[HIP-20] Community Multisig Operations for the Hop DAO

Authors: @Kene_StableNode, @Bobbay_StableLab & 💩💩💩💩 Contributors: N/A Status: HIP (Snapshot-only vote)

References

How Should HOP compensate Multi-Sig Signers

Simple Summary

This is a request for comment to finalize the discussion of Hop’s Multi-Sig Operations. This a follow-up proposal to the “Temperature Check - How should HOP compensate Multi-Sig Signers” proposal, which has already been passed off-chain and on-chain by the community.

Abstract

This proposal outlines the process for nomination, election, and compensation of multisig signers for the Hop DAO Community Multisig. The proposal aims to define the multisig’s goals and clarify the process for joining and participating in the Hop DAO multisig.

Nomination and Election

Every six months, there will be a nomination process and subsequent election to replace the five Hop DAO Community Multisig signers. Stats should be kept about the incumbent signer’s number and speed of signatures in the 6-month period and displayed during elections. A forum post should be started where applicants indicate their interest in the role through a formal application stating:

Who they are
Outlining their track record of reliability in previous roles
How they contribute to the Hop Ecosystem

The nomination process should run for seven days with question and answer, after which a subsequent snapshot election will be held; after the election, the top 5 applicants will become the new Hop Multi-Sig Signers.

Responsibilities

The Community Multisig exists for the Hop DAO to transact faster and with more flexibility than can the full governance timelock. However, the multisig’s purpose should be to reduce its role in the DAO as much as possible.

Each signer will be responsible for verifying transactions, checking merkle roots, and signing off on transactions as necessary.
The signers will work together to manage the nomination and election process, with each signer taking on specific tasks to ensure that the process runs smoothly.
The signers will also work together to manage the day-to-day operations of the multisig, including responding to questions from the community and ensuring that transactions are executed in a timely and efficient manner.

Compensation:

Salary: As an amendment to HIP-12, Multi-Sig Signer compensation will be $2,250 twice a year for = $4,500 * 4 = $18,000

Bringing the total cost to = $18,000

Gas Rebates: As ETH is spent to execute multisig transactions, we propose that each signer is reimbursed for the exact amount of gas spent during the 6-month term. To be eligible for a rebate, we propose that signers use a Google Sheet template to track gas costs. A dune dashboard or other data query can replace this. We further propose that gas rebates (but not full compensation), where reasonable, are extended to all Hop related multisigs (e.g. Grants Program multisig).

start

February 20, 2023

1:45 PM

end

February 25, 2023

1:45 PM

Voting

off-chain

Voting type

basic

Voters

715

Votes

9,891,047

Final Votes

closed

For

9.7M HOP (delegated)

98.56%

Against

24.7K HOP (delegated)

0.25%

Abstain

117.7K HOP (delegated)

1.19%

item label

Placeholder title of a dao proposal

DAO name

0x000000000000

Mon 00, 2024 00:00

About Voters Analytics

Lorem ipsum dolor sit amet

Lorem ipsum dolor sit amet consectetur adipisicing elit. Veniam maxime tenetur saepe, debitis quae quos vitae cum obcaecati recusandae suscipit magni delectus sit animi quam veritatis aut, numquam illo voluptatem! Lorem ipsum dolor sit amet consectetur adipisicing elit. Veniam maxime tenetur saepe, debitis quae quos vitae cum obcaecati recusandae suscipit magni delectus sit animi quam veritatis aut, numquam illo voluptatem!

Voting

100,000

Voting type

100,000

Starts in

100,000

Voters

1,000,000

Votes

1,000,000

Votes

Choice label

TICKER

100%

Choice label

TICKER

100%

Choice label

TICKER

100%