Multisig Amendment Proposal #1: Add XGozzy and Bt11ba as 4-of-5 Signers

The snapshot is now live. Quorum is 5k TORN. You can vote for free off-chain now: Snapshot

Background

Proposal #7 successfully setup a community multisig treasury funded with 5% of the overall TORN available to governance. The multisig was funded with 22,916 TORN + 4,583 TORN every month for 12 months. The initial elected members were @Rezan, @ethdev and @Justin_Bram forming a 2-of-3 multisg. 2-of-3 is a rather low threshold creating a risk of collusion. Initially, when making the proposal it was hard to find community members committed enough to join the multisig. Since the proposal passed, attention was brought to the idea and new members have manifested their interest to join the multisig. The address of the multisig is: 0xb04E030140b30C27bcdfaafFFA98C57d80eDa7B4

The proposal

Adding 2 new members to the multisig and upgrading the threshold to a 4-of-5. The new threshold will lower the risk of collusion and is more in line with the amount at stake.

Being member of the multisig includes a remuneration of 100 TORN per month. The remuneration counts for the work of multisig signer AND the various contributions of the member to the Tornado ecosystem. It is expected more from the members than just signing a few transactions per month.

The candidates

2 solid candidates from the community have manifested their interest to join the multisig:

The vote

You can vote to accept or reject the addition of these 2 new candidates. You can vote with your TORN tokens off-chain by providing a signature. Your voting power depends on your TORN balance at block 12640816.

VOTE NOW


Post and snapshot authored by @Rezan

4 Likes

We still need 1200 torn to reach quorum.
Every people that I have contacted have their tokens stuck in LP or in governance and wanted to vote for this proposal.

Should we :

  • Lower the quorum

or

  • Make an announcement 2 or 3 days before a Snapshot, for people to withdraw their torn and be able to have it available before the block is recorded

or

  • Lower the quorum & Make an announcement

?

Fyi :

  • 278,000 torn tokens stuck in governance contract

  • 140,000 torn tokens stuck in LP

= 418,000 torn stuck that cannot vote

1 Like

No lowering of quorum, no underhanded shady shit.

I suggest we run it again but with a weeks notice in advance.

4 Likes

That is why I am asking on the forum.
Even for next snapshots, we have to make sure people can vote.

Agreed. We cannot lower quorum for this vote. But we can run the vote again with a better heads up so everyone has enough time to gather their TORN to vote.

Sorry this didn’t run smoothly everyone. This is a learning process and we’ll get better

4 Likes

I leave a significant amount of Torn in the governance contract to save on gas and didn’t know a snapshot was taking place so couldn’t vote.

We know. We realized we didn’t enable TORN locked in governance to be able to vote. Our mistake. We’re going to fix this moving forward. Sorry

5 Likes

My TORN locked in LP contract. I cannot vote unfortunately, I hope vote next snapshop for this election.
很遗憾,我没能投票。我希望能在下一轮的选举中投票。

Unfortunately, the setup wasn’t ideal. Many people had their tokens locked in governance and/or LP staking. I am currently working on a snapshot strategy to let vote gov locked tokens, LP token and staked LP tokens all together.

4 Likes

Sounds very very good!God bless you。
听起来特别棒!祝您一切顺利。