Yam

Basic Summary

We need to provide liquidity to our New LSP synths on Polygon when they are ready. In order to do this we must set funds from the treasury, which lives on Ethereum mainnet to polygon, and then manage those funds there. Those funds will be managed with the existing multi-sig that we have deployed on Polygon. In order to increase security, we should upgrade the multi-sig from 2-3 to 3-5.

Abstract - What am I proposing?

While we work on a longer term, and more decentralized solution, I propose that we send all funds that we plan to use for Polygon liquidity to our existing Polygon multi-sig (https://polygonscan.com/address/0x5553b79f4ee172e76537fd6a43629c44f6034f18) and use it to perform all actions necessary to provide liquidity for Yam Synths.

At the same time, in order to improve the security of this wallet, we should upgrade it from a 2-3 multi-sig to a 3-5 multi-sig.

The current signers for the multi-sig are @ethe, @flygoing.eth, and @HodlDwon. I propose we expand that list to include @ross and @Snake.

Motivation - Why am I proposing it?

There is easy way to extend the governance functionality that we currently use on Ethereum L1 onto polygon. There are some new solutions available that may work for the task, but they are not going to be possible to implement in the timeframe needed to perform the liquidity allocation mentioned above. We currently have a multi-sig on polygon that we can use. Because the amount of money that it will control is higher than what was previously assumed for the comethSwap program (what it was approved for), I am recommending we add 2 additional signers to increase security.

All signers are on, or have in the past been on the core team and are known around the community.

Specifications

In order to update the multi-sig, the existing signers would need to modify the existing multi-sig to add the 2 new signers.