This proposal is expected to appear on Snapshot for voting on Sunday, May 5, 2022 at 12:00 pm UTC.
Voting instructions
To support the proposed Bancor DAO Multisig, vote FOR
To oppose the proposed Bancor DAO Multisig, vote AGAINST
TL;DR
- The Bancor DAO has long been one of the most active DAOs in the space with multiple proposals typically going to snapshot per week.
- The Bancor DAO is proposed to govern all aspects of Bancor V3
- Once the vote on Snapshot is complete, it is up to the Bancor DAO MSIG to execute whatever was decided by the Bancor DAO.
- This proposal seeks to formalize the Bancor DAO MSIG, select the signatories and define expectations of the signatory.
- Due to the complex nature of the launch of V3, this proposal is not likely to be implemented immediately if passed.
Gnosis Safe Address, Rules and Rights
Gnosis Safe 1: General Purpose 0x7E3692A6D8c34a762079Fa9057AeD87be7e67cb8
Gnosis Safe 2: Pause Function 0xc140c1CD2e587fC04DAa780d49b616F768476660
Current rule:
5/7 must sign for a transaction to be executed.
Powers of then Bancor DAO MSIG:
- The Bancor DAO MSIG governs all aspects of Bancor V3 and is responsible for the execution of decisions that are made by the Bancor DAO.
- In emergency situations, the Bancor DAO MSIG can call the “pause” function which will pause the entire protocol. As long as the “pause” is ongoing, no deposits, withdrawals or transactions can be made until the protocol is “unpaused”. This would likely be called by the Gnosis safe 2 wallet.
Proposed Signatories:
- The Bancor DAO MSIG has seven signatories and requires five signatories to sign and send transactions (5 out of 7).
- As set forth below, four signatories are proposed by other crypto projects. The remaining three signatories are proposed by the Bancor Foundation. The names of the seven proposed signatories are not disclosed for security reasons.
- The Bancor Foundation will have no further role in changing the composition or proposing any changes to the Bancor DAO MSIG.
Proposed Signatories:
Future Changes:
- Future changes to the Bancor DAO MSIG must be approved by the Bancor DAO and can only be executed by the Bancor DAO MSIG.
Expectation
- Have Bancor’s best interest at heart
- Faithfully execute the will of the Bancor DAO as expressed by their votes.
- Be available to sign a tx when needed based on the following flow:
- Bancor DAO votes
- Bancor DAO MSIG performs the will of the voters
FOR
Approve this as the official Bancor DAO MSIG
AGAINST
Reject this as the official Bancor DAO MSIG
