Yield ops call #011 - 28 November 2022

2022-11-28, 17 UTC - Ren Yield Ops Meeting
Attendees: Max, Arviee, Wes, Renfield

  • CEF funds denomination – With renBTC mints disabled currently, the funds we move from Ren 1.0 to the CEF multisig wallet will need to be denominated in a different currency. Discussion landed on ETH for ease of use, noting that it will only be an intermediary step likely before being put into Curve to earn a yield. Max will coordinate with Jaz to get the funds moved over to the multisig.

  • Max’s multisig key rotating out – With the DAO increasing its responsibility, self-reliance, and separation from the Ren team, we felt it is time to rotate Max out of the multisig group. The Yield Ops team will work on nominating a replacement going forward but for now do not want to add any governance burden to the community while we focus on the upcoming responsibilities around the transition to Ren 2.0 and voting on securing ongoing funding for the development team going forward. We have removed Max from the multisig and reduced from 4 of 7 to 3 of 6 for now. Edit: Additionally removed Sabobi from multi-sig as a part of the same focus.

  • ENS Domain transferring to multisig – Additionally, further decentralization necessitates the transferring of the Ren ENS domain along with the Ren Snapshot space over to the control of the multisig. The DAO will assume the responsibility of keeping the domain renewed and managed.

Upcoming objectives:

  • Roll Convex rewards into underlying LP position
  • Deposit upcoming CEF funds leaving Ren 1.0 into Convex LP position

Seem appropriate. Can you specify here the exact reason for multisig changes.

Hi @ac2192, as mentioned in the post

We lowered the threshold because there are now less member keys. We will be looking to increase the group again and cement this with a governance vote:

If anything is unclear we will be happy to answer any questions you might have (or anyone else for that matter). Feedback is also very much appreciated, so please do let us know if you think that things can be done differently. Thanks!

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