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Change multisig to 4/7

Voting ended about 4 years agoSucceeded

We propose to change the multi-signature approval process from 5/7 to 4/7 votes.

WHY? We as a DAO need to execute a lot of transactions. Just as an example, setting up one raffle round is a total of at least 3 transactions. The way a multisig wallet works, is that a number of people need to approve every transaction before it can be broadcast. That way, a rogue DAO member can't steal all the funds, as it would take a conspiracy of a majority of them to follow through with that. As you can imagine, getting 5 of 7 people together is not always easy, and is an arduous process. Therefore, we propose to change it from 5/7 people to 4/7; as 4 multisigs are almost always online simultaneously. 4 out of 7 is still a majority and would greatly enhance our ability to do our job.

Off-Chain Vote

YES - 4/7 works
527.41K 93.4%
NO - 4/7 is BS
15.65K 2.8%
wtf is a multisig
21.48K 3.8%
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Timeline

Nov 18, 2021Proposal created
Nov 18, 2021Proposal vote started
Nov 19, 2021Proposal vote ended
Oct 26, 2023Proposal updated