[PIP - 20] Maintain Aragon POP treasury on a multisig

VaultCraft Improvement Proposals VaultCraft Improvement Proposals [VIP]
1

Summary

This PIP seeks to inform and collect feedback on transferring the POP treasury on Aragon to a multisig controlled by Core team members as we continue to decentralize Popcorn and its smart contracts. This is a temporary solution that will prevent token holders allocating treasury funds to themselves for monetary benefit via an autonomous vote until the protocol sufficiently decentralizes and can run autonomously.

Motivation

To remove the ability of token holders to submit proposals to transfer themselves tokens from the PopcornDAO treasury and ensure the entire POP treasury can be utilized in the future.

Action steps:

  • Submit proposal on Aragon to transfer the entire POP allocation on Aragon to a multisig controlled by Core team members: eth:0x93A32401D3E1425AD7b3E118816A1B900E714d18
  • Transfer POP to the multisig

Desired outcomes:

  • Prevent potential of token holders submitting proposals and ultimately transferring POP tokens to themselves
  • Maintain control of POP by the core team in a multisig until PopcornDAO determines how to utilize POP in a decentralized and autonomous protocol

Please vote on the proposal below!

Maintain Aragon POP treasury on multisig
  • Yes
  • No

0 voters

20 Likes
2

It feels like there is a need for this, but those of us who are not part of the core team may have some questions, e.g.:

What is an autonomous vote?
What has changed? i.e. Why is this a risk now and not in the past?

Which protocol are you referring to?

How many? How many signer needed to accept transactions? Who are the signers?

1 Like
3

Will the multisig be tenural?

4

An autonomous vote means that anyone with a token can autonomously and permissionlessly create a proposal to transfer tokens. Token holders can of course reject the proposal if there is no valid reason, however we would like to remove the potential of a vote altogether. We should have done this since day 1.

Which protocol are you referring to?

Pop Vaults - The Ones in the Arena: PopcornDAO | by aramas | Code4rena | Medium

How many? How many signer needed to accept transactions? Who are the signers?

5 unique individual signers that are Core contributors with a 4/5 signer threshold.

1 Like
5

But this temporary solution is more centralised than the existing implementation, right?

What is the next solution after this temporary one?

6

Yes it is more centralized, however less risky.

We will update the community on the appropriate infrastructure we plan to use to manage the POP treasury hopefully soon.

1 Like
7

Safety will be a top priority

8

Well, as much it is a great initiative, it is a bit risky.

9

Accurately informed, though some of the purposes still remains unnecessary to me

10

its an ideal option to have a multi sig controlled by the teams. it gives more transparency and trust the project for the end users.

11

This is really good and called for. The strategies might seem hectic but with for diligence, the goal would be attained

12

This article provides a clear and concise explanation of the proposed action steps, desired outcomes, and motivation behind the transfer of the POP treasury on Aragon to a multisig controlled by Core team members. The temporary solution aims to prevent token holders from allocating treasury funds to themselves for monetary benefit via an autonomous vote until the protocol is decentralized enough to run autonomously.

I like the fact that the article effectively communicates the purpose and goals of the proposed transfer and provides a clear roadmap for how to achieve them.

1 Like
13

What do you plan on achieving with this method?

14

It feels like there is a need for this, but those of us who are not part of the core team may have some questions,

15

Wow this is great, might be a bit difficult and need to play safe.