The Path of Evolution with DOT #1

1

Title: The Path of Evolution with DOT #1

Co-Authors: Rolldawg, bennydlowkey

Type: Action

Implementer: Multi-sig team, Rolldawg

Created Date: December 25, 2022

SUMMARY

This proposal seeks to permit the members of the Pixel Vault Founder’s DAO multi-sig team to engage with the FoundersDAO wallet (Wallet: 0x580A96BC816C2324Bdff5eb2a7E159AE7ee63022) to evolve DOT #1 to the maximum level.

ABSTRACT

What: The Pixel Vault Founders DAO having been awarded the first-ever DOT, ID #1, will lead the community and evolve DOT #1 through every EVO tier, so long as the Founder DAO possesses the means available to do so. The DOT Evolution process is dynamic and time-gated so several provisions are included to ensure the evolution process can be accomplished.

Why: The Founders DAO is the leader of the Pixel Vault ecosystem in actions, ideas, assets, and community. As such DOT #1 should be one of the lynchpin assets in the Founders DAO and through evolving to EVO6 and 7 it will achieve this status.

Who: Multi-sig team will be utilized for transactions out of the Founders DAO wallet. Rolldawg will execute evolutions and transfer DOT #1 back to the FoundersDAO wallet.

How: DOT #1 is currently at EVO1. To achieve EVO6, 31 additional MP2 must be used to complete the proper evolutions. Once this proposal is passed DOT #1, 31 MP2 and 175 $APE (approximately 0.5 ETH to be used for gas) will be transferred to Rolldawg in a “fresh” wallet. Rolldawg will evolve DOT #1 during each evolution phase prior to Anomaly Events. Once DOT #1 is EVO6 Rolldawg will transfer DOT #1 back to the FoundersDAO wallet.

POSITIVES

DOT #1 will be at maximum level in the Pixel Vault Founders DAO vault. This allows the possibility of DOT #1 being used in future Pixel Vault games. Potential passive or active earning in future Pixel Vault games. The intangible benefit of having evolution party spaces, discord events, twitch streams, or other community-coordinated events in association with the evolution of DOT #1.

RISKS

Trust in Rolldawg with FD assets leads to inherent risk that cannot be mitigated in a web3 environment. However, Rolldawg has been shown to be a trusted member of the Founders DAO. $APE will be swapped for ETH to pay for gas during the transfer and evolution of assets. There is no guaranteed return on investment of burning MP2s for the evolution of DOT #1.

OVERALL

Execution steps for voting option 1:

  1. Once this proposal passes DOT #1 and 31 MP2 will be transferred to Rolldawg. Rolldawg will continuously evolve DOT #1 to the highest EVO tier prior to any Anomaly Events. Once evolved to EVO6 Rolldawg will transfer DOT #1 back to the FoundersDAO wallet.

Execution steps for voting option 2:

  1. Once this proposal passes DOT #1 and 1 MP2 will be transferred to Rolldawg to allow Rolldawg to evolve DOT #1 to EVO2 immediately. Once evolved to EVO2 Rolldawg will transfer DOT #1 back to the FoundersDAO wallet.
  2. Once the EVO3 evolution window opens DOT #1 and 2 MP2 will be transferred to Rolldawg to allow Rolldawg to evolve DOT #1 to EVO3. Once evolved to EVO3 Rolldawg will transfer DOT #1 back to the FoundersDAO wallet…
  3. Once the EVO4 evolution window opens DOT #1 and 4 MP2 will be transferred to Rolldawg to allow Rolldawg to evolve DOT #1 to EVO4. Once evolved to EVO4 Rolldawg will transfer DOT #1 back to the FoundersDAO wallet.
  4. Once the EVO5 evolution window opens DOT #1 and 8 MP2 will be transferred to Rolldawg to allow Rolldawg to evolve DOT #1 to EVO5. Once evolved to EVO5 Rolldawg will transfer DOT #1 back to the FoundersDAO wallet.
  5. Once the EVO6 evolution window opens DOT #1 and 16 MP2 will be transferred to (executor) to allow Rolldawg to evolve DOT #1 to EVO6. Once evolved to EVO6 Rolldawg will transfer DOT #1 back to the FoundersDAO wallet.

Voting option 3: DOT #1 will not be evolved by this proposal. Nothing happens.

Voting option 4: Abstain.

2

this absolutely needs to happen in some form but some issues that jump to my mind are:

  • having too many ‘hot’ DAO wallets floating around, this would be the 3rd one created in the space of 3 recent proposals. Surely it would make sense to use the same ‘DOT wallet’ as for the Bracket proposal assuming that passes?
  • who has the keys to these, it cannot just be one person. 2-3 makes sense from a basic common sense POV
  • from a security POV it seems a risk having assets sitting in a hot wallet for 5-6 months. So might be a pain but sending the DOT back to the multisig after every evo until the next one goes live seems sensible.
1 Like
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-too many hot wallets
My reasoning to doing seperate hot wallets was to keep each proposal segregated to not cross streams. I don’t think it would be very likely, but accidentally burning #1 while burning 16+ other DOTs in the bracket challenge was a risk I wanted to remove from the equation.
-one person with keys
I agree and will add provisions for this. But need to figure out who/how.
-sitting for 5-6 mo.
Those are the voting options to be included, either: 1) return to the multi-sig after every evo 2) hold in the same wallet

Thanks for the great feedback!

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I just received a brand new hardware wallet that I plan to dedicate to DOT #1’s evolution.

5

Good discussion regarding many hot wallets. Maybe a potential solution is that we open up another multi-sig with fewer signers or something like that which would work as a hot wallet, but that sort of defeats the purpose of it being faster and easier + it would cause issues if contracts aren’t allowed to perform the action we need.

Anway back to the proposal. It is missing a section about returning the gas money to the foundersdao.eth wallet, but other than that it looks good imo. Probably a bit late to add that now since the proposal is already pending and I don’t have any trouble believing that rolldawg will return the remaining gas funds after all evolutions have been executed even if it is not explicitly stated in the proposal.

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7

Good point. I will return all unused ETH to the FoundersDAO.eth wallet. I didn’t plan or have any intention to keep any extra for myself.
Also, I intentionally did not include rewards for myself in this proposal. The content challenge is currently active and I hope that would be used as a reward for this without requiring additional assets from the vault.
So keep me in mind when it is time to vote! :wink:

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Why do we need to move them out of the multisig to begin with? You should be able to do the transactions using the Safe wallet, just have to get the signers together for a signing party.

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I asked that question and this was the response I got:
“PV going to be best to help us answer this, I really don’t know. Prior to our recent yuga sale proposal I was just a signer, I’m only now getting involved in understanding what we can and cannot do with the multisig. We are still pending understanding on how to send an mp2. Idk if that’s just my lack of knowledge on it or if it requires more advanced interaction direct to contract.”
https://discord.com/channels/835244823857332245/841099058743345163/1061702443609632909

Multi-sig has provided a lot of challenges, this proposal was meant to provide an alternative to those challenges.

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Understood. I am pretty confident that we can do this directly in the multisig. I have done numerous Gnosis multisig transactions whether its claims or DEXs. The only real difficulties with Gnosis come from doing gasless signatures to login to things like Opensea OR if the site in question doesn’t support Wallet Connect (there is a way to do direct contract txs in that case).