From: The Euler Foundation
To: The Euler Community
Announcement of Euler Treasury Transaction
The Euler Foundation would like to brief the community on a forthcoming transaction, the first of several through 2Q2023.
The transaction performs on a services contract entered into by The Euler Foundation, on behalf of the DAO, with Euler Labs, covering research and development-related matters. The Foundation made this 2-year agreement with Euler Labs in 2Q2022, prior to DAO launch. At the one-year anniversary of the contract, the DAO will be able to review the performance, comment, and vote to ratify the second year of the contract.
The $2.15m USDC transaction covers the months of May through September. Future transactions under the contract will be paid on a quarterly basis (in January for 4Q2022, in April for 1Q2023).
As always, transparency is core to the Euler ethos. Please see the Gnosis Safe transaction hash for reference.
Thank you,
The Euler Foundation