The goal of this proposal is to re-elect 4 members that will manage with 4 team members the DAO multisig including treasury and the protocol ownership.
1 year ago Mimo Labs initiated the beginning of the decentralization of the Mimo Protocol with the creation of a DAO multisig which is owning the protocol (MIP-1). A second election has been made in November 2022 for a period of 6 months, it is now time to make new elections.
The DAO multisig controls several functions of the protocol including the treasury and the protocol ownership. The DAO multisig will require 5/8 signatures to execute a transaction.
1 year ago the DAO voted to have 4 Mimo Labs members in the multisig and 4 DAO members. With this system Mimo Labs cannot take control of the protocol. We propose to keep this repartition of signers.
Regarding the signers of Mimo Labs we propose to keep the current signers: Klodio (CEO), Jean Brasse (DeFi Strategist), Martjin (Lead Dev) and Fred (COO).
Regarding the DAO members signers, after observations of the number of signatures of the multisigs we propose the re-election of @georgeous, @arjpet and @Squirrely as DAO signers. As described in the MIP-2.1 Dossy doesn’t want anymore to be in the multisig.
As we propose to elect 4 members, if you wish to participate please introduce your application in this forum post before 18/05/23, elections will start on the 19th. Members will be elected for a 6 months period.
Being a multisig signer is not something to be taken lightly. Multisigs signers have 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.
Initially, as multisig members take risks and time to perform signatures and transactions, a compensation up to 10,000 $MIMO per month per DAO signer has been voted by the DAO with the last election.
We propose to keep the current compensation milestones of DAO multisig signers (team will not be compensated) with up to 10,000 $MIMO per month with a scale based on the % of signatures made per month: (data will be extracted from http://who-signed.xyz/ and reported in this google sheets)
- 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.
After the elections, the new members will be added to the existing gnosis safes which control the protocol and old members will be removed from multisigs.
- Gnosis Safes:
Ethereum: Safe – Dashboard
Safe – Dashboard
Fantom: Fantom Safe
This will be a cumulative vote, where 4 members are selected by the highest vote count and if they pass the 5,000,000 $vMIMO quorum.
- Candidate D
Authors: @starny & @jeanbrasse from Mimo Labs.