TIP 29: Threshold DAO funding for the Relay Maintainer v2
Token Holder DAO, Snapshot
DAO Elected Representative Sponsor:
This is a proposal to request that the Threshold DAO take ownership of the relay maintainer on a timeboxed period of 5 months starting on July 1st.
This means monitoring ETH levels on the maintainer and topping up as necessary.
Milestones and Deadlines:
Monday June 20th, 2022 TIP 29 hits the forum
Thursday June 23, 2022 TIP 29 moves to a 5 day snapshot
If passed, starting July 1st the Threshold DAO will be responsible for upkeep of the relay maintainer
Who is Involved:
This proposal directly involves Keep, the Threshold Treasury Guild and the Threshold Council.
Furthermore, this proposal nominates Ben (ZeroInFo56) to take lead on monitoring ETH funds in the relay maintainer and keeping the Treasury Guild up to date with said information.
The relay maintainer is a public good. Up to this point the Keep team has burdened the cost. Moving this cost to the DAO allows Keep to allocate resources more impactfully which will ultimately positively impact the DAO and the protocol.
Community discussion on this topic leading up to this proposal occured in the #governance channel on Discord, at multiple DAO meetings and on the first TIP-28 proposal on the forum.
Starting with the month of July the Threshold DAO will take ownership of the relay maintainer for a timeboxed period of 5 months. Specifically, the Threshold Treasury Guild will be responsible for executing top ups on the maintainer in ETH. In the past, the maintainer has been topped up on a 2 week candece. However, the Threshold Treasury Guild can determine its own top up cadence.
5 months was chosen as a timebox period because that lines up with the timeline for launching tBTC v2, the new relays, and the projected timeline for fully sunsetting v1 where the current relay isn’t needed any longer.
The total cost per month is variable but breakdown of the cost for previous months is:
This proposal calls for transfer of ownership on the relay maintainer to occur starting in July so that there doesn’t have to be backtracked ETH refunds for the month of June which introduces cost conversion complexity that the DAO expressed a desire to avoid.
I appreciate support for this proposal.