IIP-151: Update Operations Account Multisig

Finance
1

IIP: 151
Title: Update Operations Account Multi-sig
Status: Proposed
Author(s): @Finance.Nest - @Matthew_Graham and @ElliottWatts
Gov Review: @asira
Created: 20th April 2022

Simple Summary

This proposal seeks to modify the signers on the Operational Accounts across the Coop.

Ethereum: Operations Account: 0xFafd604d1CC8b6B3B6CC859cF80Fd902972371C1
Ethereum: Operations POL Account: 0x3a36b94689f303aAf9BFE761068Efb8F78912023
Polygon: Operations Account: 0xDECC5b013C74d8d3cEf1F8918768DDa17490B505
Optimism: Operations POL Account 0xA047F6900FeE0b6195088a49009eA65365f7DD68

Abstract

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

In this proposal we consider replacing @dylan with @anthonyb.eth, @ncitron with @TheYoungCrews and @Pepperoni_Joe with @bradwmorris. This increases in-house Product coverage on the Operations Accounts which are being increasingly used to support Protocol Owned Liquidity (POL).

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.

Recently Finance Nest and Liquidity Pod agreed to create a second Ethereum Operational Account, this wallet is to support POL much like the Polygon and Optimism wallets. With the inclusion of Anthonyb.eth, the Liquidity Pod will have 5 members as signers on the Operations Account. This provides flexibility but also concentration of Product Nest and Finance Nest within the wallet.

Adding these two members will enable the process owners (liquidity pod) to be fully accountable 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. Similar can be said for Finance Nest which broadly oversees the Coops finances ranging from third party payments, contributor rewards to Seasonal funding requests.

We have shared this proposal on the forum to enable discussion to occur and for viable alternatives to be presented.

Specification

Modify the above linked Gnosis Safe:

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 Product Nest Anthony
United Kingdom Product Nest Afromac
APAC Product Nest Sid
United Kingdom Product Nest MrMadila
United States America Governance Nest Oneski22
APAC Community Nest Bradwmorris
United States America Growth Nest Theyoungcrews
United Kingdom Community Nest Hammad
United Kingdom Finance Nest Matthew_Graham
United Kingdom Finance Nest Elliott
United States America Operations Account Manager prairiefi
Nest coverage % coverage
Finance Nest 27.27%
Community Nest 18.18%
Product Nest 36.37%
Growth Nest 9.09%
Governance Nest 9.09%

Voting

FOR:

DO Add @bradwmorris , @anthonyb.eth and @theyoungcrews

AGAINST:

DO NOT change the existing arrangement.

Copyright

Copyright and related rights waived via CC0.

6 Likes
2

@GovNest can we please queue this up for a vote to go live on 25th April 6PM UTC.

Thanks

1 Like
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Hey @ElliottWatts, an IIP number (151) has been assigned to this proposal, thus beginning the 48 hour formal discussion period for this IIP. A GovRep (@asira) has been assigned to review and run this proposal through the IIP Process.

The vote will be queued before the 25th April 2022 as requested.

For reference, an overview of the IIP Process can be found here, and guidelines for the usage of the GovNest account can be found here.

4

For clarity noting that @oneski22 is not an active contributor directly within GovNest, currently, but I don’t find that point to be a blocker to this proposed IIP and will be voting FOR.

1 Like
5

@GovNest I’ve received the request to review IIP number 151 and have started the review process. I intend to queue the snapshot vote for a starting date of the 25th April 2022 at 6 PM UTC. The snapshot link will be shared here in a subsequent reply.

IIP-151 is in the formal discussion stage, and any feedback and discussion should be provided within the 48-hour discussion period.

2 Likes
7

if it would be preferred @Finance due to the complicated status, you can list 3SE Holdings (the actual signing entity) as “Independent”.

1 Like
8

IIP-151 has been queued on Snapshot and will go live on 25th April 2022 at 6 PM UTC.

1 Like
9

IIP-151 has been approved by the community with a total 181,000 INDEX (100%) voting for the proposal.

4 Likes