Summary:
Approve the Operations Workstream with the creation, control, and oversight of a new multi-sig wallet created for receiving payments for the new exchange api.
Abstract:
With the focus of Engineering and Product turning to to the new exchange api service, the DAO will need to be able to receive payments for tiered usage of the api. Consumers will be able to pay the DAO in crypto for their usage. It is not ideal to have all of these payments be made directly to the treasury. A 2 of 3 multi-sig controlled by Operations would allow the DAO to receive funds across multiple chains and to periodically send collected funds to the treasury at appropriate intervals.
Motivation:
Specification:
This proposal seeks community support in authorizing Operations to generate a multi-sig ETH address via Gnosis Safe that will be a 2 of 3 multi sig wallet, of which the signers will be @Tyler | ShapeShift , @Tshifty, and @MBMaria. This wallet will be ETH based for now but should be updated and optimized for multi currency payments for the exchange api services. This new address would be an addendum to the current DAO multi-sig addresses that can be found here: https://forum.shapeshift.com/thread/dao-treasuries-and-multisigs-43646
Additional responsibilities bestowed to the multi-sig signers of this proposal:
Authority to create and manage these ⅔ safes on any chain on which the API generates revenues. Authority to convert earned revenues into stablecoins before sending assets to the Treasury address. Authority to transfer a percentage of revenues generated from an integration to the corresponding integration partner (%s and tools for measuring consumption TBD) Authority to transfer balances from the multi-sig to the treasury monthly, or if any muti-sig balance exceeds $10k USD value Budget:
No budget increases are being asked for with this proposal, If passed, the administration of this multi-sig will become another responsibility of the Operations Workstream.
Drawbacks:
Introduces an additional address to the DAO’s growing list of public addresses/multi-sigs. Requires continued trust in the Operations Workstream being good actors with DAO funds.
Benefits:
Allows a separate address for exchange api payments that can be transferred to the DAO and removes complication of all payments being sent directly to the main treasury address.