Proposal #4: Snapshot & Multi-sig holders

Lion’s Mane has recommended the following proposal to the DAO based on the previous post: Snapshot Voting & Multi-sig holders. Lion’s Mane has recommended the applicants listed based on their credentials given in the reply thread to the same post.

If DAO members are in favour of the recommendation, a formal Governance Proposal to the DAO must be made and approved to appoint the multi-sig holders and integrate Snapshot.


Snapshot is a “gasless” off-chain multi-governance client which aims to cultivate efficient governance, by removing costs incurred by governors for casting votes. Incorporating Snapshot within Tracer DAO is an idea which has been broadly supported by the Tracer community here: Snapshot Voting & Multi-sig holders.

Multiple multi-sig wallet holders must be selected to relay the result of a Snapshot vote. These holders are to be trusted with executing the results of an off-chain Snapshot vote for a particular proposal to be pushed on-chain.

This proposal, if passed, will action 3 items:

  1. Integrating the Snapshot service into the Tracer DAO ecosystem to cultivate a more efficient governance process;
  2. Creating the ability for the Tracer DAO contract to implement multi-sig functionality; and
  3. Voting in trusted multi-sig wallet holders for Tracer DAO to relay Snapshot voting results on-chain.


Engaging Snapshot’s services are of no cost to Tracer DAO. Multi-sig holders that are voted in will not receive any remuneration. These holders should be purely motivated to fulfil their duties on the premise that they would like to see the Tracer project succeed. If deemed appropriate by the DAO, the future performance of the multi-sig holders may be remunerated retrospectively.


If engaged by Tracer DAO, Snapshot will enable a more efficient governance system, which will be accessible via a dedicated governance interface (Tracer DAO).

The following DAO members have stepped forward and gained support as multi-sig holders in the thread here: Snapshot Voting & Multi-sig holders.

# Name Credentials Address
1 Magnus
  • In the Blockchain space since 2013 - Engineering/Economics background;
  • Runs a private Crypto focused trading fund.
2 Chris Berg
  • Academic and research team leader at RMIT University’s Blockchain Innovation Hub - specialising in blockchain governance, voting, regulation and cryptoeconomics;
  • Co-author of the Tracer Whitepaper;
  • Co-founder of Institutional Cryptoeconomics as an academic sub-discipline at RMIT University.
3 Sinclair Davidson
  • Professor of Institutional Economics - RMIT Blockchain Innovation Hub;
  • Co-founder of Institutional Cryptoeconomics as an academic sub-discipline - RMIT;
  • Researcher of public policy - regulation & taxation;
  • Expertise in corporate finance (PhD) and asset pricing (Masters).
4 Jason Potts
  • Co-founder of Institutional Cryptoeconomics as an academic sub-discipline - RMIT;
  • Professor of economics - RMIT;
  • Co-founder of Blockchain Innovation Hub - RMIT;
  • Chief Investigator at the ARC Centre of Excellence in Automated Decision Making and Society. Research centre for automated governance;
  • Long track record with scientific society involvements;
  • Editor of the Journal of Institutional Economics - publishes on cryptoeconomics.
5 David Roon
  • CTO of Openlaw;
  • Actively works on DAOs;
  • Has worked with Snapshot previously.
6 ChainLink God
  • Chainlink Community Ambassador;
  • Well versed in the DeFi ecosystem.
7 Adam Levi
  • Co-founder/former CTO of DAOstack.

Technical Implementation of Proposal

In order for Snapshot to be engaged to provide the services described here, the following targets and relevant proposalData must be passed to the DAO, via Proposal, by a current DAO member, in order to facilitate the execution of that Proposal. For each piece of Proposal data provided, the function encoded data that must be passed into the DAO is present, as well as the parameters and function calls used to generate this data. By utilising a package such as web3, any DAO member may verify this data using the web3.eth.abi.decodeParameters function (web3.eth.abi — web3.js 1.0.0 documentation).

The steps that the DAO must execute are as follows:

  1. Upgrade the DAO proxy to use the new DAO logic contract implementing multi-sig functionality.
  2. Initialize the multi-sig address of the DAO contract.

The following is the data that must be passed to the DAO, via Proposal, as well as the relevant raw data in order to verify the correctness of the Proposal data.

Step 1

Name: Call upgradeTo at the DAO proxy.

target: 0xA84918F3280d488EB3369Cb713Ec53cE386b6cBa (DAO proxy address)

proposalData: 0x3659cfe60000000000000000000000003ad0a0814f5fd76be6bdc0b771df98aafd572107

raw data :

  • Function: upgradeTo
  • Parameters:
    • Type: address
    • Name: newImplementation
    • Value: New logic contract (0x3ad0a0814f5fd76be6bdc0b771df98aafd572107)

Step 2

name: Initialize the multisig address in the DAO contract.

target: 0xA84918F3280d488EB3369Cb713Ec53cE386b6cBa (DAO proxy address)

proposalData: 0x66630bac00000000000000000000000013309c4e935343d106db91f0a0e39368baeaf6f6

raw data :

  • Function: initializeMultisig
  • Parameters:
    • Type: address
    • Name: _multisig
    • Value: multisig wallet (0x13309C4E935343d106dB91f0A0e39368bAeaf6F6)

Formal proposal created here: Proposal #4 Snapshot & Multisig holders

1 Like

Proposal was executed on-chain and pushed as an old formal proposal by @thomas - dated 17/03/21.