Status: Proposed Authors: Elliott Watts (@Elliottwatts) PrairieFI (@Prairiefi), Matthew Graham (@Matthew_Graham) Created: 22nd September 2021 Discussion to: https://gov.indexcoop.com/t/iip-90-removal-of-funding-council-wallet-and-hive-up-into-the-operations-account/2736 Quorum: 109,069 [2,181,385*0.05]

Simple summary

The First Index 2.0 workshop was for the Finance of the Future. This detailed to the community the current working remits of the TWG, POC, and the Funding Council. The workshop intended to walk the community through the roles and responsibilities of the various working groups along with creating a community plan for the finance of the future. One underlying theme was the need to dissolve the FC wallet and instead utilize the operations account and combine the Treasury WG and Funding Council into one working group coupled with developing a separate ‘Leadership Council’ of elected community members. This post is the first in a series of Index 2.0 posts that implement the wishes of the community following the workshop.

Abstract

During the workshop, the community identified an overlap between the Funding Council and the function of the Treasury working group. It was seen that the FC was more of an administrative function which is responsible for the distribution of working group proposals and performing budget reviews. It was widely accepted during the workshop that the FC should be dissolved and its function absorbed by the TWG and operations multi-sig. See the summary below of the common themes from the breakout session. Note items in orange required further discussion but items in yellow represent items agreed upon. As can be seen below the function of the funding council has been merged with the TWG. (Note this is a screenshot from the first workshop, a further post coming next week will outline the outcome from workshop two and also a roadmap forward)

Motivation

Executing the wishes of the community following the Finance of the future discussion as part of the Index 2.0 workshop series.

Specification

In line with the wishes of the community, we set out to dissolve the FC wallet and hive the transactions and responsibilities for processing the transactions into the Operation account in line with the signatories designated on the update the operations account multi-sig post. This would require signers to transfer funds currently within the FC multi-sig to the Operations account and to then remove the multi-sig. This would take place on a day chosen by the FC team and the signers on the multi-sig account once the proposal is voted upon. Given the timing of this proposal, we would expect that the next round of WG funding is to be overseen by the FC with the transition from the FC Multi-sig to the operations account happening once this round is finalized, we would expect this to be from 1st November onwards. This is in line with IIP-85 Temporary Funding Council Decision Making. Allowing minimal delay to working group funding for the next quarter. This will allow for a well-executed transfer of responsibility that does not adversely affect the DAO.

The hive-up of the FC wallet into the Operations account will create efficiencies within the account structure and provide one account which will be responsible for all operational expenses and distribution. The Signers of the operations multi-sig are detailed below (note this is subject to the approval of the update to the operations multi-sig IIP)

Location	Roles	Operations Account
APAC	APAC Business Development	pujimak_in
APAC	Product	cavalier_eth
United Kingdom	Funding Council	Pepperoni_Joe
United Kingdom	Growth	MrMadila
United Kingdom	Treasury Work Group Lead	Matthew_Graham
USA	Funding Council	dylan
USA	Metagovernance	oneski22
USA	Operations Account Manager	prairiefi

Voting

FOR:

Remove the FC multi-sig and hive this up into the Operations account after the next round of working group funding.

AGAINST:

DO NOT change the current structure and retain the FC multi-sig

Copyright

Copyright and related rights waived via CC0.