Treasury multisigs at the following addresses for the listed blockchains:
Additional blockchains will be added in the future.
Treasury Management
The management of BIM's Treasury has evolved over time to adapt to the changing needs of the protocol and the DAO. With operations spanning multiple blockchains, each with its own set of vaults, infrastructure, and MultiSig wallets, managing the Treasury has become a complex task. To address this, several guiding principles have been established to ensure best practices.
Firstly, BIM's contributor team has chosen to operate the Treasury on each major chain primarily in stablecoins. This approach reduces the downside risk of holding volatile assets and allows BIM to make clear and deliberate decisions about the use of its funds, without being influenced by fluctuating market conditions. Consequently, the Fee Batcher on each major chain converts all BIM vault fees into a designated stable currency for that chain, as outlined in the Inflow Currencies section below.
Inflow Currencies
Polygon: CRVUSD
Arbitrum:
Avalanche:
Base:
BSC:
Ethereum:
Optimism:
Gnosis:
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