Title: Update Meta Governance Multisig Signers
Author: @GovNest & MetaGovernance Committee
Created: 8th February 2022
This proposal seeks to update the signers for the Meta Governance Gnosis Safe wallet by adding new signers from the community, to be able to execute votes for Aave, COMP, and UNI.
Wallet Address: 0xf63Ec662753B88c3634AE276ba4eA28D681478C8
The Meta Governance Multisig was created to delegate the voting power for Aave, Compound and Uniswap to a group of Index community members (see IIP-45). With the introduction of the Meta Governance Committee, access to the Multi-sig was transferred over to the MGC via IIP-81.
With this proposal, we’d like to update IIP-81, by adding three new community / MGC members as signers, and thus moving from a 3-of-5 to a 3-of-7 setting. In addition, this IIP shall also ensure that future MGC members can be added as signers without the need for an IIP (i.e. they are swapped with the person leaving the MGC).
In practice, the MGC has operated a 3-of-4 Multi-sig for the past months. This is not ideal, as the signers need to be available basically all the time. This led to some votes not being executed, because not all signers were available within the 24hrs time span the group usually has to execute these votes. Hence, the team is convinced that moving to a 3-of-7 system and adding more signers is the best solution to improve the current situation and increase reliability of vote execution.
The GovNest has taken over most operational tasks with regards to governance processes since its inception. And within the Nest formation process, the team has declared a 100% vote execution rate as one of their key objectives. However, as of today, GovOps cannot influence this metric. Hence, the GovOps team is perfectly suited to become part of the signers. Further, we believe that expanding the group of signers outside the MGC, should only be going to trusted and long serving community members.
In addition, automatically swapping signers makes the process more efficient and reduces the need for IIPs. We believe that a person elected for the committee has earned the community’s trust and should be eligible to be a signer.
[Note]: Being a signer on the MetaGov Multi-sig bears no financial risk, but only grants access to queue and execute votes.
Adding the following signers to the existing MetaGov Gnosis Safe Multi-sig:
|@sixtykeys||Lead GovOps Pod||sixtykeys.eth|
The MetaGov Gnosis Safe will then have the following signers:
Going forward, this IIP will also enable swapping signers with their election to the MGC. Thus, future members of the MGC can be added as signers to the MGC multi-sig, without the need for an extra IIP. This will take place in agreement with that person, i.e. they can decline to become a signer. Every signer can always be removed via IIP.
DO add the three signers listed above to the MetaGov Multi-sig and enable future MGC members to automatically replace previous members as signers.
DO NOT change the existing arrangement.
Copyright and related rights waived via CC0.