Purpose
To bring VitaDAO to life and operate through on-chain voting, its smart contracts and initial proposals (see VDP-1, VDP-2) need creation and implementation first. In order to do so, we propose the creation of a multi-signature wallet (“multisig”) with which we will allocate signing rights to a variety of known, trusted, and carefully vetted early-stage supporters of VitaDAO.
Moreover, this multisig will remain in use as a safety mechanism during the first few months after launch to sign transactions, such as budget allocations or mechanism changes. The intent is to reduce attack vectors from potential flaws in version 1 of VitaDAO’s token economics, governance, and smart contract implementation thereof.
The goal of implementing this multisig is to ensure a safe and speedy transition from version 1 to a version 2 of VitaDAO’s smart contract implementation where the multisig will become obsolete.
Design
We propose defining 8 (eight) signers in total, with a required minimum of 5 (five) signatures for a transaction to be authorized. These eight private keys should belong to individuals or organizations from sufficiently diverse organizational affiliations and geographic locations.
Implementation
The signers elected will set up the multisig wallet, and it is supposed to be operational from Wednesday, 16th of June, 2021.
Next steps
In an open call, we invite the community to discuss this proposal, evaluate potential signers, and agree on eight in total. Any individual or organization may nominate themselves and/or others to be considered for becoming a signer. If interested, please comment on the proposal below.
