Snapshot Voting & Multi-sig holders

Lion’s Mane is currently finalising a governance interface for Tracer DAO, which will be released in the coming week. This interface will read and write directly on-chain to Tracer DAO smart contract CustomUpgradeableProxy | 0xa84918f3280d488eb3369cb713ec53ce386b6cba, as an alternative to DAO governors voting on proposals via Etherscan.

With the volatile and expensive Ethereum gas prices, participating in governance is costly, and may become more so. Operationally, many governance systems have been interrupted as a direct impact of the increased gas prices, where proposals take long periods of time to be passed, or are not passed at all. Single proposals for DAOs with many governors can consume thousands of dollars worth of ETH. Tracer governors will likely be looking to avoid this and therefore need to explore a cheaper solution.

One solution being used by other DAOs (including UniSwap’s Discourse, Maker and Balancer) is 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.

Proposals are created on Snapshot by connecting a multi-sig wallet (holding the project token), which creates a signed message with the following details:

  • Title
  • Proposal text
  • Voting options
  • Start/end times
  • Block number

Multiple multi-sig wallet holders must be selected to push through these Snapshot votes. 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. As a result, their reputation is of paramount importance. One general rule should be that multi-sigs should not be able to vote and determine the introduction of other multi-sigs - they should be determined by all DAO members. In a sense, the multi-sigs are a represented council or directors of Tracer DAO that work to carry out its votes.

Lion’s Mane recommends that no less than 7 multi-sig wallet holders are selected to ensure that there is no central power. Current members of the DAO should nominate themselves to be a multi-sig holder by replying to this post. The current 100 claimants will have to decide which multi-sig addresses should be voters. Lion’s Mane will recommend a list of multi-sig holders from the nominations in the reply thread and propose them to the DAO - similar process to how Alpha Testers and Governors are selected. Lion’s Mane can not and will not be nominating ourselves as wallet holders. Once consensus is found, a formal proposal should be presented to the DAO to vote these multi-sig wallet holders in. If the DAO wishes to proceed with migrating to Snapshot, Lion’s Mane anticipates that the Snapshot integration will take no longer than two weeks to implement.

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Am in support of this. Can only foresee gas prices increasing from here on out.

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I support.Even in big projects people don’t vote due gas prices

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Very happy to support and happy to volunteer to be a multisig. For the benefit of DAO members: I’m an academic and research team leader specialising in blockchain governance, voting, regulation, and cryptoeconomics at the RMIT Blockchain Innovation Hub. I’m also one of the co-authors of the Tracer Whitepaper. You can visit my personal website here.

I’ll be a reliable and truthful relayer of off-chain votes to initially support the cheaper voting framework for the Tracer DAO. I’ll also be a big advocate of ensuring that the DAO adopts a decentralised alternative - which is why I’m interested in this industry in the first place.

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Hi @chrisberg, from your given background it sounds like you’d make a great candidate.

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I would like to volunteer to be a Multisig Signer. As a bit of background, I have been in the space since 2013. I have a broad range of experiences with my Economics/Engineering background. My main function in the space is running a private Crypto focused trading fund.

Tracer deeply interests me as the platform will allow me to gain exposure to any asset/market without having to succumb to the control to the large corporations that have a monopoly in the financial world.

I believe that DAO’s are the future. They provide the freedom of choice and the ability to have your say. I have noticed that projects that have active governance participation are the ones that are performing strongly. Because of this I would like to be part of that change and help drive this progress forward.

Tracer has the ability to level the playing field and this truly excites me!

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DAO’s are definitely the future @Magnus. Always great to see likeminded individuals so passionate about the space. I feel you’d also make a great candidate as a multi-sig holder.

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Hi - very happy to participate as a Multisig Signer. I’m a full professor (of Institutional Economics) in the RMIT Blockchain Innovation Hub at RMIT University. Along with Chris Berg and Jason Potts I’m the founder of Institutional Cryptoeconomics as an academic sub-discipline. Before that I researched public policy - particularly regulation and taxation. I also have interests and expertise in corporate finance (my PhD was on this topic) and asset pricing (my Masters was on that topic). Blockchain melds together all areas of interest and expertise and active participation is how I will be learning about this new and exciting innovation.

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Hi everyone, I would also be keen to self nominate as a multisig trustee. As background I am a Professor of economics at RMIT and one of the founders of the Blockchain Innovation Hub. I am also a Chief Investigator at the ARC Centre of Excellence in Automated Decision Making and Society, which is a very large research Centre set up to explore among other things automated governance. I have a long track record of involvement with scientific societies, and am currently editor of the Journal of Institutional Economics, which publishes on cryptoeconomics.

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I think this is the right thing to do!
I’ve been working with Snapshot and it works very well. It’s great to start with a pure off chain voting with a multi sig and then, once it is ready, moving towards an on chain settlement so we don’t even need the multisig anymore.

I would love to be part of the multi sig as well.

For people who want to know who I am, I am the CTO of Openlaw and I am working actively on DAOs.

look at GitHub - openlawteam/molochv3-contracts: A new modular DAO and GitHub - openlawteam/molochv3-ui: Moloch v3 - A modular DAO framework developed and coordinated by its members if you are interested

I can even help with setting up snapshot if there are any questions regarding the strategies or how to create a space

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I would be happy to help the Tracer community and become a multisig singer. For context, I am a Chainlink Community Ambassador and well versed in the DeFi ecosystem as a whole. I want to help the Tracer ecosystem however I can and will relay the votes of the Snapshot results as the community decides the best path to go. I think using Snapshot is a smart move given voter apathy from the exorbitant Ethereum gas fees.

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My address is: 0xA6BD933F00F3fC99597BfF4B0146825A43439223

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My address: 0x06187EAA4EF0891571F0a78a2DDEf0d291555E09

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Hi @ChainLinkGod, if you could provide your address for a member of the DAO to push through for a proposal that’d be great.

Hi David @bmalaus, I’m sure that your expertise will be well valued by the Tracer DAO. If you could please provide your address for a member of the DAO to push through for a proposal that’d be great.

0x2E45F07f33703Ddd3fa9Cb7e167864B63863fe65

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It’s all happening! :eyes:

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Definitely the way to go - has been a successful model for most of the large protocols

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my address is 0xA846CaF04a0540a274FaB6993D925FA64C7A4455

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Hi all,

Adam Levi here. Co-founder and former CTO of DAOstack.

I will be happy to help the community and serve as a signer.

Best,
Adam.

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