Proposal Title: PVFD Proposal to Move Planets for Voting
Date of Submission: 4/22/23
Proposal Committee: Executive Committee
Implementer(s): Executive Committee, Multi-sig Committee, hot wallet owners (@bennydlowkey#1164, @sAndElf#8691), contract writer (@marcus23#5557)
Abstract: The execution of this proposal will move all Founder’s DAO owned planets out of the vault, which is controlled by a multi-sig Gnosis Safe that does not allow voting on Prism currently. Planet tokens will be temporarily moved to hot wallets where they can be used to vote in the UPDAO.
Motivation: The Founder’s DAO holds a significant number of planets which contribute greatly to UPDAO voting. For those planets to be used to vote on a proposal in the UPDAO they must be in their voting wallet before the proposal is officially submitted, which triggers a snapshot. This necessitates moving them into a hot wallet prior to the proposal being submitted, which will prepare them to vote on any upcoming and important proposals.
Connection to Mission: This proposal is in line with our current mission statement as it enables us to anticipate and prepare for new opportunities while also advancing the vision of Pixel Vault. By proactively preparing for potential proposals, we can actively contribute to shaping the direction of the UPDAO and collaborate with PV towards this common goal.
Specification: Trusted members of the community have volunteered to host the planets in secure hot wallets. These members identities are disclosed publicly and have agreed to sign a liability contract before the proposal is executed.
Execution: Once the proposal has satisfied the following conditions, it will be deemed approved and all parties involved shall carry out its provisions as written: (I) the proposal has obtained quorum; (II) the specified voting period has elapsed; and (III) the majority of votes are in favor of “approval”. The following steps will then be taken:
1. To ensure transparency, please note that the personal identities of @bennydlowkey#1164 and @sAndElf#8691 are publicly disclosed, and any pertinent personal information will be securely recorded and maintained by both the Executive Committee and the Multi-sig Committee.
2. @bennydlowkey#1164 and @sAndElf#8691 will sign the liability contract prepared by @marcus23#5557.
3. The Multi-sig team will send all Jupiter, Saturn, Uranus, and Neptune planets tokens from the Founder’s DAO Vault (0x580A96BC816C2324Bdff5eb2a7E159AE7ee63022) to the hot wallet controlled by @bennydlowkey#1164 (0x1993f7392A94f15847D9c2881A590C8a2e1d55Bb).
4. The Multi-sig team will send Mars, Earth, Mercury, Pluto, and Moon planet tokens from the Founder’s DAO Vault (0x580A96BC816C2324Bdff5eb2a7E159AE7ee63022) to the hot wallet controlled by @sAndElf#8691 (0xC960c269a07baA996d1AbF9E82CA4Ca76AF38697).
5. The Planet tokens will be held in the secure hot wallets for a period of 60 days. If, at any point during this time, the community wishes to return the tokens to the vault, a proposal must be submitted and passed.
6. At the conclusion of 60 days, or after another proposal is passed deeming so, @bennydlowkey#1164 and @sAndElf#8691 will send all Planet tokens held in the secure hot wallets back to the vault (0x580A96BC816C2324Bdff5eb2a7E159AE7ee63022).
7. After the Planet tokens have been returned, the proposal will be considered complete. To cover any gas fees associated with the transfer of the Planet tokens, the Multi-sig will send @bennydlowkey#1164 and @sAndElf#8691 eth in the amount of gas fees incurred. Additionally, the Multi-sig Committee will send 3 MP2 tokens from the Founder’s DAO Vault (0x580A96BC816C2324Bdff5eb2a7E159AE7ee63022) to both @bennydlowkey#1164 and @sAndElf#8691 as compensation for liability incurred.
Benefits: We are able to fulfill our mission of community driven investment by giving our members the opportunity to have a voice in upcoming proposals.
Drawbacks: Security of assets is a potential drawback. The wallet owners are signing contracts and taking on some liability, but are ultimately using clean and secure wallets, on clean and secure devices, in order to ensure the highest level of security possible for this temporary solution.
Outcomes: Planets will be moved to secure hot wallets. The community will have the opportunity to use those planets to cast votes on upcoming proposals. When it appears as though the “big important” proposals are complete, the planets will be returned back to the vault.