Summary

Update the framework for future multisig signers rotations.

Context

The Paladin DAO manages 4 multisigs on different chains:

• Main Treasury on Ethereum (Active since July 2022)
• Strategic Assets on Ethereum (Active since July 2022)
• Treasury on Arbitrum (Active since May 2023)
• Treasury on Polygon (Active from January to September 2023)

The first signers were elected in PIP-4 (July 2022) and were rotated twice in PIP-9 (Jan 2023) & PIP-15 (September 2023). However, rotation currently happens once a signer has been unavailable for a long period and aims to replace him only.

Rationale

Current rules

• Threshold 5/9 signers
• Any member unable to sign during 5 weeks should be excluded from the multisigs.

This proposal aims to improve the efficiency of signing sessions by fixing a rotation period, and changing the method to renew signers based on their participation rate in order to evaluate them all. This is inspired from the method used in Jarvis DAO rotations.

Introduce a rotation period

Instead of proposing a rotation when someone is inactive during 5 weeks in a row, the rotations could be done periodically (every 6 months according to forum poll unless if too much bad signers + resignations, in which case it can be reduced to 3 months.

Base rotations on signers participation rates

This method defines the amount of transactions to watch since the last rotation across all multisigs and calculates the % of the total transactions signed / signer.

New rules proposed

• Top 5 signers are auto renewed if they agree.

• Middle 6-7 must recandidate, so they could be changed if new candidates are elected

• Bottom 2 are auto kicked for at least one period if participation is below 45% (can be up to bottom 3)

• Max 4 signers can be rotated at the same time, both reasons included (kicked or resignation)

• If two are kicked, up to 2 can resign during the same period. If 3 are kicked, only one can resign.

• Rotation period will happen every 6 months but could be exceptionally reduced to 3 months for a period if all resignations can’t be done when required or if there are more than 4 bad signers.

If this proposal is approved, another PIP will be submitted for the next rotation with an analysis of the signing stats of the current period.

Means

None

Technical Implementation

Stats can be obtained easily with OnChainDen which doesn’t require extra implementation.

Voting Options

• Yes, Implement new framework
• No, Rework proposal
• Abstain