CoW DAO

CIP: 31
title: Change CoW DAO's (cow.eth) Snapshot space settings
author: @middleway.eth
status: Active
created: 2023-09-08

Simple Summary

This proposal aims to remove admins and authors from CoW DAO’s Snapshot space, add community moderators, and introduce a token threshold for submitting new proposals. In order for the DAO to better handle Snapshot space setting in the future, it is proposed to change the snapshot text record on cow.eth where the snapshot space settings are defined. Replacing the IPNS record link, to an IPFS record link pointing to a JSON file with the full space settings will make cow.eth the sole owner that is able to change the snapshot settings. In addition it is proposed to extend cow.eth domain registration by 6 years securing it until 2030, costing roughly 2.4 ETH.

Motivation

It is assumed that changes proposed in this proposal will benefit CoW DAO by increasing access and removing choke points for posting snapshot proposals. It will also reduce exposure to changes in the Snapshot space settings by limiting root access to the CoW DAO Safe itself.
This will be done by removing all Snapshot admins, making CoW DAO’s Safe the sole admin that can change the cow.eth snapshot space settings, by way of onchain transaction to change the snapshot text record. This will remove the risk of snapshot setting being changed by a single admin without authorization from the DAO.

It is proposed to set 10k COW voting power score as defined by cow.eth snapshot space voting strategies, as the minimum threshold holding to post a new proposal on Snapshot. This will allow anyone holding that amount to post new proposals in the snapshot space, making the technical governance process more inclusive and open.

As seen in other Snapshot spaces (for example gnosis.eth) this approach sometimes results in spam proposals or proposals that do not comply with the governance precess requirements. In order to mitigate this problem, it is proposed to add community moderators who will have the power to filter such proposals as needed, mitigating spam or non-complying proposals who might be submitted by any COW holder with the required holding threshold. To clarify, snapshot space moderators can only add and remove proposal but don’t have access to any other action on the space including settings changes.

Specification

The snapshot text record on cow.eth will be changed to an IPFS record which includes the proposed snapshot space settings:

• Removing admins
• Removing authors
• Adding three moderators

In addition, the treasury team will be tasked with extending cow.eth registration by 6 years.

Rationale

Using an IPFS record defining snapshot settings makes it easier for the DAO to make changes to the snapshot space settings using a secure and transparent onchain process. This can be done by the DAO through oSnap proposal or by Safe signers if needed. Extending registration of cow.eth will help avoiding a situation the DAO losing access to this domain.

Execution

• Repo (link) including the JSON file copied from CoW DAO’s existing settings (link)
• JSON file hosted on IPFS (link)
• Testing space (cowtesting.eth) configured with the above IPFS file in its snapshot ENS text record (link)
• Proposed moderators:
  • Core team: 0x387fe763ddac7a6b568ee344fefc31f626bc837b
  • Core team: 0xa312c2ae6a06504cbebe89468e6f9dc01c8b23d4
  • Community mod: 0xF44217A8b6b3f258BFFEaD635c226528aa516aea

The registration extension of cow.eth domain will be requested to be executed by the treasury management team on behalf of CoW DAO because registration fee is calculated based on a USD/ETH oracle which might cause failure of the transaction if the price deviates during proposal process.

Safe Transaction Data

Created using the ENS Safe App

{
  "version": "1.0",
  "chainId": "1",
  "createdAt": 1696242455666,
  "meta": {
    "name": "Transactions Batch",
    "description": "",
    "txBuilderVersion": "1.16.3",
    "createdFromSafeAddress": "0xcA771eda0c70aA7d053aB1B25004559B918FE662",
    "createdFromOwnerAddress": "",
    "checksum": "0x11c377d08b42682bb30c334e2fcb1d4eaf106440595d4be1b280243f4c594c8b"
  },
  "transactions": [
    {
      "to": "0x4976fb03C32e5B8cfe2b6cCB31c09Ba78EBaBa41",
      "value": "0",
      "data": null,
      "contractMethod": {
        "inputs": [
          {
            "name": "data",
            "type": "bytes[]",
            "internalType": "bytes[]"
          }
        ],
        "name": "multicall",
        "payable": false
      },
      "contractInputsValues": {
        "data": "[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]"
      }
    }
  ]
}

Tenderly Simulation

Simulation link