Risk Committee Reelection Processs

Risk Committee
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Risk Committee Application - exTreasury

Entity Background

exTreasury is a licensed investment management company incorporated in the British Virgin Islands (BVI) under an Approved Manager License. As a specialist in crypto asset management, exTreasury focuses on three core areas:

  • Bespoke Crypto Portfolios for Institutional Clients: We tailor investment strategies that meet specific institutional mandates, combining expertise in digital assets with rigorous risk management practices.

  • Consulting Services: We offer guidance on crypto asset allocation, risk management, and operational infrastructure to ensure optimal performance and compliance.

  • Treasury Management: We help DAOs and their Foundation companies manage or setup their treasuries effectively, prioritizing sustainable growth, risk mitigation, and alignment with community objectives.

Further information about exTreasury can be found on our website: https://extreasury.com.

Nominated Key Individual

Andrew Knight, co-founder of exTreasury, will represent the firm on the Ethena DAO Risk Committee. Andrew brings a wealth of experience and qualifications to this role:

  • Andrew is a CFA and CAIA charter holder, demonstrating advanced expertise in financial analysis, alternative investments, and risk management.

  • Andrew has spent the last seven years exclusively managing digital assets, giving him a nuanced understanding of the crypto market’s opportunities and risks.

  • Before founding exTreasury, Andrew successfully launched multiple regulated crypto mutual funds and a venture capital fund.

  • Having witnessed the fallout of inadequate risk management firsthand, Andrew’s approach is characterized by proactive mitigation strategies and a commitment to transparency.

Andrew’s qualifications and experience position him as a valuable contributor to the Risk Committee, where he will leverage his expertise to ensure the long-term sustainability and stability of the Ethena protocol.

Statement of Intent

exTreasury is applying to serve on the Ethena DAO Risk Committee to:

  • Support Ethena’s mission by aligning with the DAO’s values of transparency, innovation, and community-first governance, we aim to strengthen the protocol’s scalability.

  • Contribute expertise in Risk Management through our team’s deep understanding of crypto market dynamics, DAO governance, and investment risk.

  • Enhance community confidence by adopting a structured, data-driven approach to risk management.

To fulfil the committee’s purpose, exTreasury will:

  1. Bring Analytical Rigor and deploy methodologies to identify, assess, and mitigate risks.

  2. Engage constructively with committee members and the Ethena community to align on priorities and strategies.

  3. Uphold the highest standards of integrity and transparency in all decision-making processes.

Previous Involvement with Ethena

exTreasury has been involved indirectly with Ethena for the past nine months through our consulting work with Lemma, the entity currently managing operations for the Ethena Foundation. This collaboration has provided us with a thorough understanding of Ethena’s operational structure, objectives, and challenges, positioning us to add immediate value to the Risk Committee.

Evidence of Expertise and Value to the Committee

  • The team at exTreasury has advised multiple DAOs on corporate structuring, compliance, treasury management and legal issues, ensuring alignment with regulatory requirements and community goals while mitigating financial and operational risks.

  • Amongst the founding team there is significant expertise ranging from Crypto Currency Security Council (CCSS) memberships, to directorships on top-tier DAO Foundations.

  • exTreasury has engaged with a number of DAOs and Foundations to effectively manage their assets and consult on best practices for risk management.

  • Individuals from our founding team have published insights and participated in industry panels on topics including stablecoin strategies, compliance, and DAO sustainability.

Conflict-of-Interest Declaration

We acknowledge a potential conflict of interest as Hash Directors is a seed investor of exTreasury. Hash Directors also serves as a Director on the Ethena Foundation. To address this, we propose the following mitigations:

  • Hash Directors will abstain from any Foundation decisions that overlap with exTreasury’s involvement.

  • We will maintain clear and open communication with Ethena stakeholders to ensure alignment of interests.

  • exTreasury will adhere to Ethena’s governance guidelines to ensure impartiality in all committee activities.

Conclusion

exTreasury is uniquely positioned to contribute to the Ethena DAO Risk Committee by combining deep expertise in crypto asset management with a proven commitment to DAO governance. We will uphold the committee’s mission to act in the best interests of the Ethena community and safeguard the protocol’s long-term success.

We look forward to the opportunity to serve Ethena DAO and welcome any questions or clarifications regarding this proposal.

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