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YGG League of Kingdoms YGG League of Kingdoms by0xE1C49BEca9cf0489426F53e914F1D98987866Ee1fallencorpsez.eth

Should YGGLOK establish the role of YGGLOK Custodian?

Voting ended over 3 years agoSucceeded

Background: League of Kingdoms runs on two Blockchains, Ethereum and Polygon (Matic). Multi-signature wallets such as Genosis can only operate on one blockchain at a time meaning we would have to have a different multi-signature wallet for each chain.

Problem: Currently the YGGLOK subDAO can only claim land revenue through League of Kingdoms website land portal with our gnosis wallet and CAN'T interact with the ingame assets such as resources. This means we can not distribute the billions of resources our lands have acquired to our members or sell on the market. Somebody needs to have access to the private keys in control of those assets. Centralized control over assets is a risk.

Solution: Establish a custodian who is charged with safeguarding the sub-DAO assets and execute the actions and business of the sub-DAO. Attempt to mitigate the risks through proportionate penalties and incentives.

Recommendations for Custodian: -Custodian should be technically savvy enough to understand risks and security issues related to asset management -Hardware wallet such as Ledger or Trezor -Custodian should be prepared to provide a dedicated environment to safely interact with LoK that is isolated from risky/general computing behavior -Custodian should be prepared to escrow collateral with YGG (or already have collateral escrowed) to cover some/all of the cost of the assets -Custodian should be an owner/participant in YGGLOK and have "skin in the game" (in the form of YGGLOK tokens) to incentivize their good behavior -Custodian should implement a backup strategy that enables the community and/or YGG to recover the assets in the event of their disappearance or demise

Execution: If passed, a subsequent proposal should be made to vote on a particular eligible custodian, keeping in mind and addressing the above recommendations. Once selected, the custodian will work with YGG to receive the sub-DAO assets and implement the secure escrow and backup strategies. From then until a new custodian is selected, the custodian will be responsible for executing on-chain YGGLOK sub-DAO proposals and decisions to the best of their ability.

Off-Chain Vote

Yes
15K YGGLOK100%
NO
0 YGGLOK0%
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Timeline

May 10, 2022Proposal created
May 10, 2022Proposal vote started
May 15, 2022Proposal vote ended
Oct 26, 2023Proposal updated