IIP-69: Update Funding Council Wallet Signers

Governance Proposal
1

IIP-69
title: Update Funding Council Wallet Signers
status: Proposed
author(s): @dylan @anon10525910 @DarkForestCapital
created: 2021-07-30

Simple Summary

Update signers on the Funding Council Wallet.

Abstract

The Funding Council would like to update the Funding Council multi-sig signer setup in accordance with the Treasury Committee Hand Over Roadmap.

The proposed changes are:

  1. Remove @setoshi & @asoong as signers.
  2. Add @anon10525910 & @darkforestcapital as signers.
  3. Change the number of signers required to execute transactions from 1-of-3 to 2-of-3.

Motivation

As part of the Index Coop’s journey of progressive decentralization, the Funding Council (previously known as Treasury Committee) has been identified as a key resource that needs better representation by non-Set Index Coop contributors. The Funding Council is actively working on this and has produced a roadmap for decentralizing control of the Funding Council Wallet. This IIP is mostly administrative, changing the signers of the Funding Council Wallet to match current Funding Council members, as well as increasing multisig security.

Specification

The proposed changes to the Funding Council Wallet will be executed with the Gnosis Safe UI.

  1. Remove @setoshi & @asoong as signers.
  2. Add @anon10525910 & @darkforestcapital as signers.
  3. Change the number of signers required to execute transactions from 1-of-3 to 2-of-3.

Copyright

Copyright and related rights waived via CC0.

8 Likes
2

Strongly strongly FOR!

4 Likes
3

Hey @Pepperoni_Joe,
Requesting that this IIP be assigned a number and queued up for snapshot voting Monday, August 9th!

1 Like
4

also wanted to add a thank you to @setoshi and @asoong for serving as multi-sig signers for this early phase of the coop’s growth!

3 Likes
5

Just to clarify - There will only be 3 signers on this wallet and they are @dylan, @DarkForestCapital, and @anon10525910?

If my understanding is correct, I am strongly in favor.

2 Likes
6

Want to emphasize that this is the Funding Council Wallet (previously known as the Treasury Committee Wallet). This is the wallet that’s funded via quarterly grant IIPS, and is used to disburse monthly contributor rewards, fund working group wallets, etc…

The Index Coop Treasury Multisg (which holds all vesting INDEX tokens, streaming fees etc…) has a different, much more secure signer setup. That is also slated for a community hand off, but will be a much slower process. That wallet is responsible for all upgrades to Index Coop products, adding/removing modules, updating manager contracts etc…

6 Likes
7

Thanks for the clarification @dylan! Supportive of this change and thankful for the previous signers for serving in this capacity.

Also supportive of the slow handoff of the main multisig, and hope rigorous audits of any new signer’s OPSEC and setup is done prior, given the value it protects.

3 Likes
8

@anon10525910, @DarkForestCapital and @dylan confirming that IIP-69 is now live.

https://snapshot.org/#/index-coop.eth/proposal/QmY3C7qUtdm14ZCivHzRWDzw3UduUgxKmQdJ9iTe4ewCXX

9

Confirming this IIP has passed.

2 Likes