Governance
What needs to be governed?
Trust
Scam artists will not be going away anytime soon. And projects posing as scams will still be around, despite how much effort can be introduced in curbing them.
A trustless code secured by smart contracts will be the way forward. However, when smart contracts are breached, massive financial losses usually follow as well.
For Robinos, we've decided to sit in the middle, between conventional plans and simple smart contracts.
Gnosis Safe powered Treasury
Adopted from Dbook Platform, Robinos will be using fund guardians to ensure the safety of funds held in Robinos.
Revenue will be held in the Treasury and controlled by 5 wallets - 2 from the team, and 3 from each assigned fund guardians.
For a fund withdrawal to be approved, a minimum of 4 out of 5 signatures will be required to sign for a transaction. This would ensure that the team will not have the ability to handle fund withdrawals themselves with only 2 wallets controlled.
Process Flow of withdrawal from Treasury
One team member will need to propose to all fund guardians on a potential fund withdrawal from the Treasury, explaining the purpose of the withdrawal and any additional information required.
The team member will proceed to create the transaction on Gnosis Safe, for the required funds to be withdrawn to the designated destination.
Fund Guardians will be notified, to permit the withdrawal by signing approval or rejection on the proposal. At least 2 out of 3 fund guardians will be required to sign on the transaction.
After step3, the other team member or the third fund guardian will sign, and execute the transaction
Transaction completed/rejected.
This process flow will ensure that fund withdrawal will need to be approved by the fund guardians. Any illegal, or suspected illegal fund withdrawal can be stopped by the fund guardians, and fund guardians have the right to request more information before signing on the transaction.
Fund Guardians
As the name suggested, fund guardians will be around to protect the funds from the community.
Fund Guardians will need to submit personal information to the team when applying to be a fund guardian.
After the submission, fund guardians will also need to go through a short training provided by the team. This is to ensure that the fund guardian will be capable of approving and rejecting transactions on their own.
Fund guardians with low or zero understanding of the purpose and reason of multi-signature treasury or fund guardians will, unfortunately, be rejected as fund guardians.
Common Question: What if fund guardians decide to rug the treasury together?
Answer: As each transaction requires 4 out of 5 signatures to proceed, fund guardians, who collectively own 3 wallets altogether, will still need another signature to ensure the transaction from going through. Even though unlikely for 3 fund guardians to band together for the rug, it will still require one more signature from the team for this to be approved.
The above will be a highly unlikely situation, but it could still potentially happen. And thus, a few protection measures:
Identity check on all fund guardians.
Fund guardian random rotation weekly.
Recruit a high number of fund guardians.
With a higher number of fund guardians and a random rotation, any suspicious behavior can be reported early and thwarted.
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