This proposal establishes the Treasury Signer Selection Committee which will be responsible for vetting and appointing new Treasury Signers for the ShapeShift DAO.
It also establishes the Treasury Signer role as a full-time paid role of the ShapeShift DAO with a formal job description, duties, standards of conduct, and compensation.
The ShapeShift DAO has control of millions of dollars of funds that it uses to further its mission of building and maintaining the easiest-to-use decentralized interface for blockchains. To sustain the DAO’s activity, including compensating the hundreds of active users who contribute to the DAO and to reimburse their expenses on behalf of the DAO, the DAO treasury must regularly create, sign, and broadcast blockchain transactions. Treasury Signers fulfill this function on behalf of the DAO.
When the ShapeShift DAO was formed, ShapeShift AG appointed an initial set of Treasury Signers to manage its treasury, however, no process was established for what happens when a signer retires, or for appointing new signers to the set.
The ShapeShift DAO needs to ensure there are sufficient Treasury Signers (TSes) to protect the ShapeShift DAO Treasury. This can be accomplished by delegating this responsibility to a new committee — the Treasury Signer Selection Committee. This committee will appoint individuals who will fulfill the Treasury Signer role for the DAO. The Treasury Signer role will be compensated with 500,000 FOX tokens which shall be issued via a two-year Sablier stream established at the time of the TS’s appointment.
A formal Job Description of the Treasury Signer role is maintained on the ShapeShift DAO Notion site.
Treasury Signer Selection Committee (TSSC)
The TSSC is responsible for ensuring there are enough Treasury Signers appointed to manage the ShapeShift DAO Treasury. If there is not, the TSSC is responsible for researching and vetting candidates in private and appointing new TSes to ensure the business continuity of ShapeShift DAO treasury operations. To minimize the security impact to both the ShapeShift DAO and the Treasury Signers, the identities of Treasury Signers will not be disclosed to the DAO or to the public, and will only be disclosed to members of the TSSC.
The TSSC shall be comprised of current workstream leaders of any ShapeShift DAO workstream, provided that the workstream leader has fulfilled their leadership duties for at least eight (8) months.
While it is recommended that no fewer than two (2) and no more than five (5) Treasury Signers be appointed at any given time, the TSSC shall be granted full authority to appoint or dismiss TSes at their discretion to ensure the smooth operation and security of the ShapeShift Treasury.
This will also include a previous Sablier stream for those who have been signers for the DAO for the previous 18 months to the tune of 750,000 FOX per signer for the time they have committed to doing so, so far.
The benefits of formalizing this position and offering fair compensation include:
Ensuring there is a process for the continuity of treasury operations for the ShapeShift DAO
Ensuring the role is properly defined so that there is clarity on TS duties
Ensuring the role is properly compensated so that candidates are incentivized to apply, and existing Treasury Signers have incentives to continue in their role.
Ensuring there is a process for vetting candidates without divulging their identity to the public
There is a cost to the DAO to fund these appointments
The DAO does not have full visibility into the selection process, so they will have no choice but to trust the TSSC members to make good decisions on behalf of the DAO
A vote of Yes will establish the Treasury Signer Selection Committee as defined above, and formalize the Treasury Signer role as a full-time paid role of the ShapeShift DAO with 500,000 FOX compensation issued via a Sablier stream over two (2) years.
A vote of No will do nothing.