MIP-1┃DAO Multisig Election 1

Improvement Protocol (MIP) Approved MIPs
1

Summary:

The goal of this proposal is to elect 4 members that will manage with 4 team members the DAO multisig including treasury, protocol parameters and the blog.

Context:

Mimo can only be decentralized if a single actor doesn’t have the control over any aspect of the protocol. The creation of a DAO multisig is the beginning of this transition.

Rationale:

The DAO multisig will control several functions of the protocol including the treasury, protocol parameters and the blog. The DAO multisig will require 5/8 signatures to execute a transaction.

With 4 team members, the team can’t take control of the protocol. The multisig will be compose by 4 team members:

  • Klodio (CEO)
  • Bad (CTO)
  • Martijn (Developer)
  • Jean Brasse (DeFi Strategist)

As we propose to elect 4 members, if you wish to participate please introduce your application in this forum post before 10/05/22, elections will start on the 11th. Members will be elected for a 6 months period.

In order to be able to execute transactions quickly, we propose to set up a time slot each day where transactions can be executed. This will also allow us to avoid requiring the presence of signatories at all hours of the day. We therefore propose an availability period every day between 2pm and 4pm CET.

Any member unable to sign ten proposals in a row will be excluded from the multisig for efficiency purposes.

Means:

As multisig members take risks and time to perform transactions, we propose to compensate multisig members (team will not be compensated) in $MIMO every month with a scale based on the % of signatures made per month:

  • 90 + signed: 5,000 $MIMO
  • 70 + signed: 3,500 $MIMO
  • 50 + signed: 2,500 $MIMO
  • 30 + signed: 1,500 $MIMO
  • 30 - signed: nothing

The total maximum cost will be 60,000 $MIMO/member/year (240,000 $MIMO/year). The compensation payment per member will be published on the blog every month to keep the maximal transparency on treasury spend.

Technical implementation:

After the elections, the new members will be added to the existing gnosis safe who control the protocol and the gnosis safe will be updated to have 5/8 signatures required to execute a transaction.

Gnosis Safes:

Voting Options:

This will be a cumulative vote, where 4 members are selected by the highest vote count and if they pass the 25,000,000 $vMIMO quorum.

  • Candidate A
  • Candidate B
  • ….
  • Abstain
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so to be sure: this proposal is not about the creation of the DAO multisig, that has already been decided? this proposal is about who from the community will participate in the DAO multisig, right?

and on a level of detail (sorry), it’s probably 240,000 mimo on an annual basis instead of 240,00. :slight_smile:

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There was already a multisig that the team controlled until now. We decided to decentralize the multisig, so actually it’s not a proposal whether we should create a multisig because it already exists.

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With this post I would like to officially apply to become a DAO Multisig member.

My journey with MIMO (former TenX) started in summer 2017 with the ICO. Since then I have been in regular contact on all forums with the community and different team members.

Throughout the lifetime, I have used and tested all products and know the story about MIMO. My time horizon is comparable to the team, that’s why all my MIMO tokens are locked for 4 years.
Since I am always active and also free to allocate my time, I can reliably sign transactions on a regular basis.

Lets make MIMO one of the biggest player in defi :muscle:t2::muscle:t2::muscle:t2:

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Hello everyone,

I am Non0.eth, and I want to apply to be a member of the DAO Multisig.

History in crypto
I’m looking to crypto since 2013, but I’m really in a big part of my free time since 2019. I started using DeFi since 2020, in the beginning on sidechain (Fantom) and now more on Ethereum L1. I’m now focused on Blockchain technologies for “real life use”, Decentralisation Finance poject to give people access better opportunity than centralized finance, Governance an Tokenomics.

My History with Mimo and Stablecoin pegged to Euro
As a person living in a Euro Zone, the issue to have a stablecoin asset pegged to Euro was one of my preoccupation. I started using EURs & sEUR (because their was the first to do so). I wasn’t comfortable with some of their technical choice, but it was the only solution back in time. Then some alternatives (Jarvis & Mimo) comes, with better use case (On-off ramp for Jarvis, Multi-collateral asset for Mimo).

My point of view about MIMO
MIMO choose to develop Multi-asset collateral, on a multi-chain platform and governance. Theses 2 feature are for me really atractive and are want I am looking in crypto : This voluntee of inclusion of all member on the DeFi space.
MIMO take place place in more and more On/Off ramp system, and I think it will be a really interesting project to follow in the future, with an high potential.
I followed the development of MIMO since the beginning but I really start to be in since the release on the Fantom Ecosystem. My Yield reward go now in the Voting section, locked for 4 years.

Why I want to take part MIMO DAO
I’m not 100% time in crypto, but I spend the most on my free time on CT, discord, gov forum and protocol. I can bee free between 2PM & 4PM. I want to stronger take part in the DeFi ecosystem, and I want to help MIMO took the place he deserve in this spac :slight_smile:

It looks like a No-crypto Motivation Letter. For more info, I invite you to listen my beautiful English accent on ProofOfHumanity (Non0)

Thank you for reading :heart:

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Eternal Mimo-enthusiastic this @george. Cool !
I don’t know if we will be able to vote for several people depending on the number of candidates, but one of my votes will surely go for you.

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Definitely, quality profiles are candidates, well done @Non0.
Yes, the philosophy envisaged by Mimo seems promising for its users and not only in money but also in human project : I agree

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Hello! I am arjpet and interested to join the dao multisig team. If you’re in the telegram forum from time to time, you’ll probably see me drop by every now and then. Involved from the start of mimo and the longer I am part of the community the more enthusiastic I become.

The potential of mimo is enormous and I like to actively contribute to it. You can expect me to be a real committed mimo fan, that’s why I locked my mimo for a long period of time. The time factor in relation to the multisig team is not a problem for me.

Use your vote for the community member you feel most comfortable with. This proposal in itself is already a gain for the mimo protocol!

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Well, @arjpet , a new candidate who regularly intervenes on Telegram indeed.
It is this notoriety that I recognize and that makes me send you my encouragement for your candidacy, the community needs to have delegates recognized as being active, so I think you have your place there, good luck

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Hello to all!

I’m Miaki, delegate at Paladin (a governance protocol) and I follow Mimo very closely! I’m currently working on a proposal that should be out soon !
That’s why I want to involve myself even more.

My goal is to make governance activism fun and interesting. To do so, I write threads to get people interested and not hide anything from them!

Twitter Thread : @socialkiqs

With this in mind, I’m also running for committee member to keep you informed of what’s going on behind the scenes and to make sure you always have your say! :sparkles:

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Hello my Nickname is Ilovecrypto /@Alphacenurio

my Journey with TenX / MiMo started in 2017 and since then iam part of the community rocketchat - reddit - tenx forum - and Telegram (and now discord).

We lost / and found a lot of people over the years - And we went through a lot of highs and deeps (It was an extremely high and deep rollercoster for me (unfourtunatly the blockchain forgets nothing and still show me how much eth i invested back in these days xD)).

To be serious - there was never a so clear path in front as today!

Was sceptical - asked questions - but

The vision is now clear - the team is highly motivated - the community is extremly optimistic- !
I always be in some sort critical (cause i learned in other investments you have to) but look the opportunity we have now … its hugh … if you dive deeper you even see how hugh this is (“Tax” etc)!

Enough of me and the past:

What about this “DAO Multisig Election” here? Is this a way to farm yield or what is it?

So why did this come up here? The reason is that the DAO’s Multisig should definitely be decentralized in protocols like mimo. So we have 4 members of the team voting and 4 members of the community. That helps always to see all decisions where made by all (not only the team-members)

Even if I personally would prefer that at least 2 guys of the community need to vote and the team (6/8).

You should be always critical what here will be executed (not around the vision of the team cause this is really the same vision that counts for most of the community members but about the benefit for the protocol).

Thats a really high responsible role right?

Definitly! We should take this very serious cause we have a lot of responsible here for the whole protocol.

Everyone holding MiMo-Tokens should really DYOR and research everyone that throw his hat in this ring here (research me aswell and write me on telegram ask questions)=)

!!!-- You definitly should not do this for the MiMo-Tokes or farm some extra cash --!!!

This crucial for the protocol and you are responsible for it as a voter (i repeat me i know).

I did my research and after that I decided to throw my hat in to this as well. I’m personally not a big fan of people that never wrote 1 post on telegram or are not holding any MiMo-Tokens and participate in something like this. We are here for the long term - participate in the Telegram chat or on other social media and buy some MiMo-Tokens. I will definitely vote for you in the future!!!

I would also love to see here from Telegram some other members (even if they take my seat i will be happy cause i know its a win for the protocol)

(will ping them after the post)

Greetings

Ilovecrypto / @Alphacenurio - I can vote at everytime between 09:00 CET and 22:00 CET

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Hello guys,

I would like to announce my official application to become a DAO Multisig member.

My introduction to MIMO protocol started at his genesis as user until today being top token holders and becoming close to the founders members.

Furthermore, the reason of my strong endorsement for MIMO is mainly due to the appreciation of the products as for my industry which is BTC/ETH miner since 2015 which i highly represent the community.

In that sense being actively reliable in the DAO sign transactions on a regular would be an honor.

MIMO to the moon :pick:

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Hello Mimotaurs, My name is Abdel.
Those who are “in” MIMO know me, i think.

I try to be a part of this project in a positive way from the beginning even during storms.
I do it because am a true believer.

Now i really wanna get more involved into it.
Am ready to increase my commitment !

For the time investment, it’s not a problem for me. I’ll always be available for the mission.

My life time is quiet simple to organise.

GO MIMO !

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Hi everyone,

Out of kindness, I had started to comment/encourage the first few applications and then refrained (sorry for the others) as I don’t want to appear to pollute the thread unnecessarily.

I notice that, as in many other organisations (even outside crypto), the number of candidates is low compared to the number of members/users, despite the proposed incentive.

So we often find the same articulation in DAOs:

  • A group of founders/developers
  • A group of delegates/ambassadors/facilitators to the community
  • A group of the most senior community members and/or a group of community members who are particularly active in the various discussion channels.
    Other community members are rarely included because they don’t apply or because the places are reserved in advance.

So far, I notice that the MIMO Snapshot has only 21 registered members and that each MIMO protocol change proposal has only about 15 voters at most.
I systematically vote as a matter of principle even though I know that my vote carries no weight: at present, it is the team that has the capacity to guide decisions but I appreciate its willingness to gradually integrate users.
The proposal of DAO multisig goes in this direction, that’s why I want to address the members of the team in priority while also hoping to convince the other Mimotaurs:

I am of course convinced of the necessity of the presence in the DAO of the three groups indicated above, but I am also convinced of the necessity of integrating the fourth group which is rarely present, because, if the idea is to decentralise, why extend the power only to the extensions of the same hands?

I am not a computer technician nor a crypto-currency specialist, I am not a delegate nor a community leader, I do not have much seniority, I am not very active on the channels, so I do not have any of the qualities usually required to apply.

On the other hand, I totally adhere to the MIMO philosophy (日本哲学 ? ), this is my first investment in DEFI for which I make a regular financial effort because I am an unconditional believer in its (also humanistic) long-term potential, I read the published texts and watch the videos, I am present on the communication channels without necessarily manifesting myself, I learn and cultivate myself to the maximum, I can therefore reasonably think that I am quite representative of the common early adopter who undoubtedly forms the majority of the community, with the difference that I am perhaps more committed than most because from the beginning I blocked a lot of Mimo in the VotingEscrow contract (before and without knowing that this blocking would allow me to receive income) in order to be able to participate in the decisions.

That’s why I’m running for the fourth and final spot on the DAO multisig, so that there is at least one community representative who is not from the technically sophisticated users, who can bring a different and quirky but probably constructive perspective.

Thank you (and wish me luck, I need it)

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