RIP-000-012: Yield Ops Multisig

Ren Improvement Proposals | RIP
1

Name: Yield Ops Multisig
Author: Maximilian Roszko (@MaxRoszko)
Contributors: Various community participants (Discord)
Category: Treasury, governance
Status: Proposed
Scope: Select the Yield Ops multisig members through an election

Overview

Consensus within the community has been reached on what the most promising structure is for deploying funds in the Community Ecosystem Fund (CEF) in the short-term, and that structure is a community multisig that deploys funds according to some yield strategy approved by the community.

There have been many discussions on who get to be part of that multisig and what kind of requirements there are, which are difficult to resolve prior to an actual vote, so this proposal opts to not make any assumptions at all. Instead, the community can vote ā€˜Noā€™ on the whole proposal itself, or distribute their voting power towards any members they prefer, which could be according to some principle e.g. the members have proven that they run a darknode or not.

Background

For background, please refer to the corresponding RFC: https://forum.renproject.io/t/rfc-000-029-establish-a-cef-yield-ops-multisig-group/1064/8

And the treasury working group calls: Treasury Working Group Calls - YouTube

Details

Members wishing to sign up for the election will have to confirm it in this thread prior to the Snapshot vote going live, which will be scheduled to go live on Monday the 7th of February midday, giving members plenty of time to confirm and complete any optional steps. The actual vote will then be up for 1 week.

The optional steps that have been discussed so far (but you are free to do additional or other steps as well) are:

  • Write a ~100 word blurb to present yourself to the community
  • Do a quick video chat with Max to verify running a DN and/or owning a hardware wallet that can be used for the multisig

Doing any of the verification steps will be shown on the voting page so other community members will know, without disclosing sensitive information about yourself like your Ethereum wallet.

Implementation

  • Preparation time until the 7th of February
  • Voting starts on the 7th and lasts for 7 days
  • If majority votes for candidates and not the ā€˜Noā€™ option, the top 6 members will be selected to spin up the multisig together with one Ren Labs member (Max)

In parallel, the first yield strategy needs to be approved by the community, which will need a separate Snapshot vote as well. The vote for that can be appended to the multisig members vote if we are ready by then to present all the different yield strategy options in a fair way, otherwise it will be done as soon as possible.

1 Like
2

Hey guys, RV here, sign me up!

Iā€™ve been a REN holder since 2018 and an avid supporter since 2019, including being an ambassador and an admin in Ren communities. Been running my 1st node even before Mainnet!

Thereā€™s not much you can say in ~100 words, but if you go way back, than itā€™s very likely you already know how I care about Ren and its future. And if you donā€™t know, you can check my twitter, RFCs/RIPs, Telegram history and/or have a chat with me in our Discord.

I have a flexible schedule and, if chosen, I expect myself to be one of the most active signers on the multisig, making sure that things get done in a timely manner.

Thank you for the support <3

7 Likes
3

Discord: Mr.Moonbags#5982
Timezone: GMT -5
Availability: No current work projects
Hardware wallet: Ledger
Text blurb:

I come to the REN community from the business and entrepreneurship world. Over my career I have bootstrapped, bought and sold small businesses, managed large-ish budgets and currently oversee a multi-strategy investment portfolio. The crypto space has been a growing obsession of mine since I first learned of Bitcoin, but really since I dove into the 2017 bull market. The REN community attracted me first with the groundbreaking technology it has been quietly building. I bought my first Darknode bond in the depths of the 2018 bear market and have been operating a node since around epoch six. My affinity for the community grew as I saw values-alignment from the conservative (for crypto), security-focused approach. At the moment, I am taking some time off from operating businesses, which means itā€™s a great time for me to pitch in as REN builds its DAO from the ground up. And so, I would like to offer up my services.

6 Likes
4

Hey everyone,
Discord: WesĀ²ā™œā™œā™œ#0001
Twitter:
Timezone: GMT -5
Availability: Very flexible
Hardware wallet: Ledger
Text blurb:
Got into the space in 2016 and started taking things seriously in 17ā€™. Have followed/held ren since the initial listing day (have a few of those precious epoch 1 nfts) and have been fascinated by what could be accomplished if the product came to fruition. Watching the progress each quarter and professionalism by the team at each step has strengthened my belief so much in the project that I decided to join the community and get involved on a personal level.

I look forward to shaping the future of the multichain world with everyone here and watching the RenVM become a foundation of it all.

In my spare time you can find me over at the Keeperdao and ZeroDao Discord, managing my Bitcoin ATMā€™s at a convenience store near you, on your local disc golf course, taking long bicycle trips, or at my local nonprofit where I help adults/children with mental and physical disabilities find jobs/gain independence in the local community.

-Wes

6 Likes
5

Hey all, Iā€™m ready to step up for the multi-sig!

Discord: Thomm#7650
Twitter: https://twitter.com/realthomm
Timezone: GMT +1
Availability: Very flexible
Hardware wallet: Ledger
Text blurp:

I have a background in computer science which is how I first learned about Bitcoin back in 2013. I still remember reading the whitepaper in awe and immediately falling down the rabbit hole. Been part of the Ren community (or Republic Protocol I must say :wink:) since early 2018 and running darknodes since the first few epochs. The idea of using sMPC tech to build a DEX with a hidden order book immediately appealed to me, but even more so I fell in love with the team after hearing them talk in various podcasts. After the pivot to RenVM this only solidified my conviction.

Outside of crypto I work a corporate job in the tech industry as an engineer. Specifically my team builds and maintains the system and infrastructure that is used to service machine learning predictions, automated training and deployment of models and the life cycle of the data that is required.

Its super exciting to see the crypto and interop space evolve in front of our eyes, to see how the last years of buidl are coming to fruition. Iā€™m ready to scale down my corporate job and have more time to be involved.
With my affinity for all things tech, data, finance and of course crypto I look forward to do my part in the community!

3 Likes
6

Forgot to mention that people who want to do verification through me can add me as a friend on Discord and plan a call, no more than 5 min should be necessary!

1 Like
7

Sign me up.
Why?

  1. I am passionate about Crypto and specially REN, am in here hopefully for the very long term, if REN project continue growing and working for life, I will be here for life.
  2. I am a Software Engineer with more than 10 years of experience, 4 years at PayPal and worked on Crypto projects there.
  3. Have a HW and also experience with Smart Contracts and web3 development.
  4. Currently running 2 nodes and looking forward to set a third one in the future.
  5. Currently providing liquidity on renBTC/wbtc on curve LP.
  6. I will be available when needed, have flexible work schedule and work from home :slight_smile:

I might not comment or participate that much in the community since I was relatively new, but I already have ~10 epochs of having my first node, and just spinoff the second one, been accumulating since before, so expect me to participate more often from here on now.

Willing to help the community as I am invested in the success of the REN project.

3 Likes
8

Hello, fRENs

I have been a REN investor, and member of the active crypto investor since 2018, I have a real estate and management background and believe in REN protocol. I have been a node operator since epoch 5, I have been an active member voicing my opinions on RIPs, and have written a few RFCā€™s early in the forum history. I have been on most of the Treasury calls and have believed would make a good treasury member, and will defend node operator profits, prioritizing security and protocol marketing. I have a hardware wallet and would further invest in an additional one specifically for this role if need be.

I am an active DEFI investor and look forward to serving the interests of Darknode Operators and the REN community. I am willing to do an interview call with Max, as soon as he wishes.

Cheers everyone! I look forward to helping this project in a meaningful way!

Discord handle - @pcheng
Twitter handle - @stoggle

3 Likes
9

While I wonā€™t have time to dedicate fully as Iā€™d like to if I were to submit for candidacy, Iā€™m happy to liaise and consult with how best to operate a multisig and make the systems transparent.

Exciting initiative, especially with solidly around the corner!

11 Likes
10

Hi guys, ladies,

Iā€™m JAVB1, multiple DNā€™s operator since beginnings. Ren can become what TCP/IP means for the internet. I am also seriously impressed by Loong and his actings. Major fan.

I am an entrepreneur for over a decade and coach (conversation techniques) on the side. Have been in crypto since 2017. The way communities, governance, hypes and all kinds of new waves of enthusiasm evolve in crypto fascinated me deeply. Hence its speed of development. In traditional business (and tradfi) you just donā€™t see this.

I consider myself an incooomer, like Noah Seidman preaches. His way of looking at crypto like a business model has been fully integrated in my decision making. I am not particularly the initiator of new yield constructions, but my value lies in observation, evaluation and common sense. Iā€™d like to take my time, and I have a due diligence state of mind.

Enthused by this proposal, I would love to spend time with fellow Ren groupies in order to guide the community fundā€™s direction!

3 Likes
11

Hi All,

Happy to volunteer for the multi-sig. Been around crypto for a while and quite active in Ren community.

Worked in tradfi most of my professional life and looking forward to see crypto take over. I find interoperability being an essential cornerstone in all this and have yet to see a better solution than Ren.

Cheerio

6 Likes
12

After some deliberations Iā€™ve decided to throw my hat into the ring too.

Ren is dear to my heart and as an ICO investor, OG Darknode runner and someone with heavy investments in the project, I might need to step up my participation.

Bought my first Bitcoin in 2014, avid Defi user and rather active on TG, Iā€™ve been a short time critic sometimes, but always a long term believer in Crypto and Ren specifically.

Financially independent, reliable and living in a Crypto friendly legislation (hint: Crypto Valley), Iā€™m used to teach and lead ad-hoc teams as a consultant and in my own business. With the coming ā€œDAO-isationā€ of Ren Protocol, we all need to put more skin into the game. Iā€™d be willing to do just that.

3 Likes
13

Very happy to see so many community members ready to step up! :grin:

Also as an update on the DN and hardware wallet verification, we have 3 members who have done it so far!

3 Likes
14

Discord: Wheeler#2382
Timezone: GMT -8
Availability: Very flexible
Hardware wallet: Ledger
Text blurb:

Hi All!

Iā€™m Renfield on the Discord and formerly TG. One day I wanted to learn how to put my BTC assets to work in DeFi. The BTC blockchain was so limited and I had spent some time reading about all the fun that was being had over on the Ethereum side. While all the focus was on dApps and yield farms and the strategies they employed, I became intrigued with the simple bridge that let me go from one side to the other. I started learning more about the less-glamorous workings behind the scenes that made it possible for boring BTC holders to experience other chainsā€™ worlds. Iā€™ve been a DNO since then and am excited about what can be unlocked by Renā€™s future.

My experiences in the crypto space go back to 2016 riding ups and downs. My professional experience is centered around project management and process improvement. Itā€™s rewarding helping teams define their objectives and helping them get there through identifying obstacles and finding creative ways to get work done.

I am available for signing responsibilities and use a Ledger hardware wallet for security already.

The DAO needs people willing to roll up their sleeves and help out in a lot of areas. Iā€™m excited to volunteer to serve the DNOs and greater Ren community. Come chat on the Discord!

3 Likes
15

6 members gone through verification now :partying_face:

4 Likes
16

Many fine attributions from a great bunch of RENNERS. Good to read about all your mini bios, your contributions are always very valuable. It is clear to see that you all are very dedicated to the REN project.

Personally, I have been interested in the crypto world when I read in the news about the Silk Road case and how Bitcoin could build a better more just financial system. Nevertheless, I was actually a late mover and didnā€™t get involved until I was told about REN in 2018.

Unfortunately, I am not too tech savvy so I can only cheer from the sidelines. I have however been doing so much research with everything related to crypto sphere including participating in courses that are building up my knowledge towards the block chain and DEFI.

I am looking forward to witness how REN will adapt and evolve. And I hope more and more people with embrace the projects that are being built and projects that are yet to be conceived.

In REN we trust

2 Likes
17

Your comment about defend ing Darknode Operator income particularly resonated me. :slight_smile:

1 Like
18

Have 7 members that have gone through verification, if there are more who are interested in doing it remember you have to contact me and get it done before Monday the 7th!

1 Like
19

The election is now live! Go vote now! :ballot_box: :ballot_box: :ballot_box:

The details on how ā€˜Weighted votingā€™ works is in the description: Snapshot

4 Likes
20

OneofTenThousand / WesĀ²ā™œā™œā™œ has now also confirmed owning a hardware wallet plus running a DN :white_check_mark::heavy_check_mark:

3 Likes