Introducing DAO native automated payments

Parcel
Parcel
0xe6C6
October 23rd, 2021

You know the feeling when you’ve been working on a jigsaw puzzle for countless hours and you place that final piece in its right spot, forming the whole picture that matches the image on the box perfectly? You sit back, appreciate your effort, and experience that unmatchable sense of accomplishment.

Now, imagine feeling that way about your contributor payments— envision automation spanning the entire rewards payout process from the treasury all the way through your contributors. It’s possible with Parcel’s newest features around DAOs’ payout processes.

While Parcel has long assisted its users to make 1-click mass payouts on top of Gnosis Safe, there has been an emerging need for added solutions and functionalities.

We collaborated with a lot of DAOs, identified the gaps, and meticulously worked on their valuable feedback. Now, we are set to outdo these processes as Parcel unveils a new set of features that will solve a lot of pain points that DAOs face.

Here’s all you need to know about our biggest update so far.

Automated Recurring Payouts

Automation in payouts or the "set it and forget it” feature will replace the process of manually making the payments. This strategy will allow DAOs to specify the amount of rewards to be paid out in their desired token at a particular interval. For example, you could choose to pay your 250 contributors every Monday or every month.

Making automated recurring payments is not only convenient, but it also eliminates many of the challenges around processing payrolls.

Our recent integration with Gelato Network’s decentralised network of bots makes the system foolproof. Auto-scheduling can help you schedule fixed rewards to be paid at a predefined time.

This is especially beneficial for fixed expenses and fixed contributor rewards, leaving ample time for performing vital DAO activities.

CSV Mass Payouts

Parcel has used the strong suits of both a CSV file format and on the fly payouts to create a seamless and fluid payment experience to execute grant disbursements, airdrops, variable contributor rewards and other ad hoc expenses. You can directly carry out transactions in multiple tokens right after uploading a CSV without having to move over to another tab on the dashboard. The process is quite simple and straightforward.

  1. Simply enter the following information for the payment you are trying to make: name of the payee (optional), wallet address of the payee, token symbol, amount to be paid. Once all the information has been entered, save the file in CSV format in your system.
  2. To upload the file, go to New Transfer and select Payout via csv. Drag and drop the file to upload it. Once you have uploaded the file, the system will populate all the details of the transaction to be executed.
  3. Finally, click on Create Transaction to enable other owners of the multisig to approve and execute the transaction on the blockchain.

CSV payouts offers convenience of time and effort, saves upto 60% gas fee and helps keep track of transactional meta data like payee name and description of the transaction.

Testnet

We are going live on a testnet, a long-awaited move that will make it easier for users to try the app. We embraced your feedback and you can now access our app on Rinkeby testnet.

With this you can try the same set of features that are live on mainnet including :

  • 1-click mass payouts
  • Add contributors and make teams
  • Automated recurring payouts with Gelato

We would love for you to play around with our testnet app and tell us what you think!

Road ahead

Can't stop, won't stop!

Parcel recently crossed $27M in payouts and we strongly believe we have a long way to go.

We are set to launch a ‘Scaling Treasury Operations’ program aka ‘get rid of spreadsheets’ to help DAOs with coordination across treasury funds, working groups and contributors. Updates to follow!

We would love to hear your thoughts on what we have crafted. Join us in our ever growing community.

Change Log

  • Improved sidebar and topbar
  • Notification of pending transactions on the sidebar
  • New tables UI
  • Bifurcation of transactions between pending, executed and automated tab
  • Improved UX of people section with easy editing and mass deletion
  • 1-click payout to teams or individuals from the people section
  • On the fly amount editing in mass payout
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Ethereum Address
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