There is no current standard framework on how transactions within DAOs should be structured and accounted for.
Transactions on the blockchain or so-called block explorers are cash-based and do not comply with accrual-based accounting.
Today many companies having on-chain transactions use crypto sub-ledgers, but the essence of DAOs is to reduce the financial asymmetry of information and instead offer real-time and transparent accounting records.
One company making a significant contribution to advancing the state of on-chain accounting is Steakhouse Financial, a web3 consulting services firm, which has developed a methodology to offer real-time & independently verifiable financial statements for DAOs.
Steakhouse contributors collaborate with industry-renowned names such as MakerDAO, ENS, Lido, Morpho, Badger, and more.
To help us understand this novel way of accounting and reporting on-chain transactions for DAOs, I spoke with Adrian (also known as ‘@adcv_’ on Twitter, the Co-Founder at Steakhouse Financial.
Topics covered;
Follow The Accountant Quits:
LinkedIN: linkedin.com/company/the-accountant-quits
Twitter: twitter.com/accountantquits
Follow adcv_:
Twitter: https://x.com/adcv_
Follow Steakhouse Financial:
Twitter: https://x.com/steakhousefi
Review
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes.
Website
For show notes and past guests, please visit theaccountantquits.com/podcast/
