MIP-1┃DAO Multisig Election 1

Summary:

The goal of this proposal is to elect 4 members that will manage with 4 team members the DAO multisig including treasury, protocol parameters and the blog.

Context:

Mimo can only be decentralized if a single actor doesn’t have the control over any aspect of the protocol. The creation of a DAO multisig is the beginning of this transition.

Rationale:

The DAO multisig will control several functions of the protocol including the treasury, protocol parameters and the blog. The DAO multisig will require 5/8 signatures to execute a transaction.

With 4 team members, the team can’t take control of the protocol. The multisig will be compose by 4 team members:

• Klodio (CEO)
• Bad (CTO)
• Martijn (Developer)
• Jean Brasse (DeFi Strategist)

As we propose to elect 4 members, if you wish to participate please introduce your application in this forum post before 10/05/22, elections will start on the 11th. Members will be elected for a 6 months period.

In order to be able to execute transactions quickly, we propose to set up a time slot each day where transactions can be executed. This will also allow us to avoid requiring the presence of signatories at all hours of the day. We therefore propose an availability period every day between 2pm and 4pm CET.

Any member unable to sign ten proposals in a row will be excluded from the multisig for efficiency purposes.

Means:

As multisig members take risks and time to perform transactions, we propose to compensate multisig members (team will not be compensated) in $MIMO every month with a scale based on the % of signatures made per month:

• 90 + signed: 5,000 $MIMO
• 70 + signed: 3,500 $MIMO
• 50 + signed: 2,500 $MIMO
• 30 + signed: 1,500 $MIMO
• 30 - signed: nothing

The total maximum cost will be 60,000 $MIMO/member/year (240,000 $MIMO/year). The compensation payment per member will be published on the blog every month to keep the maximal transparency on treasury spend.

Technical implementation:

After the elections, the new members will be added to the existing gnosis safe who control the protocol and the gnosis safe will be updated to have 5/8 signatures required to execute a transaction.

Gnosis Safes:

• Ethereum: https://gnosis-safe.io/app/eth:0x25Fc7ffa8f9da3582a36633d04804F0004706F9b/balances
• Polygon: https://gnosis-safe.io/app/matic:0x2046c0416A558C40cb112E5ebB0Ca764c3C5c32a/balances
• Fantom: https://safe.fantom.network/#/safes/0x174162ddecE9d0b7B68fd945e38c3372C4C818ba/balances

Voting Options:

This will be a cumulative vote, where 4 members are selected by the highest vote count and if they pass the 25,000,000 $vMIMO quorum.

• georgeous
• Non0
• arjpet
• Miaki
• Dossy
• Adriennejko
• Beudeuleu
• Lomimo