PIP-41.1 - Post-Trial Period Considerations - Next Steps for the Governance Committee

PIP-41.1 - Post-Trial Period Considerations - Next Steps for the Governance Committee

Abstract

During the original implementation period of the PSP 2.0 proposal, a 6-epoch pilot was implemented to ensure the effectiveness of the proposed plans, and along with it the introduction of the Governance Committee (GovCo).

With this pilot period soon coming to an end, this proposal aims to reflect on the performance of PSP 2.0 and proposes what the future duties of the Governance Committee can be.

The following vote concerns only the first section of PIP-41, with the second one regarding token allowlists being voted on at a later date.

Means

During the first six months of PSP 2.0, GovCo proved to be effective and to act fast in emergencies. PSP-EPΔ03 and PSP-EPΔ06 are good examples of this, as both would not have been possible without a decision-making body to verify the urgency of the matter and approve the solutions.

As PSP 2.0 shifts away from the trial period, GovCo’s epoch assessments and regular meetings will not be needed anymore.

While keeping everything else identical to the original proposal of PSP-IPΔ26, we suggest GovCo’s duties to transition to the following:

1. Determine whether a proposal qualifies as a PEP proposal and publish it for a vote on Snapshot.

• As per usual, anyone will be allowed to publish their own PEP.
• Once the proposal is considered ready for publication by the author, they request the Governance Committee to post on Snapshot.

2. Handle the creation of the recurrent transactions needed to support PSP 2.0 operations:

3. Upgrade Module sePSP1 unstaking, withdrawing, and approval

4. Support for future manual transactions specified on their own proposals

5. Verify and sign transactions needed to support PSP 2.0 operations

6. Monitor and report potential vulnerabilities or unintended uses of the Social Escrow PSP system, and trigger Emergency Measures if necessary.

Performance Indicators

1. As a group, GovCo must be able to respond to any formal request for a PEP to be published up to 72 hours from its formal request time in the forums.

2. This will only apply to the first formal request, if GovCo doesn’t deem the proposal necessary for a PEP, further response times for the revision might vary depending on the amends needed

3. Individual GovCo member duties:

4. Signing rate of at least 75%, with no more than 3 votes missed consecutively.

5. If approving/denying a PEP vote, a rationale for their vote is expected based on their personal decisions

6. Although no regular calls are expected anymore, members are expected to have the availability to attend at least 2 calls per epoch, in case it is required

Implementation Overview

1. The new set of criteria for the Governance Committee is implemented

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