Update 2.0: 14/08/2024

Summary

Update of JIP-1 draft after polls feedback & new signers election

Context

The last signers rotation happened in early June, which improved efficiency on weekly transactions, however it’s still struggling to coordinate signers for swap sessions, which requires transferring to Jarvis Ltd as an intermediary.

Rationale

All multisigs have been updated to the 5/9 threshold voted after last rotation.

This proposal aims to update the committee structure and optimize time sensitive transactions. The poll mitigated results were in favor of weekly swap sessions so we tried but it remains complex to sync with signers schedules, so exploring the other option.

Deploying a swap multisig with ⅔ signers threshold, including the lead, co-lead & requires a third volunteer to join swap sessions if one is unavailable.

These new multisigs will be deployed with the same address on all chains through smoldapp, and will receive assets to swap or other time sensitive transactions periodically. The committee will swap and transfer assets back to main multisigs.

Additionally, this is a great opportunity to unify the treasury multisigs under the same addresses, making it easier for anyone tracking the treasury.

Retroactive rewards for signers

Included May, reduced requirement to 48% to include Valentin who’s been quite active on the period & adapted the signing percentages, giving the following repartition with a $JARVIS price at $0,06 on August 14th 2024: See 1st Screen

Committee

Actions Required: Select Safe (for example Base), clone all possible chains & transfer assets there. BSC safe remains unchanged as it can't be cloned, and some vesting/lock will remain on old Mainnet multisig for some time, but the threshold can be lowered there.

The scope remains unchanged for active positions. TLDR of the new structure (Roles & Compensation):

Roles

1 Lead - Manage most txs creations, coordination & swaps sessions Co-Lead - Assist or Replace the Lead if unavailable & swap sessions 1 Main + Swap Signer - Available if Lead or Co-Lead are not on both multisigs 6 Main Signers - Only sign non time sensitive weekly txs

Committee Compensation:

Compensate the committee for a period of 3 months, from June to August 2024. See 2nd Screen Max total monthly budget: 2350$ Max total quarterly budget: 7050$

This spending is proposed in JARVIS to avoid impacting the stable treasury.

Means

• Approve 120,000 JARVIS as retroactive rewards to signers from May 2022 to May 2024 (2 years)
• Approve Up to 7050$ per quarter in JARVIS to compensate the treasury committee (June to August 2024)
• Top up swap multisigs with gas budget on every chain

Technical Implementations

• Clone one of the available Safe into all other chains available to unify main treasury under same address (except BSC as not cloneable)
• Send all transferable assets to new main multisigs (same threshold as now)
• Deploy a swap multisig with ⅔ threshold & add gas there Reduce threshold of current mainnet multisig once all transfer done (to easily transfer vesting & locked assets once available)

Voting Options

• Yes
• No
• Abstain