Vote for the Creation of a Multi-Sig Wallet for ALANAmagazine and Selection of Multi-Signers

Background As ALANAmagazine continues to grow, managing funds securely and transparently has become a top priority. Currently, the project relies on one less secure single-signature wallet, which poses risks such as unauthorized access and lack of community oversight. By creating a multi-signature (multi-sig) wallet, the ALANAmagazine team aims to enhance financial security, foster transparency, and enable decentralized decision-making. A multi-sig wallet requires multiple designated signers to approve transactions, ensuring that funds are managed collectively and responsibly. This proposal comes up at this time specifically due to the tremendous support of ALANAmagazine via the Artizen Fund and payouts that need to be arranged shortly.

This proposal aims to accomplish two things: Securing the agreement of The ALANA Project community to create a new and dedicated ALANAmagazine multi-sig wallet. Voting in five different signers for this multi-sig wallet who will be responsible for managing the account. Out of these 5 signers always 3 are required to sign for a successful transaction.

Benefits Multi-sig wallets significantly reduce the risk of unauthorized transactions by requiring multiple approvals.

Community members will have clear visibility into how funds are managed and utilized.

Shared responsibility among multi-signers ensures that financial decisions align with the project’s goals.

Decentralized fund management reinforces the project’s commitment to fairness and continuous decentralization.

The wallet will streamline financial processes, ensuring funds are used effectively for content creation, marketing, and operational needs.

Risks Operational Delays: Requiring multiple approvals for transactions could slow down urgent payments or funding needs. Mitigation: Clear communication and scheduling among signers will help minimize delays.

Human Error: Mistakes by signers (e.g., forgetting to approve transactions) could hinder smooth operations. Mitigation: Onboarding and training will ensure signers are well-prepared for their roles.

Loss of Signer Availability: If a signer becomes unavailable, it could disrupt the wallet’s functionality. Mitigation: Proposing a threshold of 3 out of 5 approvals allows for flexibility if a signer is unavailable. (Which is what we're proposing)

Resources We suggest using https://safe.global/ as they have consistently proven to be the best multi-sig wallet provider out there.

Timeline and Implementation The implementation will be completed within one week of proposal approval.