MIP-13┃DAO Multisig Election 2.1

Improvement Protocol (PIP)
1

Summary:
The goal of this proposal is to re-elect 1 member that will manage with 3 others DAO members and 4 team members the DAO multisig including treasury and the protocol ownership.

Context:
In November 2022 took place the second election of the DAO multisig, concluding with the election of Georgeous , @Squirrely , @arjpet and @Dossy as signers.

For personal reasons @Dossy informed the other signers of the multisig on March 3, 2023 that he no longer wished to be a signer of the multisig and would not sign any more transactions from that day on.

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(message from the public channel #multisig-actions on the Mimo Discord)

Rationale:
The DAO multisig controls several functions of the protocol including the treasury and the protocol ownership. The DAO multisig requires 5/8 signatures to execute a transaction.

Dossy proposed to transfer his role as signer to the 5th person with the most votes in the last election. However, since this one took place more than 4 months ago, it seems appropriate to make a new vote.

Current multisig signers may not run for election a second time. The multisig signer must be able to technically verify a transaction before signing it. He also takes responsibility for what he signs, especially in case of an error (this can happen).

Being a multisig signer is not something to be taken lightly. Multisigs have a full control over the protocol, the slightest mistake can have very important consequences for the users of the protocol as well as the protocol itself.

As we propose to elect 1 member, if you wish to participate please introduce your application in this forum post before 11/03/23, elections will start on the 12th. The new signer will be elected until the next vote initially planned, in May 2023.

Means:
Following MIP-10, The signer will receive compensation based on the same system.

  • 90 + signed: 10,000 $MIMO
  • 70 + signed: 7,000 $MIMO
  • 50 + signed: 5,000 $MIMO
  • 30 + signed: 3,000 $MIMO
  • 30 - signed: nothing

The total maximum cost will be 120,000 $MIMO/member/year (480,000 $MIMO/year). The compensation payment per member will continue to be published on the discord and on this google sheets every month to keep the maximal transparency on treasury spending.

Technical Implementation:
After the elections, the new member will be added to the existing gnosis safes which control the protocol and Dossy will be removed from multisigs.

  • Gnosis Safes:

Ethereum: Safe

Polygon: Safe

Fantom: Fantom Safe

Voting Options:
This will be a cumulative vote, where the member with the most votes will be elected.

  • Squirrely
  • Arjpet
  • Georgeous
  • Candidate D
  • ….
  • Abstain

Authors: @starny & @jeanbrasse from Mimo Labs.

2 Likes
2

Hey there,

A few months ago, a vote was conducted to select members for a specific period of time for the multisig. Should I decide to relinquish my seat, the next member in line from the voting will take my place (at least from my understanding).

The rationale behind this new election is not entirely clear at this moment, but perhaps we will gain a better understanding after the vote has taken place.

Best regards

Dossy

3

Hi, as write in the Rationale, I think this part answers your question :

Dossy proposed to transfer his role as signer to the 5th person with the most votes in the last election. However, since this one (MIP-10 | Multisig election 2) took place more than 4 months ago, it seems appropriate to make a new vote.

As the situation has changed since 3-4 months with the introduction of Kuma for example, it would not be surprising to see new people within the DAO wanting to participate in decentralization. That’s why it’s much more interesting to have a new election