The Shyft DAO treasury will be administered by 7 signers. The purpose of the Shyft DAO treasury signers will be to enable treasury transaction executions in connection with approved proposals that require grant funding.
This proposal invites the Shyft community to nominate and elect 3 community members to join the group of signers.
Elected community members will serve for 3 months, at which time there will be another election. Elected Community members will be given key-signing authority on the Shyft DAO Treasury, whereby 5 out of 7 signers would be required to participate in the execution of transactions associated with the DAO treasury.
The Shyft DAO treasury sits at the heart of the Shyft DAO and will be managed by the Shyft DAO Treasury and Economics Committee in accordance with the Shyft DAO Charter.
Composed of SHFT tokens, the DAO treasury is expected to be strategically utilized to facilitate the perpetual advancement of the Shyft protocol, in accordance with the Shyft DAO’s mission statement.
Considering the importance of the Shyft DAO treasury, it is crucial to ensure its proper security and safeguard it from unwanted actors. Therefore, it is prudent to enable participation of highly reputable members of the Shyft community with technical backgrounds, specifically in the DeFi space, to form the group of 7 signers delegated with the tasks signing for transactions associated with various grant fundings etc.
As mentioned in SIP-1:
In order to ensure wide participation, the Shyft DAO treasury signers will be composed of 7 Shyft community members from 3 different community groups of the Shyft ecosystem with different participation lengths.
Furthermore, to bootstrap the initial phase of the Shyft DAO each community group member participant will nominate and make election of member participants within his/her own community group as described below;
- Shyft Community members: 3 signers, elected for a period of 3 months
- Shyft Federation members: 2 signers, elected for a period of 2 years
- Shyft Core members: 2 signers, elected for a period of 2 years
Upon election each signer will have the choice to remain anonymous if they choose to do so.
And as per our announcement on February 25, 2022, in which we invited the Shyft community to nominate the 3 community key signers by indicating their names on the Shyft discord channel, the following members are the top 3 nominees as the result of the poll held on Shyft discord, whom are now up for election to take part in the signing of transactions of the Shyft DAO treasury for a period of 3 months.Please note that the community key signers will be identified by their Discord handles;
A. Conqueror (Conqueror#1312)
B. DT (DT#5207), and
C. Hindsgaul (Hindsgaul#0431)
The feedback process begins now and is expected to end at 18:00 UTC on 03/03/2022. After this, a Snapshot vote is expected to be put up at 19:00 UTC on 03/03/2022 if there is sufficient interest and support for the proposal from the community.
Following the feedback period, the voting period will last for 5 days thereafter (i.e. until 19:00 UTC on 08/03/2022) for the community members to cast their votes.
For: The three proposed community member signers of the Shyft DAO are elected as part of the 7 signers.
Against: The three proposed community members signers of the Shyft DAO are rejected as part of the 7 signers.