Transition of DAO Multisigs and Asset Ownership (per TIP-103)

General
1

Introduction

In line with the recent restructuring initiatives approved under TIP-092, TIP-098, and TIP-100, and as proposed in TIP-103, the Threshold restructure committee has determined that a realignment of our multisig configuration is necessary. This proposal outlines the recommended transition of multisig ownership and asset control to support our new governance framework.

Overview of Proposed Changes

  • New Ownership Structure: The Threshold Committee will become the new owner of the multisigs for the three Guilds as well as the Council.
  • Interim Transition: In the first stage, the Threshold Treasury Guild will act as the interim Threshold Committee to manage the multisig transition process.

Phase 1: Interim Transition Steps

  1. Treasury Guild Signer Replacement:
    • Replace one outgoing signer in the Treasury Guild with a new committed signer from another guild.
    • Suggestion: Swap Will for Ashley.
  2. Council Multisig Transition:
    • Replace all 9 current Council signers with the 9 signers from the Treasury Guild across all Council multisigs.
  3. Treasury Guild Multisig Configuration:
    • Update all Treasury Guild multisigs to designate the new Council multisig as the recoverer.
  4. Integrations Guild Multisig Transition:
    • Replace the 7 signers of the Integrations Guild with the 9 Treasury Guild signers.
  5. Integration Guild Recovery Setup:
    • Configure all Integration Guild multisigs to set the Council multisig as the recoverer.
  6. Marketing Guild Multisig Transition:
    • Replace the 8 signers of the Marketing Guild with the 9 Treasury Guild signers.
  7. Marketing Guild Recovery Setup:
    • Configure the Marketing Guild multisig to set the Council multisig as the recoverer.

Upon completion of these steps, the first stage of the multisig transition will be complete.

Rationale for Maintaining Distinct Multisigs

We strongly advise retaining the separate multisig configurations because each serves a specific function within the DAO:

  • The Council multisig manages protocol updates and emergency measures.
  • The Treasury Guild multisig oversees treasury management and strategic planning.
  • The Integrations Guild multisig maintains DAO tools (e.g., subgraphs) and administers a dedicated bug bounty budget.

Designating the Council multisig as the recoverer for each body ensures streamlined updates and mitigates operational risks through a simple, centralized transaction.

Phase 2: Transition to Elected Governance

  • Once the interim body has successfully transitioned multisig control, we will call elections for the Threshold Committee.
  • The elected Threshold Committee will replace the interim members.

This structured transition of DAO multisigs is designed to ensure continuity and security while aligning with our new governance framework. We welcome community feedback on this proposal and will provide further updates as we move forward with the implementation.