Should we transition our smart contracts' ownership to a multi-sig?

Currently, the owner of our smart contracts is @PercentFinance (protected from by the timelock). However, this is not decentralized enough and it creates a single point of failure. Therefore, we propose to transition our smart contracts' ownership to a multi-sig contract.

The transition will be done in 2 phases:

1. Initially, we will transition to a 5-of-7 multi-sig, the initial signers are our active community members: @PercentFinance @Bluecrypt @cany @vfat @brisket @Spartacus and @pyggie
2. Then, we will transition to a 7-of-11 multi-sig, the signers will be the existing 7 signers plus 4 additional "independent" signers from prominent industry thought leaders

More discussion can be found here: https://gov.percent.finance/t/multi-sig-transition/42

Options:

1. Transition to a 5-of-7 multi-sig (initially), controlled by elected and rotated community members + 4 "independent" signers from prominent industry thought leaders to be added shortly (also protected from by the timelock)
2. Transition to a 5-of-7 multi-sig (initially), controlled by elected and rotated community members + 4 "independent" signers from prominent industry thought leaders to be added shortly (NOT protected from by the timelock)
3. Leave things as they stand, i.e. @PercentFinance keeps the owner status (protected from by the timelock)