Summary:
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.
Context:
18 months ago Mimo Labs initiated the beginning of the decentralization of the Parallel Protocol with the creation of a DAO multisig which is owning the protocol (MIP-1). A second election & third election has been made in November 2022 & May 2023 for a period of 6 months, it is now time to make new elections.
Rationale:
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.
18 months 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 all current signers (@georgeous, @arjpet, @Squirrely and @evix) as DAO signers. But if you wish to participate, please introduce your application in this forum post before 1st December 2023, elections will start on 2st December 2023. 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.
Means:
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.
Technical Implementation:
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.
Ownership & Treasury Multisigs:
-
Ethereum: Safe{Wallet} – Dashboard
-
Polygon: Safe{Wallet} – Dashboard
-
Fantom: Safe{Wallet}
MIMO Inflation for Liquidity Incentives Multisigs:
Voting Options:
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.
- Squirrely
- Arjpet
- Georgeous
- Evix
- ….
- Abstain
Authors: @starny & @jeanbrasse from Mimo Labs.