# IIP-151: Update Operations Account Multisig
**URL:** https://gov.indexcoop.com/t/iip-151-update-operations-account-multisig/4183
**Category:** Finance
**Tags:** IIP
**Created:** [20 April 2022 21:06 UTC](https://gov.indexcoop.com/t/iip-151-update-operations-account-multisig/4183 "2022-04-20T21:06:12Z")
**Posts on this page:** 8
**Page:** 1
### Author:  [@Finance](https://gov.indexcoop.com/u/Finance)
#### Post date: [20 April 2022 21:06 UTC](https://gov.indexcoop.com/t/iip-151-update-operations-account-multisig/4183/1 "2022-04-20T21:06:12Z")
* * *
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](https://gov.indexcoop.com/t/iip-46-security-operations-investment-account/1566) and updated as shown below:
- [IIP-46: Security - Operations & Investment Account](https://gov.indexcoop.com/t/iip-46-security-operations-investment-account/1566)
- [IIP-54: BED:ETH Liquidity](https://gov.indexcoop.com/t/iip-54-bed-eth-liquidity-direct-provision-by-index-coop/1907)
- [IIP-88: Update the Operations Account Multisig](https://gov.indexcoop.com/t/iip-88-update-operations-account-multi-sig/2676)
- [IIP-99: Update the Operations Account Multisig](https://gov.indexcoop.com/t/iip-99-update-operations-account-multi-sig-2/3044)
- [IIP-131: Update the Operations Account Multisig](https://gov.indexcoop.com/t/iip-131-update-operations-account-multi-sig-liquidity-pod/3825)
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](https://gov.indexcoop.com/t/iip-125-liquidity-pod-funding-request-h1-2022/3681).
# 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:
- Add @anthonyb.eth (Product Nest)
- Add @bradwmorris (Community)
- Add @theyoungcrews (Growth)
- Remove @dylan
- Remove @Pepperoni_Joe
- Remove @ncitron
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](https://creativecommons.org/publicdomain/zero/1.0/).
---
### Author:  [@ElliottWatts](https://gov.indexcoop.com/u/ElliottWatts)
#### Post date: [20 April 2022 21:15 UTC](https://gov.indexcoop.com/t/iip-151-update-operations-account-multisig/4183/2 "2022-04-20T21:15:58Z")
@GovNest can we please queue this up for a vote to go live on **25th April 6PM UTC**.
Thanks
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### Author:  [@GovNest](https://gov.indexcoop.com/u/GovNest)
#### Post date: [21 April 2022 10:55 UTC](https://gov.indexcoop.com/t/iip-151-update-operations-account-multisig/4183/3 "2022-04-21T10:55:19Z")
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](https://docs.indexcoop.com/governance/index-improvement-proposals-iips), and guidelines for the usage of the GovNest account can be found [here](https://gov.indexcoop.com/t/governance-requests-govnest-account-guidelines/4034).
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### Author:  [@mel.eth](https://gov.indexcoop.com/u/mel.eth)
#### Post date: [21 April 2022 11:48 UTC](https://gov.indexcoop.com/t/iip-151-update-operations-account-multisig/4183/4 "2022-04-21T11:48:45Z")
For clarity noting that @oneski22 is not an active contributor directly within GovNest, [currently](https://gov.indexcoop.com/t/governance-nest-proposal-season-1-2022/3873/2), but I don’t find that point to be a blocker to this proposed IIP and will be voting FOR.
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### Author:  [@asira](https://gov.indexcoop.com/u/asira)
#### Post date: [21 April 2022 15:29 UTC](https://gov.indexcoop.com/t/iip-151-update-operations-account-multisig/4183/5 "2022-04-21T15:29:30Z")
@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.
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### Author:  [@oneski22](https://gov.indexcoop.com/u/oneski22)
#### Post date: [22 April 2022 00:26 UTC](https://gov.indexcoop.com/t/iip-151-update-operations-account-multisig/4183/7 "2022-04-22T00:26:46Z")
if it would be preferred @Finance due to the complicated status, you can list 3SE Holdings (the actual signing entity) as “Independent”.
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### Author:  [@asira](https://gov.indexcoop.com/u/asira)
#### Post date: [24 April 2022 02:15 UTC](https://gov.indexcoop.com/t/iip-151-update-operations-account-multisig/4183/8 "2022-04-24T02:15:59Z")
IIP-151 has been queued on [Snapshot](https://snapshot.org/#/index-coop.eth/proposal/0x2f9bf0a198bebaeb14cef421d5c724d6622b637d58dfae545e7dbf70eb716885) and will go live on 25th April 2022 at 6 PM UTC.
---
### Author:  [@asira](https://gov.indexcoop.com/u/asira)
#### Post date: [27 April 2022 20:55 UTC](https://gov.indexcoop.com/t/iip-151-update-operations-account-multisig/4183/9 "2022-04-27T20:55:52Z")
IIP-151 has been approved by the community with a total 181,000 INDEX (100%) voting for the proposal.