IIP-131: Update Operations Account Multi-sig - Liquidity Pod

Finance Treasury
1

IIP-131: Update Operations Account Multi-sig

status: Proposed

author: @ElliottWatts

Reviewers: @MrMadila @sidhemraj @afromac

created: 2022-02-07

Simple Summary

This proposal seeks to modify the signers on the Operations Account Gnosis Safe.

Operations Account: ‘0xFafd604d1CC8b6B3B6CC859cF80Fd902972371C1’

Abstract

The Operations Account multisig was created with IIP-46: Security - Operations & Investment Account and updated as shown below:

In this proposal Finance Nest recommends adding Cormac and Sid, as both members of the liquidity pod and also members of the Product Nest this allows for better nest coverage and also provides the ability for the liquidity pod to manage the liquidity positions within the operations account. The ops account will be used going forward as the primary account to deploy protocol-owned liquidity as outlined here.

Motivation

The Operations Account holds and receives the communities most liquid funds, it also has the backing of Finance Nest who have expertise in asset management and are responsible for the sustainability of the Index Coop spend. The account accrues all product revenue and holds the Nest budgets for Season 1, allowing for a diverse range of assets that can be utilised. Finance Nest as part of IIP-123 has the autonomy to request and approve funding requests from the main treasury account and the ability to actively manage the Index Coop revenue/asset mix. The operations account sets the standard for security across the DAO having a perfect track record over the last 6 months. For changes to multisig signers we at Finance Nest, we believe it is important to have the community awareness and support via IIP regarding changes.

Adding these two members will enable the process owners (liquidity pod) to be fully accountable for the entire length of the process from interacting with the community all the way through to distribution of funds into the pools. The intent is to streamline operations and align accountability with process ownership.

Specification

Modify the above linked Gnosis Safe:

In this proposal Finance Nest recommends adding Cormac and Sid, as both members of the liquidity pod and also members of the Product Nest this allows for better nest coverage and also provides the ability for the liquidity pod to manage the liquidity positions within the operations account. The ops account will be used going forward as the primary account to deploy protocol-owned liquidity as outlined here.

The wallet will still only require 3 signers to approve a transaction, 3 of 11.

The new signer structure will be:

Location Roles Operations Account
United States America Set dylan
United Kingdom Community Nest PepperoniJoe
United Kingdom Finance Nest @Matthew_Graham
United Kingdom Finance Nest @Elliott
United Kingdom Finance Nest & Community Nest @Hammad
United States America Operations Account Manager prairiefi
United States America Governance Nest oneski22
United States America Product Nest ncitron
United Kingdom Growth Nest @MrMadila
United Kingdom Product Nest @afromac
APAC Product Nest @Sidhemraj
Nest coverage % coverage
Finance Nest 30%
Community Nest 20%
Product Nest 30%
Growth Nest 10%
Governance Nest 10%

Voting

0 voters

Copyright

Copyright and related rights waived via CC0.

3 Likes
2

Can we queue this for snapshot on Monday pls @sixtykeys @mel.eth

1 Like
3

Hey @ElliottWatts , an IIP number (131) has been assigned, and a snapshot vote has been queued for 14th February 2022, 1800 UTC.
Snapshot here

1 Like
4

Confirming that this IIP has passed with 262k INDEX (100%) voting FOR :white_check_mark:

2 Likes
5

Finally, it is ready. If you voted, please go back to snapshot and mint your POAPIIP-131

6

Just to confirm, this is done. The add/remove user transactions were completed by March 1 for Ethereum Operations Account, and March 9 for Polygon Operations Account.
Ethereum Account: Nonce 179, 182, 183, 184
Polygon Account: Nonce 94, 95, 96, 98

3 Likes