Authors; Editors: senad.eth #8782; jengajojo:black_flag:#5896, Trewkat#1933, links#7868, HiroKennellyᵍᵐ:black_flag:#0001
Squad: HiroKennellyᵍᵐ:black_flag:#0001, jengajojo:black_flag:#5896, links#7868, senad.eth #8782, thinkDecade #7181, Trewkat#1933
Date created: Feb 15th, 2023
Date submitted: Feb 28th, 2023
Working Doc: Google Doc
This Forum post’s purpose is to check the community sentiment on swapping out the BanklessDAO multi-sig signers. We seek to introduce an improved, clearer selection procedure, and to detail the rights and responsibilities to the new cohort.
- Multi-sig signers were elected in S1 and never changed. 5/7 multi-sig signers are currently inactive.
- We recommend new multi-sig signers: (poll below)
- must be a L2 contributor with at least 1 year contribution at bDAO.
- must have held a leadership role in the DAO (i.e. coordinator, champion, GC).
- must have experience with multi-sigs.
- We recommend multi-sig signers be compensated in BANK (poll below).
- In S1, BanklessDAO members proposed to transfer ownership of the DAO Treasury from the Genesis members to the DAO.
- DAO members expressed interest, followed by an election submission for applicants and a DAO-wide election. The results were then confirmed via Snapshot.
- The current cohort of DAO Treasury multi-sig signers are: - Icedcool, frogmonkee, Above Average Joe, RedVan, 0xLucas, Eagle, and Kouros.
- One of the primary responsibilities of signers is to move proposals to Snapshot, where the community may ratify consensus reached on the DAO Forum.
- These multi-sig signers have served the community in the past, but currently 5/7 members are not active bDAO community members.
- Based on discussions here, as well as discussions in governance chats and calls, some DAO members believe it’s time to swap the current set of signers with active members.
- We also seek to propose a new set of rights and responsibilities for DAO Treasury multi-sig signers.
The BanklessDAO multisig is a digital wallet that requires 4/7 signatures before a transaction can be executed. Multi-sig signers have been elected by our community and are responsible for moving proposals which meet Forum requirements to Snapshot.
This group helps to ensure that proposals adhere to DAO rules and are reflective of the needs and desires of our community members (e.g. when uncertainty about governance procedures arises).
The current set of signers includes only two active members, which has meant expectations about the provision of guidance have been unfairly placed on these two members. Therefore we seek to understand how the community feels about updating the current criteria and selecting a new multi-sig wallet cohort.
Multi-Sig Signers Mandate
Owners of a multisig wallet are responsible for several key tasks to ensure the security and proper functioning of the wallet. The responsibilities include:
- Ensure the perpetuity of the DAO, in alignment with the DAOs mission, vision and values.
- Participating in the signing process.
- Monitoring the wallet’s activity.
- Managing access and permissions.
- Keeping their software and hardware up to date.
- Representing the organization’s on-chain identity.
- Vetting proposals that go on chain to confirm compliance with governance policies.
- Vetting all transactions to make sure that they align with agreed decisions.
Multi-Sig Signers Expectations
Role Requirements for Multi-Sig Signers include:
- Must be a L2 Contributor.
- Must have been a multi-sig signer.
- Must have been an active member of bDAO for at least 1 year.
- Must have held a leadership position in the DAO (i.e. guild coordinator, project champion, grants committee).
- Must maintain current knowledge of governance procedures if elected.
How do you feel about the proposed role requirements?
- I support the proposed role requirements proposal
- I abstain
- I will comment with my concerns
Do you feel the multi-sig signers should receive BANK compensation for their work?
How much BANK compensation do you think multi-sig signers should receive?
→ This is just a temp check. The final bDIP will use the data below to make a recommendation.
- Compensation same as Grants Committee (4K BANK/wk + 250K seasonal Coordinape)
- 2K BANK/wk + 150K seasonal Coordinape
- 1K BANK/wk + 100K seasonal Coordinape
- I don’t think multi-sig signers should be compensated
- Proper oversight and completion of financial processes for our community.
In order to swap the signers and update the mandate, we expect the following operational flow:
|Temp Check||Awaiting vote||Not required|
|bDIP-XX||Not started||Not started|
|Application Submission||Not started||Not required|
|Multi-Sig Signer Vote||Not started||Not started|
- HiroKennellyᵍᵐ🏴#0001 - Guild and project coordinator, BC Associate, contributor to various projects.
- jengajojo🏴#5896 - Contributor in governance and project management.
- links#7868 - L2 Contributor, PM Guild Coordinator, Bankless Card Champion, governance enthusiast.
- senad.eth #8782 - L2 Contributor, Member of the Grants Committee, ex-DAOlationships Guild Coordinator and Project Champion of B Labs.
- thinkDecade #7181 - L2 Contributor, GC member, project management.
- Trewkat#1933 - L2 Contributor in Writers Guild and several other projects and teams.
How do you feel about changing the current set of multi-sig signers and updating their mandate?
- I support this proposal
- I support the direction but needs improvement (please comment)
- I’m against changing the current set of signers (please comment)