Second Keyper Selection Process

Key information regarding the vote

Voting is live, and the voting period will last seven days. Voting ends on Friday, the 8th of December, at around 10:00 AM CET.

This vote uses Approval Voting, and members can vote per proposal to either approve the proposal or not. When voting, select all the proposals you wish to approve .

Each proposal must gain an approval rate of 50% or more to be selected as a Keyper for this set.

Keypers are crucial to the Shutter Network’s operations . They are responsible for generating encryption and decryption keys to secure network transactions. This vital role supports a system that prevents ‘malicious MEV’ and promotes fairness in DeFi, playing a significant part in the wider Ethereum ecosystem. The setup and operation of this role are not complex or expensive.

The Integral Role of a Keyper in the Shutter Network

In the Shutter Network, Keypers have an essential job: they keep the protocol running by generating certain encryption and decryption keys.

Keypers operate a node that creates these keys for different uses, such as votes in the Snapshot integration of Shutter or for transactions in any protocols where Shutter is used.

This role plays a big part in how the Shutter Network stays secure. It involves using threshold encryption and Distributed Key Generation, which the Keypers manage. These create a type of digital lock that can only be opened when a certain number of Keypers work together. This is how the network ensures its transactions are secure and can’t be tampered with before their inclusion and order are fixed.

One of the biggest jobs within the Shutter protoDAO is managing these Keypers, including running a fair Keyper Selection Process and ensuring any Keypers changes are made properly on the blockchain.

The protoDAO Voting Process

Once the period for posting proposals has been concluded, a member creates a list of the applications and puts a proposal on Snapshot. The members of the protoDAO then vote on this list. If the vote is successfully passed and the accepted Keyper set determined, there is a cooldown period before the proposal is executed by the multisig group, updating the list of Keypers on the Gnosis Chain.

Governance of the Keyper set

Members of the Shutter protoDAO will periodically vote on selecting and updating the set of Keypers used in the Shutter Network protocol.

This is the second vote and will help further decentralize the Keyper set from the past setup.

The community has created nine proposals for becoming Keypers in this second Keyper set.

We strongly urge the protoDAO members to review these proposals before voting. All the proposals for this vote can be found at the Forum.

https://shutterprotodao.discourse.group/tag/keyper-set-2

Voting on Snapshot

Voting is live, and the voting period will last seven days. Voting ends on Friday, the 8th of December, at around 10:00 AM CET.

This vote uses Approval Voting, and members can vote per proposal to either approve the proposal or not. When voting, select all the proposals you wish to approve .

Each proposal must gain an approval rating of 50% or more to be selected as a Keyper for this set.

Vote now

The minimum quorum for this vote is set to 4 members voting. We hope that as many protoDAO members as possible will participate in this second vital governance process for Shutter.