# CoW DAO Treasury Report for July 2023

**URL:** <https://forum.cow.fi/t/cow-dao-treasury-report-for-july-2023/1862>\
**Category:** Treasury\
**Created:** [August 10, 2023, 1:21pm UTC](https://forum.cow.fi/t/cow-dao-treasury-report-for-july-2023/1862 "2023-08-10T13:21:26Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![KPK](https://dub1.discourse-cdn.com/flex013/user_avatar/forum.cow.fi/kpk/32/1731_2.png) [@KPK](https://forum.cow.fi/u/KPK)\
**Post date:** [August 10, 2023, 1:21pm UTC](https://forum.cow.fi/t/cow-dao-treasury-report-for-july-2023/1862/1 "2023-08-10T13:21:26Z")

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We’re delighted to present the [_New Monthly Report on the CoW DAO Treasury for July 2023_](https://reports.karpatkey.com/?dao=4&month=7&year=2023)! This report provides an in-depth look at the treasury’s performance, underscoring our dedication to transparency and signalling progress towards greater automation. A notable enhancement is the clear differentiation between farming and non-farming results:

- **Farming Results** : these encompass outcomes from deployed strategies and positions, including fees from LPs, rewards from various stakings, and rebasing of assets.
- **Non-Farming Results** : these cover outcomes from market conditions and activities outside of treasury management, such as price variation and external cash flows.

The focus for July was on the development of [_CIP-28_](https://snapshot.org/#/cow.eth/proposal/0x269163793f84ceded1b4c902ca1d368e49f4c5991cb4780493feca2a0b640f1b) and the $GNO staking on StakeWise, which allowed us to increase capital utilisation to nearly 100% and maximise returns. In line with the [_Treasury Updates_](https://forum.cow.fi/t/treasury-updates/1763) post, we carried out key activities and replaced one of the two owner wallets representing karpatkey in the CoW DAO Treasury Safe with a 1/4 multisig Safe, enhancing our flexibility.

We reaffirm our commitment to the CoW DAO and look forward to another month of development and engagement. Your thoughts and questions are always appreciated.

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**Author:** ![middleway.eth](https://dub1.discourse-cdn.com/flex013/user_avatar/forum.cow.fi/middleway.eth/32/12_2.png) [@middleway.eth](https://forum.cow.fi/u/middleway.eth)\
**Post date:** [August 11, 2023, 6:49am UTC](https://forum.cow.fi/t/cow-dao-treasury-report-for-july-2023/1862/2 "2023-08-11T06:49:51Z")

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Very detailed report! And the design looks so good. 🤝