✔️[ABIP-02] - [RFC] Governor & Treasury team selection

Summary:
Select a team of governors that will handle the multi-sig keys for the governor role & treasury decisions. This team will only handle the treasury used for minimal viable price of the protocol, as also shown on the dashboard. Partner & DAO treasuries will fall under different multi-sigs. However those funds are not included in the current dashboard.

Abstract:
The keys to main contracts need to be moved away from single deployers to multi-sigs. Initially we needed to ensure the protocol goes live and runs as smoothly as possible, which given data we are confident we have achieved.

The multi-sig will be a 3/5 signer to start, and all major decisions regarding the protocol falls under this role.

Motivation:
To increase security, we need to move contract ownership to multiple individual teams. Two major teams will be formed for this.
Policy / Guardian
Governor / Treasury

The governor role is the most important role as this one controls the funds in the main treasury and also can change reward rate and other parameters. Each governor will also carry an NFT issued at a later stage which will give them a higher voting power than most others.

A governor can be voted out by a unanimous vote by the governor team (excluding the one being voted out) or a majority vote between the policy and governor teams.

Governors can also be voted out by a 65% general vote on snapshot.

Job of the governors:

  1. Recommend reward rate reductions based on treasury assets.
  2. Recommend treasury assets for acquisition and sale.
  3. Provide a framework on how these assets are bought & sold.
  4. Execute & change any other roles e.g. Policy.
  5. Manage withdrawals and deposits into the main treasury.

The proposed five initial governors are:

  1. electo - Has experience in markets dating back to 2014. Has been a part of various trading groups in the past including Whalepool. He is also one of the biggest seed round contributors buying ABI at $15. Part of the core team and cofounder. electo is also a major shareholder of Luca+ and currently the one executing trades for Abachi.

  2. rand - Core team and cofounder. Has won various hackathons throughout the years. Understands markets & code equally well. Writes smart contracts & bots for fun. Has also worked on Crypto Stats which is one of the biggest data aggregators around all markets. He is also one of the biggest seed round contributors buying ABI at $15.

  3. HmZ - We consider her core team, but she is a week 1 seed contributor. One of the biggest unlocked ABI holder. She has gone above and beyond in the community, giving away her own ABI to help people learn. She also brings real-world common sense to the team.

  4. Sasha - Advisor to Abachi, and has also invested a sizeable portion in early seed for ABI. He is the founder of creaton, and understand the DeFi space very well. Has been instrumental in helping with marketing and partnerships.

  5. P-One - Core member of the team and handles Ops and security for Abachi. Software engineer at core and he already handles all IT infrastructure deployed. He is also our representative for upcoming Azure and AWS sponsorships.

Pros:

  • Increases security of the protocol.

Cons:

NA

  • Yes - I agree
  • No - Do it again

0 voters

3 Likes

I appreciate the proposal and i like the team. The multi-sig is mandatory to avoid “mistakes” as far as I’m concerned.
They will do a good job as done with the platform. :smirk:

4 Likes

Looking forward to the treasury team to take charge :slight_smile: Welcome onboard Master of Coins!!! :slight_smile:

4 Likes

I agree with the proposal. Looking forward to seeing the team in action. :ok_hand:

3 Likes

Fully agree with the choice of personnel and the responsibilities. Although I hope we can expand beyond 3/5 multi-sig down the road as platform grows. A 5/7 multi-sig (with 20% power for each member) is what I think would be a good target over the next 6 months.

4 Likes