Status: Proposed Authors: @PrairieFi, @Matthew_Graham and @ElliottWatts Created: 28th October 2021 Discussion to: https://gov.indexcoop.com/t/iip-99-update-operations-account-multi-sig-2/3044 Quorum: 109,069 [2,181,385*0.05]

Simple Summary

This proposal seeks to modify the signers on the Operations Account Gnosis Safe.

Operations Account: ‘0xFafd604d1CC8b6B3B6CC859cF80Fd902972371C1’

Abstract

The Operations Account multisig was created with IIP-46: Security - Operations & Investment Account and updated as shown below:

• IIP-46: Security - Operations & Investment Account
  • Create an Operations Account
• IIP-54: BED:ETH Liquidity
  • Add overanalyser in a new role as V3 Liquidity Manager, signers 3 of 5.
• IIP-88: Update the Operations Account Multisig
  • Remove DarkForestCapital, remove overanalyser, add PepperoniJoe, add oneski22, add pujimak_in, add MrMadila and add cavalier_eth. Signers 3 of 8.
• IIP-XY: Update the Operations Account Multisig
  • Add @Elliottwatts, @Ncitron and add @hammad1412. Signers 3 of 11.

In this proposal Finance Nest recommends adding @Elliottwatts a lead within the Finance Nest, @Hammad1412 the primary responsible person for the contributor rewards process and @Ncitron the all star Index Coop developer who will be providing technical support along with @dylan who played a critical role in enabling Index Coop to get the BED:ETH liquidity implemented.

Motivation

The Operations Account holds over $1.6M today and in the future we expect this to grow significantly. Streaming fees from products are to be routed to the Operation Account. We anticipate and expect over time the Index Coop to move towards utilising the Operations account for regular expenses, such as contributor rewards distribution, we are expecting to make the first distribution from this account on 5th November. At Finance Nest, we believe it is important to have the community awareness and support via IIP regarding the signers of this account.

With @Elliott as a lead within the Finance Nest and @Hammad1412 being the primary owner of how Funding & Payroll is administered there is a need to add those managing the contributor rewards distribution to the mult-sig. This will enable the process owners to be fully accountable the entire length of the process from interacting with individual community members all the way through to distribution of funds. The intent is to streamline operations and align accountability with process ownership. It is also essential for these members to have exposure to the ParcelDAO interface which can only be accessed through being a signer on the multisig.

We are also taking this opportunity to add @Ncitron to the multisig giving the wallet more coverage from EWG as both @Dylan and @Ncitron are incredibly busy and having someone with their skills on-hand when performing some of the less frequent transactions is a great benefit. @Dylan was pivotal to depositing the BED:ETH liquidity and this highlighted the need to have more robust developer support.

Specification

Modify the above linked Gnosis Safe:

• Add @Elliottwatts (Finance Nest)
• Add @Hammad1412 (Finance Nest & TOC WG)
• Add @Ncitron (EWG)

The wallet will still only require 3 signers to approve a transaction, 3 of 11.

The new signer structure will be:

Location	Roles	Operations Account
United States America	Funding Council	@dylan
United Kingdom	Funding Council	@PepperoniJoe
United Kingdom	Finance Nest	@Matthew_Graham
United Kingdom	Finance Nest	@Elliottwatts
United Kingdom	Finance Nest & TOCWG	@Hammad1412
United States America	Operations Account Manager	@prairiefi
United States America	Metagovernance	@oneski22
United States America	Engineering	@ncitron
United Kingdom	Growth	MrMadila
APAC	Product	cavalier_eth
APAC	APAC Business Development	pujimak_in

Copyright

Copyright and related rights waived via CC0.