✔️ TDP 35: Q1 Signer Rotation & Offboarding Clause

Simple Summary

It is proposed to rotate a signer in both the TreasuryDAO and the ProtocolDAO.

With this rotation, it is also proposed to add a new offboarding clause that allows the respective multisigs to eject a signer from the group without prior governance approval, should the corresponding vote on the internal Snapshot page of the DAO be unanimously in favour.

Onboarding a new replacement signer will still have to go through governance as before. This is done to be able to act swiftly in case of unexpected adversary behaviour.

Abstract

One of the current core contributors will be ending their term at the end of this month, and currently has an active signer position in both the ProtocolDAO, as well as the TreasuryDAO.

It is suggested to replace the signer who owns the addresses 0x4B37BbC8CAb32aade27Ce8b1bb2A9E614de81E03 & 0xD8baE7d96df905E46718B6ceE3410F535e11bF20 in both groups with a different core contributor.

For the ProtocolDAO, it is suggested to onboard 0xb4dB24A77db4A77242F1e7E6Aa346aeCC440f6Df to the group. This applies to the ProtocolDAO Safe on Ethereum Mainnet as well as on Polygon.

For the TreasuryDAO, it is suggested to onboard 0xB27a7bD98421EB9eAEE522335F45A6F5B65C5C8d to the main signer group and also to the Asset Management subDAO, both in which he will act in the capacity of lead signer moving forward. This applies to the TreasuryDAO Safe on Ethereum Mainnet, as well as the Asset Management subDAO Safe on Ethereum Mainnet and Polygon.

In order to grant the DAO signer groups additional authority during times of urgency and other adverse events, it is also suggested to allow the group to offboard and eject a signer without prior governance approval. This will happen on the internal Snapshot page for the TreasuryDAO and ProtocolDAO.

A unanimous (6/7 signatures for the TreasuryDAO and 7/8 signatures for the ProtocolDAO) vote is required on these platforms before a signer can be removed from the group and a maximum of one signer can be removed at any time from each DAO before another signer needs to be found.

Motivation

In order to keep the signer group up-to-date, we will occasionally rotate signers in and out, and since 0x4B37BbC8CAb32aade27Ce8b1bb2A9E614de81E03 / 0xD8baE7d96df905E46718B6ceE3410F535e11bF20 is ending their term at the end of this month, we will have to find a suitable alternative for both DAOs.

Both candidates have been pre-selected internally based upon activity and trustworthiness, and it is the opinion of the ProtocolDAO and TreasuryDAO that they will serve as a sound replacement.

Specification

1.) Onboard 0xb4dB24A77db4A77242F1e7E6Aa346aeCC440f6Df to the ProtocolDAO Safe on Ethereum Mainnet and Polygon.

2.) Onboard 0xB27a7bD98421EB9eAEE522335F45A6F5B65C5C8d to the TreasuryDAO Safe and the Asset Management subDAO Safe on Ethereum Mainnet and Polygon.

3.) Offboard 0x4B37BbC8CAb32aade27Ce8b1bb2A9E614de81E03 / 0xD8baE7d96df905E46718B6ceE3410F535e11bF20 from all respective Safes on both Ethereum Mainnet and Polygon and ensure that all internal voting tokens are transferred to the replacement signers.

4.) Offboard 0x4B37BbC8CAb32aade27Ce8b1bb2A9E614de81E03 as Fund Manager from staking BPT token contract

5.) Offboard 0x4B37BbC8CAb32aade27Ce8b1bb2A9E614de81E03 from the mstablegovernance.eth Snapshot Whitelist

Next Steps

Pending no significant changes to its content, this proposal will be taken to a Snapshot vote on Monday, the 14th of March 2022 .

Voting will be open for a 5 days window to give adequate time for a concurrent discussion. Governors can change their vote at any time should the discussion sway their decision. We look forward to hearing what MTA token holders have to say and seeing how they cast their votes.

2 Likes

I am fully supportive of these changes. It would be great if the proposed new signers could introduce themselves quickly here for the benefit of those outside the core team.

This looks good to me.

Hey everyone,
Following @soulsby’s smart comment, I’m happy to introduce myself
I’m Théo, core-contributor at mStable, leading growth activities
I’ve been involved multiple times with the Treasury DAO and thought deeply about Treasury Management in general in the mStable Pro ideation.
Happy to take it from @jwpe as a Treasury DAO signer and hope I will be worth the Community’s trust

1 Like

This proposal is now live on Snapshot , and Meta Governors have until this Friday to cast their vote!

This vote has resolved unanimously in favor, and because I’m slightly late with the good news, the proposed changes have already been implemented across both the TreasuryDAO, Asset Management subDAO, Asset Management subDAO on Polygon, as well as the ProtocolDAO and ProtocolDAO on Polygon! :innocent:

2 Likes