PGP-8: Community Multisig Election

Summary: The goal of this proposal is to elect 9 members that will manage the community treasury and protocol parameters eventually.

Context:

A protocol can only be decentralized if a single actor doesn’t have control over any aspect of the smart contracts. The creation of this multisig is the beginning of this transition. Let’s become trustless !

Three members of the core team will present themselves with the goal of creating a 5 out of 9 multisig.

Means:

1000 PAL/member/ year to cover multisig costs (9000 PAL /year)

Sustainability:

Any member unable to sign five proposals in a row will be excluded from the multisig for efficiency purposes.

Voting options:

This will be a cumulative vote, where 9 members are selected by the highest vote count and if they passe the 100,000 PAL support threshold

  • Candidate A
  • Candidate B
  • ….
  • Abstain

If you wish to participate please introduce your application in this forum post before by 26/04/22, elections will start on the 27th.
A few members of the core team will also participate in the election and we hope to get your support.

ADDENDUM 1:

10 Likes

I would like to apply to this post, so here is my presentation:

My name is Bertrand, I’m 24 years old, I live in Belgium and I’m still a student (I’m studying dietetics, I know it has nothing to do with crypto but I’ve always liked to take care of my health and the health of others) I was taken by passion by the “DeFi” or at least what I thought was the DeFi at that time (pancakeswap etc… :rofl:) before really approaching in the real DeFi with the Curve Wars, the Aave loan and now the power of governance with Paladin!

I’ll be happy to help a project that I like and use.

Why me ?
As a student, I often have a computer near to me and a lot of free time to sign proposals :slight_smile:

I want to thank you in advance if you give me the opportunity to learn more about DeFi in addition to gaining experience with Paladin and its community :heart_on_fire:

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Hey team - jumping in here.

As long-term believers in the team and vision of Paladin, we would love to continue our support and work with both core and community members.

Would love to raise my hand for the Community Multisig

My qualifications:

Transferability Committe @ Paladin
New User of the Month (December '21) @ Paladin
Delegate @ Paladin (flipsidecrypto.eth)
Protocol Specialist @ Flipside Crypto
Review Committe @ Aave Grants DAO

Sitting on multiple committees and working with DAOs I am aware of the needs and responsibilities of mulitsignature signers. As part of the transferability committee, I have approved 3 transactions to grow the future $PAL; this is something I hope to continue.

Gnosis is tooling I use both personally and professionally and I am excited about future developments in the DAO tooling stack (Orca, etc)

Also, love this qualification:

Seems to eliminate folks who are failing to meet their responsibilities. Responsiveness and accountability are paramount when building with speed and conviction.

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Hi PALs!

I was an elected signer of the LBP multisig wallet in the Transferability Committee. It was an exciting project where I had the pleasure to work with an amazing team and learn even more about what Paladin can become. For that reason, I would love to keep contributing to Paladin and help be a responsible signer of PALs community multisig.

I jumped down the crypto rabbit hole 3 years ago and have contributed to several DAOs already. My full-time journey started at Idle.FInance where I was one of the first DAO contributors elected by its community. I am still contributing to Idle as an Advisor and am part of Idle’s Multisig as well. Later on, I contributed to YGG where I helped out with some Governance work and created possible Governance blueprints for the project. I recently started to contribute to Prime rating as well.
My educational background is in Banking & Finance and ironically I have previously worked for one of the most centralized financial institutions in the world (Somehow ended up in this space here :wink: )

More about me on LinkedIn & Twitter

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Hi Pals!

I’m David, live in UTC+2 time zone and am a 37 years old father and 7 months old in DeFi.
I do have a background in TradFi in Financial Engineering.
I fell down the DeFi rabbit hole and learned a lot but also been sleeping a lot less since then!
I follow closely the following projects among others: Curve, Aave, StakeDAO, APWine, QiDAO, Angle, Blackpool…
I believe in Paladin’s mission of tokenizing influence and enhancing decentralization.
I already experienced the Warden boosting experience and loved it.
I am strongly ethical, and would take seriously this role of signing on the voted decisions by the community.
I would be honored to become a Paladin Community Multisig member : it would be a first for me and an additional opportunity to keep learning on governance topics while contributing.

5 Likes

Hey everyone !

Quick intro for those who don’t know me: I’m Koga, co-founder & smart contract engineer at Paladin.
I submit my profile for the Community Multisig, first of all to be a representative of the core team (& the dev part of the team) in this multisig, but also to review/prepare any transaction from the multisig interacting with our smart contracts, as over time, more of the adminship of the Paladin & Warden smart contract will be transfered to the Community Multisig.

9 Likes

The idea itself is an important one - expedience and liveliness are very important for any community multisig. However, instead of a disincentive, which can easily have unintended negative consequences, e.g.:

  1. This could be triggered by a 5-txn queue, which I’ve seen happen on other multisigs when rewards, distributions and other house keeping items are needed to be done on a given day.
  2. These multisig efforts tend to feel like a public service/thankless job after a certain amount of time, which can tarnish some of the most fervent community member’s excitement about the project.

Given a lot of these volunteers are newer to crypto - I suggest that we have an incentive, say 25 PAL per signature, which after a while could become quite significant and have the added affect of distributing PAL actively to community members who contribute time and effort.

For logistics, I recommend we setup a simple python or js script to pull the data from etherscan and we run it monthly and distribute the rewards accordingly. Perhaps it makes more sense to run quarterly? What do you all think about this and the idea as a whole?

5 Likes

Your critic is totally valid, instead let’s say 5 signing sessions separated by a week (ie: you don’t show up for 5 weeks, goodbye).

For the 25 PAL, I get the idea, and it’s sensible. My only worry is the operational overhead of spending 400+ PAL / vote. That seems simply ludicrous. Maybe we could do a monthly perf pay ?
90% + signing : 250 PAL
75% + signed : 150 PAL
50% + signed: 100 PAL
33% + signed 50 PAL
Under: nothing

There should be at least 6 signatures a month and probably 8-15 considering current multisig activity.
Of course budget should be revised every 3 months depending on average price.

4 Likes

I like this idea. As @jakelynch was saying voting and participation is almost always a thankless endeavor (I’ve only seen a change in that way of thinking once I got into DeFi).

A tiered system holds each volunteer accountable and puts it in their best interest to vote. Any committee should work as one but it’s really important to highlight and separate actions in terms of pay.

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I like both ideas

  • a fixed amount per signature (paid 1x per month)
  • degressive amount paid if you don’t sign enough (<90%, <75%, etc…)
1 Like

I’m not familiar with multisig stuff, is the requested transaction pushed as soon as 5 members out of 9 have signed ? Or do members have time to sign ? (if so, how many time ?)

I guess multisig costs are essentially ETH gas fees, so would it make sense to allocate ETH instead of PAL?

1 Like

No, after 5 signatures (free of gas), one has to execute.

I guess multisig costs are essentially ETH gas fees, so would it make sense to allocate ETH instead of PAL?

If we have to pay signers on top of it, I believe we should process with a payback (in ETH) system

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What I have seen in other DAOs is that additionally to a compensation in native tokens, the ETH spent on executing the transactions are refunded at the end of the month.

It could also be defined that there is only one or two persons who are responsible for settling up the transactions & executing them. The other signer solely verify & sign the transactions unless unavailability of the „creater“ „executer“ of the tx.

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Hello to all!

I’m Miaki, delegate at Paladin (by the way, don’t hesitate to delegate your votes to me if you share the same vision as me!)

My goal is to make governance activism fun and interesting. To do so, I write threads to get people interested and not hide anything from them!

Twitter Thread : Here

With this in mind, I’m also running for committee member to keep you informed of what’s going on behind the scenes and to make sure you always have your say! :shield:

5 Likes

Okay, added some modifications under the main post.

Also using this post to deposit my application as a multisig member.
I’m one of the co-founder of Paladin. I’m addicted to this project and would love to remain in the execution committee for a bit more time.

Please apply to prevent me from becoming a benevolent tyrant.

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Dear all,

Some words about myself, having a business background I currently work as a project manager I can add structure and help develop the DAO. I first heard about Paladin in November and started my journey to become a Paladin (Currently a Warrior - looking forward to the working groups as well).

I first used crypto in the ICO craze of 2017 and now I am looking forward to get more engaged and contribute to the progress of the protocol. That is why I would love to become a signer of PALs community multisig.

Looking forward to continue the journey together.

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I have been interested in DEFIfor 3 years. I am mainly interested in understanding economic aspects and governance issues on a daily basis.
For me, governance is a central point in the development of the blockchain world. Even if there will be another model of governance.
We are at this very beginning, most people are not yet aware of it and it is important to be able to educate people on this. The governance attacks earlier this year are a good example.
I have been following Paladin for 7 months and I would be happy to help with the development of the DAO.

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Hey all !

I’m pitching myself as another member of the core team (lead designer). I’m already quite familiar with the rhythm of our operations and I also helped coordinate with the Transferability Committee for a smooth LBP. As such, I believe I can continue to be a reliable signer.

Super excited for this next big step!

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Hey friends!
I’m L0GYKAL, one of the APWine co-founders :wine_glass:
I hope you’re doing great, I just come back from Amsterdam DevConnect where I was discussing with my friends at the Paladin team.
I’m following the project since its inception, I have full trust in @Figue and the rest of the team. But as we say: don’t trust, verify, so I’m here as a candidate for the DAO multisig. I’m ready to sign transactions with my wallet as fast as possible as well as verify their content.
I have a pretty good understanding of every DeFi Projects and I want to promote the partnerships with other projects for Paladin :kissing_heart:
Here for the long term to see how Paladin will change the way Governance works!
Here is my twitter

6 Likes