RFC-000-029: Establish a CEF Yield Ops Multisig Group

+1 on pretty much all of these points. I’m happy to conceed a little ground on the DNO requirement if the signee is a cast-iron, long-term community member.

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My main concern is that we dont have same user with multiple accounts in the multisig group. So community members that have been around for a while should be fine without any doxxing necessary. The newer ones can maybe just verify with Max with an NDA between them.

Kinda disagree. Being a DNO operator should be set.

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Agree 100%. Multi-Sig members should be DNO’s. If one isn’t a DNO then what are they doing in that position?

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I am generally against non DNOs (ie. non-voting community members) having multisig access. Certainly at this point I’m very opposed. But there may be someone in the future who brings something else very important to the table, so I wouldn’t want to make it an ironclad rule.

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A Community Call was held the on the 12th of January where we spent a lot of time discussing this RFC: Ren Community Call 005 - YouTube

There was overall agreement on most points that were discussed. To give a summary on the points that needed ironing out, and the following status of this RFC:

Multisig structure

  • 4 out of 7 structure, one of which is a member of the Ren team (Max)
  • There will be an election to select the initial 6 community members
  • Anyone can participate in the election
  • There was consensus that each member should be operating a darknode (for having money on the table in case they try to steal from the community fund)
  • There was consensus that they have a hardware wallet which they will use for the multisig
  • There was also preference that each member is quickly vetted by a person on the Ren team (hopefully only for this first time a multisig is spun up within the DAO)

Since we haven’t put these requirements up to a vote (run a DN, have a hardware wallet, vetted by Ren team), there is a way to resolve that while still keeping things moving forward, by making the vetting process optional, and during the voting stage, those who have been vetted and demonstrated that they run a DN (without doxxing their Ethereum address) and have a hardware wallet, will have that listed on the voting page itself. In that way, the community can vote to enforce these requirements if they wish, at the same time as they select who they trust to be in the multisig.

I am still exploring the best way we can see that someone is operating a DN without doxxing their Ethereum address.

Yield strategy

We have had many good proposals, and we heard some additional possibilities during the call. The one concern is that we don’t overwhelm the community with too many options, some of which require some knowledge to suss out. Before we vote on the yield strategy, it is best if we produce some kind of document which outlines their potential returns compared to risk.


Given this, it make sense to announce the election proper and give time for potential multisig members to do vetting with the Ren team member (Max), and in parallel we need produce a comparison document for the yield strategy as soon as we can. Coordination for that can be done on Discord and on this forum!

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Hey everyone, would like to make a quick sentiment check to see whether we should go ahead with a multisig election? This entails making a formal announcement, and giving time for members interested in joining the multisig to confirm they want to be in the election, as well as these optional tasks:

  • write a short text blurb to present themselves to the community
  • schedule a call with me (Max) to validate running a darknode, having a hardware wallet, and not being a robot (it will be visible on the Snapshot vote who’s done what)

The actual election would then be held roughly ~2 weeks after the formal announcement, unless someone has a suggestion for better timing. So people would roughly have 2 weeks to confirm they want to be up for the election and do the optional tasks.

  • Yes
  • No
  • Abstain

0 voters