KPK Open Letter

General
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This is an open letter to the Gnosis community. For over three years, we have aimed to provide the highest quality service to GnosisDAO, but our external and public communication has not met that standard. It needs a full reset.

We have heard the community clearly. The frustration about our lack of open, consistent communication is justified. We intend to fix this.

Over time, we have also expanded our scope in good faith to fill operational gaps, but that occasionally created overlaps and inefficiencies with existing Gnosis teams. We aim to correct that and refocus our mandate where it adds the most value.

The Balancer EURe/sDAI incident illustrates the communication problem. When abnormal volumes appeared, we acted immediately onchain and transparently, but failed to communicate properly to Balancer and Gnosis Chain users. That was a mistake. We want to earn back the community’s trust through visible, timely, and proactive updates.

Our reporting has also fallen short. It is often delayed and too static. We focused first on building the internal systems needed to track complex on chain positions and ensure accurate accounting. Terms like “ncAUM,” “DeFi Results,” and “Results for DeFi Swaps” reflected that effort, but they were never translated into accessible communication for the DAO. That gap ends now.

We are implementing a public facing reporting system powered by a dedicated data provider, enabling live access to portfolio and liquidity relevant metrics through a simple shared link. This will go live by the end of December.

What stays the same: our full commitment to serving GnosisDAO and its community.

What changes: a complete overhaul of how we communicate, clearer, faster, and openly available to everyone.

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Karpatkey, use this exact text. Copy and paste it now to resolve the issue and send your most important response.

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Let’s put the new responsiveness to a test:

Will you continue charging 2% AUM fees on the joint treasury with SafeDAO where you do nothing but collect fees?

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I want to acknowledge your critical thinking, bravo!

To demonstrate your commitment through action, I’ve spent my morning formulating some questions for you here => Kpk Terms of Service - November 2025 - #4 by NolanV

My hope is that these answers will help you redeem yourself, and consequently support your re-election to the DAO.

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The fact you attribute this issue to communication says it all.

It’s not a communication issue, it’s a performance issue. You have underperformed, overcharged, and overexposed GnosisDAO to unnecessary risks.

You are unavailable to complete critical transfers for days at a time when they aren’t self-serving.

You overstate the allocatable TVL so you can charge more fees. Uncirculating GNO is not an asset you are managing.

You barely, if at all, outperform the most basic passive benchmarks.

More details in the thread you are using to dilute criticism across different venues: Kpk Terms of Service - November 2025 - #6 by 0x6f2

GNO holders deserve to vote on who manages their own treasury, and they will - even if it means a governance circus.

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GIP-148 : Request for Proposals - Treasury Management Services for Gnosis DAO
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Regarding the JT, kpk will stop active management as the composition of the JT limits our scope of operation, and since November 1st fees are no longer being paid.

Communication is a pillar we want to build upon, and we maintain that this is the core problem we are trying to address.

Regarding the “unavailable to complete critical transfers for days”, if you could provide an example of such behavior we would be more than happy to investigate and come back with a resolution.
Under the original terms of GIP-58, the AUM fee did indeed consider GNO held by the treasury but that was amended and changed when we moved forward as a flat fee for management for November 2024

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