Overview

This proposal, PIP-25, aims to update the access control for the Panther Protocol’s governance structure to enhance security and efficiency. The goal is to align governance mechanisms with the protocol’s current needs while introducing measures to strengthen oversight and protect user funds.

Purpose

The purpose of this proposal is to transition the governance structure to a streamlined model, improve the security of the DAO Multisig, and introduce a new emergency mechanism to safeguard the protocol. This involves updating the DAO Multisig configuration, optimizing the operation of the Reality.eth module, and establishing a dedicated emergency stop mechanism.

Additionally, in alignment with the intent of PIP-24, and following the Foundation’s decision to withhold the compliance grant due to a divergence in preferred candidates, the DAO will now proceed to fund the Compliance Officer role directly.
To ensure the continued integrity and regulatory alignment of Panther’s operations, a stipend of 3.2 million ZKP shall be minted from the rewards pool and transferred to the DAO Multisig wallet. This enables the DAO to transparently and independently manage disbursement in line with its governance decisions.

Proposed Changes

1. Snapshot Admin Control Over Reality.eth Module

Enable the Snapshot Admin (via the Snapshot Admin Multisig) to toggle the Reality.eth module on the DAO Multisig, activating it only during active voting periods and disabling it otherwise.
This reduces the time window during which the Reality.eth module requires close monitoring to prevent unauthorized or fake voting proposals.

The following wallet addresses will be added as admins to the Snapshot Admin Multisig to manage this functionality:

• eth:0x09E43Cf49d8bCee4256BEe50A9b1652556a597cb (@ToXiC_eHC)
• eth:0xe661154ae8a02B6bBD3f7F7D55CEd0D86D99FDa1 (@Praetorian)

2. Creation of Emergency Stop Committee

Establish a new Emergency Stop Committee with elected members who operate a dedicated multisig.
This multisig will have the sole authority to execute a single type of transaction: halting all protocol operations in case of an emergency to protect user funds deposited in the protocol.
The DAO can vote via a future PIP to resume operations once the emergency is resolved.
Additionally, the committee may enable the Reality.eth module as a backup measure if the Snapshot Admins are unable to do so.

The committee will include:

• Elysium: eth:0x1b18Fad5D149AdDd747Aa523e0AB188cb7b80765
• PureFi: eth:0xbdc9cf6c40278011fdf2735898bef05d0eca596f
• Zerolith: eth:0xeF5795C6a59549100afBFDC209BE63ED85E6a402

3. Removal of Veto Council from DAO Multisig

After implementing the above measures, remove the Veto Council from the signers of the DAO Multisig, transitioning governance control to the Reality.eth module and the Emergency Stop Committee.

4. Minting of ZKP to Pay Compliance Officer

To ensure the continued integrity and regulatory alignment of Panther’s operations, a stipend of 3.2 million ZKP shall be minted from the rewards pool and transferred to the DAO Multisig wallet.
This enables the DAO to transparently and independently manage disbursement in line with its governance decisions.