[SCP - TBD] Treasury Signed Selection Committee and formalizing the signing process.

Proposal Discussion
1

Note: just to press the issues of this proposal, I’ve slightly edited Mperklin’s initial proposal and am looking for feed back once again.

Summary

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.

Background

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.

Abstract

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.

Benefits

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

Drawbacks

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

Vote

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.

2

500k fox (per 2 years?) doesnt seem like much.

3

Overall, this is needed. I will vote for it. Just the compensation/gas coverage should be addressed a bit harder, imo.

4

I think @Giantkin is correct here that the compensation doesn’t seem to align with the time this will take someone.

Maybe the current signers could communicate through some method to the number of hours / month they typically spend on validating and signing transactions and that might help inform the right compensation.

I think this role is crucial to the DAO but I also think that it probably takes significant time and focus. The individuals doing this should be compensated fairly for that time.

5

Thanks for pushing this forward @PTT {:emoji=>{:name=>“pray”, :unicode=>“1f64f”}}

I’d roughly estimate 4 hours/week on average. Some weeks more, some less.

Over the past 18 months, the signers have executed 730 txs on the mainnet safe alone, so about 40 per month. In addition to the time required to create and verify transactions, some of the time is spent coordinating with proposers, workstreams, or committees like TMDC.

I agree 500k FOX seems on the lower side, at least at current the price, when considering the time and skills required as well as the risk associated. That said, i imagine those that would be elected as signers would likely have some additional incentives, such as existing FOX holdings, belief in the mission, and/or other compensated roles, so perhaps 500k is enough.

6

thanks @willy ! and also thanks to @PTT for reinvigorating the conversation.

I think we should include back pay to the previous signers of the exact same amount of whatever the new signers are offered. They performed this duty with no expectation of direct compensation and so far have done amazing job on behalf of the DAO.

7

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