KIP-3┃KUMA Emergency Guardians

Summary: This proposal is to approve the intervention of all Multisig Signers in case of emergency situations on every chain where the KUMA Protocol will be deployed.

Context: As the protocol is close to being deployed on Ethereum and brings a major innovation in the ecosystem, it is possible that despite different audits, a minor or major problem could arise in the future.

Currently, the Multisig is a 4/7 composed entirely by Mimo Labs team members.

Rationale: Considering the importance of timing in certain situations, this proposal aims to prepare the DAO for any potential emergency action that might have to be done by allowing any Multisig Signers to initiate transactions from the multisig(s) to stop an emergency situation (and execute it after verification and signatures from others signers).

Tier 1 risk Scope: User funds are at risk Actions: Immediate intervention by pausing the system, then a community discussion 24h vote time for further actions.

Tier 2 risk Scope: Risk on protocol economic activity (eg: Bug that gives the possibility to mint KIBT without paying swap fee, or any economic attack/exploit possible)

Actions: 1-3h feedback emergency on the forum. If the attack happens 24h before the distribution, the reaction should be immediate and follows the same process as Tier-1. The action should be to pause the compromised module only, if possible. A post-mortem is also needed in this case.

Means:

• Human resources: If the proposal is approved, the Multisig signers will have the capacity to intervene in emergency situations.
• Treasury resources: There is no treasury cost.

Technical implementation:

• No technical implementation required

Voting options:

• Accept to let Multisig Signers intervene in emergency situations
• Against letting Multisig Signers intervene in emergency situations
• Abstain

Authors: @starny 1 & @JeanBrasse from Mimo Labs