Ask:
To adopt Parcel as the preferred payments & payroll solution for Nexus Mutual.
Problem Statement:
(TLDR, Your DAO will face high overhead costs, delays in executing payrolls, privacy issues & have to slot off a major chunk of time in dealing with payrolls without relying on the right plan or tools for smooth payroll & operational payouts)
Payroll administration & coordination is a tough job for a DAO. Many DAOs seek to reinvent the future of work however the way payroll’s executed within these communities is backward.
Issues with manually executed multi sig payments & payrolls: Many DAO operators run their scaling community on spreadsheets & manually push transactions increasing execution times & overhead costs. The amount of manpower required is also intensive especially during month end. And if they don’t use a proper payment tool, the amount of gas fees required to approve & execute a mass payout event will be exorbitant. The amount of time required to coordinate & track payment approvals for a multi sig operator is also hard this way creating more time gaps before execution.
Centralization in payroll admin work: DAOs were supposed to be a hub of decentralisation, however when it comes to payroll administration, the multi sig structure around signers proves to be a constraint as leads are forced to send contributor information to operators for payroll execution & don’t have broader powers in executing financial decisions for their teams. This lowers their morale & increases decision making time.
Privacy Red Flags: The way contributor information is also sought before regular payroll execution involves a lot of backforth communication over multiple apps like email, discord etc creating privacy red flags. Many communities involve multiple leads who are able to access contributor information over on an Airtable or a spreadsheet before payroll is executed creating major privacy issues.
Lack of Reporting: DAOs are unable to exploit proper reporting tools for their benefit creating a lack of insights for payroll or treasury optimization & also come up short on their compliance requirements.
At the same time as DAOs scale up to include subDAOs or guilds as part of their organizational design for growth & specialization, operations become messy if coordinated through multiple disparate channels & without the right mix of analytics & reporting to optimize for operations, it becomes a chaotic, context less quagmire of bureaucracy which stifles innovation & community growth.
Solution:
(TLDR, Use Parcel!)
Parcel was built on top of Gnosis Safe as a friction free, highly modular payments management solution to ease the payment experience for DAO operators & smoothen their payroll ops.
Our core offerings are:
Mass Payout Modes: Exhausted after dozens of expensive transactions to pay off team salaries? Execute payrolls, grants or expense reimbursements in just one transaction. Multi token splits are supported.
Recurring Payments: Require Mary, Ashley and Liz to input, review and double check recurring payrolls before you click Send every month? Save time and gas fees by automating payrolls seamlessly at periodic time intervals with Parcel.
Payment Requests: Do you multi-task across apps just to review and approve one compensation request? Use our payment request feature to evaluate a contributor’s work and approve compensation in one go.
How we’re differentiated from the rest:
TLDR, (Our nested safe interface, delegated access feature, integration with DAO tools like Coordinape & invite links are USPs along with our core offerings plus sponsored gas transactions if you partner with us. Also a highly responsive support team!)
Parcel has designed (and will continue to deploy) a feature set by putting the immediate requirements of our DAO users & operators first. By listening to our users, we’ve brought out these features that allow us to stand out from our competitors:
Nested Safe Interface: Parcel supports nested safes which essentially allow other safes to join in as a signer. This allows for on chain cross guild collaboration as well as provides a degree of control & transparency for the DAO with the WGs being formed.
Parcel has created the Nested Safe Interface for DAOs who have adopted this structure wherein DAO operators can participate in transaction workflows through the parent/DAO multi sig without having to personally sign in through multiple WG or subDAO safes
This also protects the DAO operator from liability by not having to sign in personally to multiple WG safes & allows him to have a clear & categorized context of all that’s going on with the WGs in a transparent, formalized manner.
Delegated Access: Squad leads are stifled from lack of budgetary autonomy due to constraints of on-chain DAO decision making.
Now with Parcel, delegate power to leads and DAO operators through selective access of the platform while retaining control of signing power.
This allows for easy delegation of payroll administration work to teams within the DAO, eases out work for operators to focus on broader financial decisions & increases decentralization within a DAO.
Integrations with Coordinape (other apps coming soon): Coordinape is a widely used platform that enables for collaboration around compensation allocation, grant distribution & incentive decisions rather than the centralization of a single lead or committee. However it does not support settlement to the preferred token of the DAO. This increases payroll admin work & time.
To solve that, we’ve integrated Coordinape that allows for easy conversion of circle scores within Parcel to the tokens of your choice making it easy for operators to execute payrolls within your DAO.
We’ll be facilitating more integrations with DAO tools in the coming future simplifying your payment operations across the DAO ecosystem.
Invite Links: Simplify your payroll onboarding, bounty settlement & non payroll related transactions by using our invite links that allow for batching & segregation of these requests away from payroll. And with our batched payment request feature, you can execute them in one transaction!
Parcel Partner Initiative: Parcel has created an initiative for DAOs where we sponsor the transaction fees for DAOs if they choose to partner with us. DAOs can now focus on scaling their operations while Parcel bears your overhead costs & provides you the payment rails for a smooth payment experience.
Highly Responsive Support Team: We’ve a fabulous support team who are friendly & listen carefully to your issues. Our team also ships quickly if there are additional features to be deployed or bugs to be exterminated.
Wanna say hello? Hit up our discord & we’ll be stoked to connect!
List of key partners/users & achievements:
Parcel has processed over $150+ million in payment volumes for over 1500 Gnosis Safe addresses.
Here’re some of our key partners & users (and growing!):
- IndexCoop
- ENS
- DeveloperDAO
- BanklessDAO
- Aavegotchi
- Forefront
- Shiny Object Social Club
- GCR
- dYdX
- Polygon EDAO
- OpenDAO
- mStable
- PartyDAO
- Orange DAO
- PowerpoolDAO
We’ve also secured backing from some of the top investors in our space such as Cooper Turley (coopahtroopah.eth), Consensys (Tachyon Accelerator), Sandeep Nailwal, Ryan Sean Adams (Bankless), Linda Xie, GCR etc to fuel our roadmap & team towards building a composable, community driven payments solution for DAOs.
Additional Resources:
Documentation: What is Parcel? - Parcel Docs
Point of Contact:
If you want to reach out to us, here’s our POC:
Nupur Mehra, Business Development Lead
Email: [email protected]
Discord: Nupur | Parcel#4467
We are ready to schedule demos for you to understand the platform & we’re also happy to answer any questions here below!