DAOTOOL#15 parcel.money a one-stop shop for on-chain DAO Financial Operations
FINE#8385
0x1552
August 26th, 2022

Author(s): FINE#8385

Editor(s): estha#4406

Last updated: 28th Aug 2022

What is parcel.money?

parcel.money is an excellent one-stop shop that offers you on-chain DAO financial operations using Gnosis Safe multi-sig wallet and infrastructure. They help DAOs to automate the complexity of contributors' payrolls. They also act as a platform to manage contributors at a DAO level. They have already simplified payroll for over 750 decentralized autonomous organizations including IndexCoop, BanklessDAO, and OlympusDAO.

Table of Contents:

  • Some of the problems parcel.money is solving
  • How to send a payment request to DAO as a Contributor?
  • How to Import Gnosis safe to parcel.money?
  • How to add contributors and give them Tags?
  • How to create a Recurring pay-out?
  • How to delegate access to Admins & Team leads?
  • How to Integrate Coordinape?
  • How to approve payment requests & Initiate a transaction(delegate access)?
  • How to send a CSV Payout?
  • Summary
  • Useful links

Some of the Problems parcel.money is solving

Keeping track of the ever-growing contributors' list and payment is a time-consuming task for accountants and team leads. parcel.money keeps accountants and team leads on top of things when it comes to payroll. Rather than relying solely on spreadsheets (which tend to get messy very quickly) parcel.money provides a helpful Outlook-like screen where one can easily take care of all their actions from the same page! It's easy to get an overview of pay periods that are coming up in the future and see who has been paid.With the delegate access feature, team leads can easily manage their teams while contributors can clear certain functions quickly and efficiently. Contributors can submit payment requests directly, which saves time for them and their team leads can verify payments. You can even classify your contributors with tags so that you have better control over your workflow!

Paying out Coordinape remuneration manually is process-intensive and full of opportunities for error. But with the parcel.money, you can do it automatically.

Having multiple multi-sigs that are scattered across disassociated locations makes it hard for DAOs; it creates challenges for creating a structure much like what DAOs want. That's where Nested safes come in.

How to send a payment request to DAO as a Contributor?

1. Head over to the app.parcel.money and choose your network

2. Connect your Wallet

3. Choose Contributor option and sign in

4. Click on New Request

5. Fill in the details and click on Submit

6. You can now view your request in the dashboard

How to Import Gnosis safe to parcel.money?

1. Head over to the App and choose your network

2. Connect your Wallet

3. Choose DAO option and sign in

4. Click on the safe you want to Import

5. Fill in the details and click on Import Safe

6. Welcome to the Newly Imported safe.

How to add contributors and give them Tags?

1. Navigate to People section and Click on Add.

Fill in the details and Click on Save

Note: You have the option to Add Contributors manually or using the Invite link or by uploading the contributors list.

2. Check the Newly added person and their Tag

How to create a Recurring pay-out?

1. Navigate to Recurring the section and click on Create

2. Select Tags and Click on Continue

3. Select the Contributors and Click on Add to queue

4. Click on Set Payout

5. Choose the Token and Fill in the Amount. And Click on Save

6. Click on Review

7. After Reviewing Click on Save Recurring

8. Customise the Recurring Pay-out as per your Requirement and Click on Save

9. You can now view your newly created Recurring Pay-out

How to delegate access to Admins & Team leads?

1. Navigate to Settings and Click on Delegate Access

2. Click on Add Delegate

3. Search in the Contributors name and Select the person you want to delegate Admin access to

4. Note: If you want to permit the person to Initiate a transaction, Make sure you tick Can Create Transactions. After that go ahead and click Add

5. Make your choice official by signing it with your web3 wallet associated with the Multi-sig

6. You just Delegated Admin Access.

How to Integrate Coordinape?

1. Navigate to Integrations and Select Coordinape

2. Connect your Wallet and Sign In

3. Coordinape is Integrated. You can now view the circles.

How to approve payment requests & Initiate a transaction(delegate access)?

1. Head over to the App and log in with your Delegate access granted account

2. Go to Awaiting approval section

3. You will be able to view the Requests. Confirm the Requests if it’s valid

4. To Initiate a Transaction Click on the Green Arrow near to Create Transaction

5. Review and Click on Confirm and Proceed

6. Sign the Transaction

7. You have now successfully Initiated a Transaction.

Note: The transaction will only go through if the Governors approve.

How to send a CSV Payout?

1. Select New Transfer

2. Select CsV Payoutand Upload the CSV file

3. Review and Click on Review Payout

4. Click on Confirm & Proceed

5. Confirm the Transaction

6. CSV pay-out is successful. To view the transaction head to explorer.

Summary

parcel.money is one of the best and go-to places for DAOs to manage their on-chain financial operations.

Useful links

For Testing https://beta.parcel.money

  1. Can I create a multisig or do I have to Import one?

    You can both create and Import a multisig.

  2. Which are the chains available?

    Ethereum & Polygon.

  3. Which are the payment modes available?

    Quick Transfer, Mass Payout, CSV Payout, and Due Payouts.

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