SummaryOver the past 2 years of Sushi, there have been various individuals on the multisig. Currently some of the users on the Multisig have become busy with other projects, or no longer have the bandwidth or interest to contribute.
MotivationAs the signing and execution of the multisig is absolutely crucial to the DAO, it is proposed to replace others with new signers who can be actively engaged.
SpecificationThe following is the list of the signers proposed to sit on the Multisig. They are all actively involved in the crypto and Web3 space.
0xSami - Founder of Redacted Carte. Currently on multisigs for several projects including Butterfly, New Order, Olympus, and Aura, and Esketit.
Nick Rishwain - Building and launching on-chain real estate protocol, operator in legal technology Web2 space.
Maki - Previous Head Chef at Sushi. Contributor at LayerZero, Stargate, and Aura.
Tom Lombardi - Adjunct professor at Pepperdine University teaching Decentralized Finance. Former Managing Director 3iQ ($700m AUM crypto ETFs) | Former Director at Wave Financial ($1bn AUM crypto treasury management) | Investment banking at BankofAmerica
DeFiTed - Founder and lead on ParagonsDAO, prev RULER and COVER (wound down and returned funds to token holders), PleasrDAO founder and founder of the Crypto Safe Space Mental health discord
As being a multisig signer does require due diligence, efforts, and time, it is proposed that signers should be compensated for their efforts. It is also proposed that all new wallets will be funded with a small amount of ETH (0.2 ETH) in order to have the wallets ready to sign once they are added.
---- NEW EDITS, OCT 6, 2022 ----
An ongoing list of members can be formulated in an additional proposal to have a running queue of signers who are interested in joining the Multisig in the event that others wish to step off. To select additional signers, a poll can be created in a proposal to select the signers before going to Snapshot. The running list of signers can be tallied in a Forum post that can be created after the Multisig Snapshot has completed.
Signers will have a review period, where the activity of each signer will be gauged, to see if they are still active, engaged, or interested in remaining on the Multisig. Even in the event that they did not sign, being active and reviewing transactions should be enough for them to remain in good standing. The goal here is to avoid having passive signers, and to ensure the integrity of each transaction to be signed.
Should any Multisig signer, for any of the proposed reasons above no longer remain on the Multisig, the remaining signers can petition the community in a Forum post, where they can state who will no longer be on the multisig, and propose the reasons why. This Forum post should remain active for 1 week, and every effort should be made from those who are not to continue on the multisig to address their resignation to the community in the post, or if unresponsive due to lack of activity, an attempt to make contact through reasonable mediums needs to be made to ensure they have time to respond before removing them. A Poll will be created in the Forum post for the replacement(s) from the queue of additional signers interested in joining. After a successful poll, the highest in favour can go to a Snapshot vote, where the new signer can then be brought on to the Multisig.
After feedback from the Forum calls, it is also proposed to increase the compensation to 10,000 USDC Annually streamed through Furo to each signer. Streams to be started and managed by Sushi Operations for simplicity and coordination.
TL;DR on the edits made Oct 6, 2022:
- Have an ongoing list of potential Multisig signers in a queue
- Added a review process of 3 months for signers activity and engagement
- Added in a process for off-boarding signers and onboarding new ones
- Proposing there be a range for compensation
TL;DR on the edits made Oct 27, 2022:
After discussions with the community on how to manage a fluctuating USD amount in SUSHI tokens, it would be challenging to maintain and monitor this, plus introduces point where there may need to be more or less SUSHI added, or the stream would need to stop all together, thus presenting incentive issues.
Proposing a 10,000 USDC stream through Furo for each signer.
These streams are to be started and managed by Sushi Operations for simplicity and coordination.
- Update to this new list
- No thank you
- IDK - Abstain
- 2,500 SUSHI
- 5,000 SUSHI
- 7,500 SUSHI
- 10,000 SUSHI