Episode 70 - Adcv_ From Steakhouse Financial On Financial Reporting For DAOs The Accountant Quits podcast

Episode 70 - adcv_ from Steakhouse Financial on Financial Reporting for DAOs

5d ago 1:08:33

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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;

Episode intro (0:47)
Adrian’s story into blockchain (3:10)
Starting Steakhouse Financial (5:37)
Using Dune Analytics to prepare MakerDAO’s financials (7:17)
Can Steakhouse commercialize Dune Analytics dashboards as a product (14:30)
Dune Analytics dashboards for Lido, ENS (15:52)
How to start with Dune Analytics (18:22)
SQL knowledge to learn Dubne Analytics (19:30)
Using owner labels (21:59)
Web3 tools used by Steakhouse Financial (24:03)
Using AI for crypto accounting (26:27)
Thanks to our sponsor Web3Finance Club (27:51)
Benchmarks & performance attribution for DAO treasuries (29:38)
Diversifying into wBTC, stETH, sDAI (36:30)
DAO Accounting research paper, and should DAOs use sub ledgers (38:11)
What is a rebased token and wrapping stETH to wstETH (42:47)
Accounting for stETH & wstETH (46:58)
How CFOs can manage treasury with staking (47:53)
Overview of Steakhouse’s services (57:13)
How should accountants upskill with blockchain (1:01:17)
How to reach out to Adrian (1:04:19)
Highly recommended reading - Nikolai's principles (1:04:58)

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Follow adcv_:

Twitter: https://x.com/adcv_

Follow Steakhouse Financial:

Twitter: https://x.com/steakhousefi

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70 episodes