Moonwell Security Council - Initial Roster Ratification

I would like to propose the establishment of a new Moonwell Security Council and the ratification of its initial roster.

The ratification of the Moonwell Security Council is a timely and essential step forward as we embark on an exciting new chapter in Moonwell’s journey. The recent launch of the Moonwell Foundation marks a significant milestone in our path towards continued decentralization and long-term sustainability, empowering our community to drive further innovation and growth. As we continue to welcome new users, DAO members, contributors, and partners, it is crucial that we have a dedicated group of trusted individuals and entities to oversee the security and integrity of the Moonwell Apollo Protocol, Moonwell Apollo DAO, and Moonwell Foundation.

The Moonwell Security Council will serve as a unified group of signatories across various mission-critical, security-focused multisigs, such as the Governance Guardians and Pause Guardians. In addition to their Guardianship responsibilities, the Security Council will also play a vital role in reviewing and approving grant proposals submitted to the Moonwell Foundation, ensuring that projects seeking grant funding align with the Moonwell Apollo community’s objectives and contribute to the growth and security of the ecosystem.

By ratifying a single, trusted group of entities and individuals to serve on the Moonwell Security Council, we can strengthen our security posture, bolster incident response time, and ensure that Moonwell Apollo operates with the highest standards of security, integrity, and transparency.

Summary

The initial Moonwell Security Council roster will play a critical role in safeguarding the Moonwell Apollo Protocol and its associated entities. The council will have the authority to take emergency actions to mitigate potential security threats and ensure smooth operations.

Implementation

Currently, the below Guardian roles exist, each with their own specific powers and sets of signatories.

1. Pause Guardian: Enables signers to pause specific functionality of the Moonwell Apollo Protocol.

• The functions that can be paused by the Pause Guardian role include Mint, Borrow, Transfer, and Liquidate. These can be toggled to the paused and unpaused state by the pause guardian at any time.
• Only through the MIP Process can these functions be reenabled.
• In the case of an active or potentially imminent security threat, these functions may be paused in order to mitigate any potential loss of funds or bad debt accrual.

2. Governance Guardian (Break Glass Guardian): Enables signers to return governance back to the governanceReturnGuardian address defined in the Moonwell Apollo Governor contract.

• The initial Break Glass Guardian multisig signers were ratified by the community through a Snapshot vote before onchain governance was activated on Moonriver.
• This role will be known as the Governance Guardian role going forward.
• Only through the MIP Process can ownership be transferred back to the multichain governor contract.

If this proposal is ratified, the following entities and individuals will serve on the inaugural Security Council. Security Council members will be added to the above Guardian roles and current signatories not serving on the Security Council will be rotated off:

1. Gauntlet
2. Elliot Friedman (Solidity Labs)
3. Luke Youngblood (Lunar Labs)
4. X0s0l
5. Coolhorsegirl

The newly appointed Security Council members will assume their roles immediately, and their signing authority will be extended across all Governance and Pause Guardian roles. Those individuals not on the Council will be rotated off. Further information regarding the Moonwell Security Council can be found in the Moonwell Apollo DAO Constitution.

Future Makeup

The initial members will serve a 12-month term, after which an open election will be held annually to elect new Security Council members as per the Moonwell Foundation Bylaws.

Voting Options

• Yes: Approve the initial Moonwell Security Council roster as proposed.
• No: Reject the proposal and maintain the current configuration.

Conclusion

The establishment and ratification of the Moonwell Security Council are essential for the long-term security, resilience, and governance of the Moonwell Apollo ecosystem.