KIP-13 l DAO Multisig Election 1

Summary:

The proposal aims to elect 8 signers for a 6 months period that will manage the DAO multisigs, including proposals execution, treasury management and more.

Context:

A year ago the KUMA protocol was launched by Mimo Labs. From day one the protocol was governed by vMIMO holders, however the DAO multisig was still controlled by Mimo Labs for safety reasons as the protocol was completely new. We now propose to decentralize the multisig.

Rationale:

The multisig would be composed by 8 members and would require at least 5 signatures to execute a transaction.

Signers would be coordinated via a channel used solely for this purpose on the KUMA discord.

Being a multisig signer is not something to be taken lightly. Multisigs signers have full control over the protocol, the slightest mistake can have very important consequences for the users of the protocol as well as the protocol itself.

As multisig signers take risks and time to perform transactions, we propose to compensate them in $MIMO every month with a scale based on the % of signatures made per month:

  • 90 + signed: 10,000 $MIMO
  • 70 + signed: 7,000 $MIMO
  • 50 + signed: 5,000 $MIMO
  • 30 + signed: 3,000 $MIMO
  • 30 - signed: nothing

The total maximum cost will be 60,000 MIMO per member per 6 months. The compensation payment per member would be published on the discord and on this google sheets every month to keep the maximal transparency on treasury spending. Payment of compensations will be made at the end of the 6-month period by DAO Multisig.

If you wish to become a multisig signer, please introduce your application (with the address that would be used to sign) in this forum post before May 19th 2024, elections will start on May 20th 2024. Members will be elected for a 6 month period, starting June 1st 2024.

Means:

  • Human Resources: Multisig signers will need to sign transactions to execute the proposal
  • Treasury Resources: Up to 10,000 MIMO per month per signer (or up to 480,000 MIMO tokens per 6 months).

Technical implementation:

After the elections, the new signers will be added to the existing gnosis safe who control the protocol and the gnosis safe will be updated to have 5/8 signatures required to execute a transaction.

Safe Multisigs:

Voting Options:

This will be a cumulative vote, where 8 members are selected by the highest vote count.

  • Signer 1
  • Signer 2
  • Signer 3
  • Signer 4
  • ….
  • Abstain
  • Against / Rework the Proposal

Authors: @JeanBrasse from Mimo Labs

2 Likes

I Copy/Past my application from the Parallel Governance to also apply as Signer for the KUMA DAO Multisig:

I’m running as a candidate for the Multisig Election. I’m Starny, part of the MimoLabs team for more than a year now and a DeFi enthusiast from Belgium.

I am fully aware of the stakes that such a role involves, I have the necessary skills to be part of the multisig, including transaction verification and implementing security measures to ensure everything runs smoothly.

I am applying today to become a multisig member. If you have any questions, I am at your disposal.

My address: 0x79603115Df2Ba00659ADC63192325CF104ca529C

I’d like to introduce myself as a DAO Multisigs signer. I’ve been working at Mimo Labs for over 2 years now as Head of DeFi, initiating multiple proposals (see the forum).

My address: 0xBabB038737A7Ae0DcA02075E79ed5B7704C29827

Gm,

My name is Evix, and I have been somewhat active in the MIMO ecosystem through my participation in the Parallel multisig for a year.

It would be both a pleasure and an honor to extend my contribution by also participating in the Kuma multisig.

My address: 0xCAA713508eD800c75808ad51f035881Fb422a9E1

Hello*,
hereby I would like to run for the Kuma DAO Multisig Election 1.
Having the experience of already 18 month as a multisig signer for the parallel protocol, I would be happy to be part of this exciting protocol and responsible task which goes along with it.

My address: 0x8222624aE36fA6d21e32801cCa2B5AF54669e290

1 Like

Hi everyone,
I am a multisig signer for over 2 years now for the parallel protocol. I know what it takes to check and sign txns. My availability is good.
Love to be a multisig signer for the KUMA protocol aswell.

Hello everyone,

For the same reasons I mentioned in my candidacy for Parallel, I attach great interest to this decentralization also at Kuma, a multisig is a 1st step towards decentralization.

Like Parallel, I also wish to stand for election as a Multisigs DAO signatory.
Working in crypto / DeFi for many years, I know the importance, weight & objectives of governance to evolve protocols & DeFi in general.

My address: 0x4C5d1029C2c64fC6477529d5A391cA667a514B4C

Jeanbrasse & Starny are good candidates too.

I’m interested in joining the multisig wallet of KUMA protocol. I understand the critical role multisig wallets in DeFi. I am confident I can work effectively with other members to ensure the security of the protocol & keep a sustainable governance.

Thank you for your time and consideration.

My address : 0xd7F639F56bc91DE6a7f9a2Fe981d9894553a6469

Hey i‘ve been multisigmember since the beginning of Parallel Protocol & know the process, product services and i have a lot of personal interest to support the protocol

0x35b3e718aAfd5F932450eeb8690D022a96AAd78a

1 Like

And hereby my address.
It’s the same address I use for the multisig team Parallel protocol.

0xD758e17c0d96a6C753995D86e891E07286858130