{ "@context": "https://schema.org", "@type": "DefinedTerm", "@id": "https://wulfkaal.github.io/entities/treasury", "identifier": "kaal:entity:treasury", "name": "Treasury", "termCode": "treasury", "inDefinedTermSet": { "@id": "https://wulfkaal.github.io/entities/index.json" }, "author": { "@type": "Person", "name": "Wulf A. Kaal", "identifier": "https://orcid.org/0000-0003-0757-275X" }, "dateModified": "2026-07-29", "canonicalForm": "https://wulfkaal.github.io/entities/treasury.md", "sha256": "f7faa66a864cd1f87ff332d6dc2655f2ac50617ed0e8e3298bd80dde2ece1349", "additionalProperty": [ { "@type": "PropertyValue", "name": "status", "value": "derived" }, { "@type": "PropertyValue", "name": "claim_count", "value": 7 }, { "@type": "PropertyValue", "name": "work_count", "value": 4 }, { "@type": "PropertyValue", "name": "year_span", "value": [ "2022", "2025" ] }, { "@type": "PropertyValue", "name": "non_current_claims", "value": 0 } ], "subjectOf": [ { "@type": "Claim", "@id": "https://wulfkaal.github.io/claims/4067783-013", "identifier": "kaal:claim:4067783-013", "text": "Dispersed, passive token holders cannot defend a DAO: because power in Build Finance DAO was not decentralized, the silent majority of token holders lacked the voting power to block the takeover, after which the attacker minted and sold tokens by draining liquidity pools.", "abstract": "Because of the lack of decentralized power in the Build Finance DAO, the silent majority of token holders did not have enough voting power to prevent the takeover. As a result, the attacker minted and sold various tokens by draining liquidity pools.", "citation": "Wulf A. Kaal, DAO Fallacies (2022). SSRN: https://ssrn.com/abstract=4067783", "datePublished": "2022", "claim_type": "mechanism", "confidence": "evidenced", "is_failure_mode": true, "scope_conditions": [ "low participation among dispersed token holders" ], "source_pdf_sha256": "48f1e307cdbbe28c7843f7744d0ba8cf01662f257a53f2066a7a6c7e03a5acec", "status": "current" }, { "@type": "Claim", "@id": "https://wulfkaal.github.io/claims/4529715-001", "identifier": "kaal:claim:4529715-001", "text": "The paper's empirical basis is a dataset of DAOs selected by the assets held in their treasuries, drawn from across different industries.", "abstract": "The paper provides a dataset (N=[65]) analysis for the DAOs in the dataset selected by assets in DAO treasury across different industries.", "citation": "Wulf A. Kaal, Josh Bykowski, Decentralized Autonomous Organizations (DAO) – A Market Meta Analysis (2023). SSRN: https://ssrn.com/abstract=4529715", "datePublished": "2023", "claim_type": "empirical", "confidence": "evidenced", "is_failure_mode": false, "scope_conditions": [], "source_pdf_sha256": "2d71961e8c449afbeaf45ca4f53de8a575d45c77d6960b767d3d1d0874f296b5", "status": "current" }, { "@type": "Claim", "@id": "https://wulfkaal.github.io/claims/4529715-029", "identifier": "kaal:claim:4529715-029", "text": "Lobby3 was effectively attacked from within: founders maintained heavy control and slowly diverted funds to themselves, producing a very slow rug pull.", "abstract": "Because the founders maintained heavy control and slowly diverted funds to themselves, the DAO suffered from a very slow rug pull.", "citation": "Wulf A. Kaal, Josh Bykowski, Decentralized Autonomous Organizations (DAO) – A Market Meta Analysis (2023). SSRN: https://ssrn.com/abstract=4529715", "datePublished": "2023", "claim_type": "failure", "confidence": "evidenced", "is_failure_mode": true, "scope_conditions": [ "founder controlled DAO with wallet size voting" ], "source_pdf_sha256": "2d71961e8c449afbeaf45ca4f53de8a575d45c77d6960b767d3d1d0874f296b5", "status": "current" }, { "@type": "Claim", "@id": "https://wulfkaal.github.io/claims/5886342-036", "identifier": "kaal:claim:5886342-036", "text": "Where an external claim is brought against a DAO member for actions taken in good faith on behalf of the DAO and within its mandate, the DAO indemnifies that member out of the treasury, with no indemnification beyond the treasury and none where the member acted with gross negligence, wilful misconduct or bad faith.", "abstract": "(3) If an external claim is brought against a DAO Member for actions undertaken in good faith on be-", "citation": "Furrer Andreas, Wulf A. Kaal, Stephan D. Meyer, Universal Digital Law Codex (UDLC) (2025). SSRN: https://ssrn.com/abstract=5886342", "datePublished": "2025", "claim_type": "design", "confidence": "asserted", "is_failure_mode": false, "scope_conditions": [ "action taken in good faith and within the DAO mandate", "indemnification is limited to the DAO treasury", "no indemnity for gross negligence, wilful misconduct or bad faith" ], "source_pdf_sha256": "dc456a1ce2ea4a356dbcb35dc900ec36be94b8c9b6da4a2c8c268d6301f66359", "status": "current" }, { "@type": "Claim", "@id": "https://wulfkaal.github.io/claims/5887242-022", "identifier": "kaal:claim:5887242-022", "text": "Paying treasury distributions in fungible tokens or stablecoins in direct proportion to reputation holdings creates a reputation-weighted salary that monetizes expertise without commodifying governance influence.", "abstract": "treasury distributions (grants, licensing fees, ecosystem payments) are paid out as fungible tokens or stablecoins in direct proportion to reputation holdings, creating a \"reputation-weighted salary\" that monetizes expertise without commodifying influence.", "citation": "Wulf A. Kaal, The UDLC DAO Operationalizing a Continuously Evolving Universal Digital Law Codex Through Weighted (2025). SSRN: https://ssrn.com/abstract=5887242", "datePublished": "2025", "claim_type": "mechanism", "confidence": "argued", "is_failure_mode": false, "scope_conditions": [], "source_pdf_sha256": "4e5c2e2b4304af6d22e0b0939b1fddeabcf091e19a1b00b7bfccf77cbd6280c5", "status": "current" }, { "@type": "Claim", "@id": "https://wulfkaal.github.io/claims/5887242-027", "identifier": "kaal:claim:5887242-027", "text": "The treasury creates a self-reinforcing economic flywheel: the more complete and authoritative the UDLC becomes, the larger the treasury, the higher the bounties, the stronger the incentives for top experts, and the faster the Codex evolves.", "abstract": "This creates a self-reinforcing economic flywheel. The more complete and authoritative the UDLC becomes, the larger the treasury, the higher the bounties, the stronger the incentives for top experts to contribute, and the faster the Codex evolves.", "citation": "Wulf A. Kaal, The UDLC DAO Operationalizing a Continuously Evolving Universal Digital Law Codex Through Weighted (2025). SSRN: https://ssrn.com/abstract=5887242", "datePublished": "2025", "claim_type": "mechanism", "confidence": "argued", "is_failure_mode": false, "scope_conditions": [], "source_pdf_sha256": "4e5c2e2b4304af6d22e0b0939b1fddeabcf091e19a1b00b7bfccf77cbd6280c5", "status": "current" }, { "@type": "Claim", "@id": "https://wulfkaal.github.io/claims/5887242-039", "identifier": "kaal:claim:5887242-039", "text": "The UDLC DAO is the first legal institution that pays its own experts in proportion to ongoing contribution quality out of revenue generated by the value of the Codex itself.", "abstract": "The UDLC DAO is the first legal institution that pays its own experts, in proportion to their ongoing contribution quality, from revenue generated by the value of the Codex itself.", "citation": "Wulf A. Kaal, The UDLC DAO Operationalizing a Continuously Evolving Universal Digital Law Codex Through Weighted (2025). SSRN: https://ssrn.com/abstract=5887242", "datePublished": "2025", "claim_type": "design", "confidence": "argued", "is_failure_mode": false, "scope_conditions": [], "source_pdf_sha256": "4e5c2e2b4304af6d22e0b0939b1fddeabcf091e19a1b00b7bfccf77cbd6280c5", "status": "current" } ], "description": "7 claims in the published works of Wulf A. Kaal carry the concept tag 'treasury'. Derived node: a roster, not an adjudicated definition." }