This proposal seeks to establish a multisig wallet to manage the Starlay Treasury using Astar Safe. Currently, the core contributors manage the private keys for the Treasury, which presents an inherent risk. This proposal suggests that Neo, David, Artat, PNP, and Seiya should collectively manage the wallet with a system that requires approval from at least three of these individuals to move funds. As a first step, the core contributors and Community Head PNP, representing the community, will participate. In the future, I think it would also be great to delegate these keys to appropriate community members or representatives from Astar or Aleph Zero, according to the governance result.
On the current operation flow, some contributors has too strong privilege to move funds, which potentially poses a risk to the security and stability of Starlay. It is essential to decentralize this management for the sake of resilience, transparency, and inclusivity. I believe this this would be a big step for DAO.
The Astar Safe multisig wallet will be utilized to secure Starlay’s Treasury. Five key holders (Neo, David, Artat, PNP, and Seiya) will manage the wallet, with any transaction requiring signatures from at least three of these individuals. This system ensures a more secure and democratic management of the funds.
Implementing a multisig wallet for Treasury management brings about enhanced security and minimizes the risk of loss due to malicious activities or human error. It also promotes a more democratic approach to fund management, ensuring community involvement and transparency.
The new system should be implemented immediately after the proposal receives approval from the community.
The primary risk associated with this change is potential disagreements between key holders, which could lead to deadlock situations. However, the requirement of three signatures out of five reduces this risk considerably, ensuring operations will continue even if a consensus cannot be reached among all key holders.
The next step is to initiate a discussion on this proposed governance structure here. We invite all community members to provide their feedback and suggestions. After a thorough discussion, we will put the proposal to a vote via Snapshot.
Snapshot Voting: July 29th, 09:00 UTC - August 1st, 09:00 UTC.
YAE - Approve the proposal
NAE - Reject the proposal