Summary

Update some of the current multisig signers rules

Context

The last framework update was voted on P-75-1 in December 2022 described below can impact the efficiency of the committee. This proposal aims to refine these rules before the next signer rotation.

Rationale

Current Rules

• Threshold: 5 / 8 signers
• Renewal every 6 months
• Top 3 renewed if they agree
• Middle 3 can re candidate
• Bottom 2 must leave their place for at least one rotation
• 2 signers can’t live in the same city
• A signer must leave its place after 3 periods being a signer (Pascal excluded)

This proposal aims to:

• Increase the multisigs threshold from 5/8 to 5/9 (raising middle signers to 4)
• Amend the last two rules in order to prioritize efficiency of the multisig rules by updating the previously voted framework.

Increase the threshold to 5/9

The goal is to try to reduce the time before transaction execution which often requires one missing signer, without reducing the security level of signers required to approve actions. This also updates the signer repartition for a rotation.

Remove geographic restriction for signers

While having signers in different cities, it can also mean different timezones making it complex to have enough signers when needed.

This criteria was already discussed a lot on the last rotation in P-75 here & here, which led to not taking it into account but the framework wasn’t amended to reflect that decision.

Update Signer must leave after 3 signing period (except Pascal)

According to this rule, despite being signers since the multisigs creation, Valentin & myself should remove ourselves, requiring the DAO to find more candidates & a new equilibrium.

Additionally, I’ve been creating the weekly tx over the past months, setting up tools like OnChainDen then which greatly improved the process.

By having a forced removal of involved signers, the DAO would lose people that have the knowledge of the tool and Treasury management plus replacement could be hard to find especially in this market so not sure if relevant to remove involved signers, but I’m obviously biased here.

Proposed new rules

• Threshold: 5 / 9 signers
• Renewal every 6 months
• Top 3 renewed if they agree
• Middle 4 can re candidate
• Bottom 2 must leave their place for at least one rotation

Means

• Update signer framework

Voting Options

Yes No Abstain