DAO Multisig wallet and Initial committee
Sep 3rd.2021
Status: unassigned
Proposal Overview
We propose to create and use a Gnosis safe with 4-out-of-6 signers as the DAO’s multisig execution wallet and committee.
Motivation
The SSV DAO intends to fully automate the execution via solutions like reality.eth which use game-theory based oracles to communicate off-chain events to smart contracts.
Unfortunately such solutions are not well adopted and tested yet and therefore pose too much risk and are inapplicable
Other on-chain voting methods adopted, and later abandoned, throughout the industry have already proved to discourage potential participants from voting and engaging with the DAO to a substantial extent (due to high transaction costs).
Therefore, it is proposed to adopt a temporary solution that became an industry standard and best practice, in the form of a multisig gnosis wallet, a well proven and battle tested smart contract based ethereum wallet.
In order to initiate the process, given the preliminary stage, the viable solution proposed is to have 6 signers, each holding 1 signing key with a threshold of 4 signers to execute any transaction.
Additional and substitute signers will be added via DAO proposals to distribute the wallet further, reducing control of any one entity. The goal of the DAO should be to completely distribuite the multisig signer committee.
The gnosis wallet and its signers are committed to execute DAO decisions as-is with no discretion, by following the DAO guidelines, thus serving merely as administrators to guarantee the safety of the wallet for a limited time. The committee and the DAO strive to add more signers and to replace those temporarily held by Blox, and, when technically feasible, move to a fully automated execution.
Mechanics
A Gnosis safe(wallet) was created at address: 0xb35096b074fdb9bBac63E3AdaE0Bbde512B2E6b6
Wallet link
Initial multisig committee:
- Lakshman Sankar (ethereum foundation)
- Bitfly (/beaconcha.in)
- Preston Van Loon (co-founder at Prysmatic labs)
- Thorsten Behrens, a.k.a, Yorick (co-founder at cryptomanufaktur.io)
- Sam Clarkson (Sneaky.vc)
- Blox