YIP-62: Change Two Multisig Signers

[tracheopteryx]

Authors

@banteg @lehnberg @milkyklim @tracheopteryx

Summary

A proposal to exercise the ‘Change Multisig Signers’ power held by YFI holders as defined by Governance 2.0[1] in order to change two signers who have served yearn well and rotate in fresh blood to improve signing speed.

Status

This proposal is currently in the voting phase. Cast your vote on Snapshot.

You can learn about our voting rules in YIP-55[2].

Abstract

If adopted, this proposal will:

• remove @Substreight (Joe Mahon)[3] and @tchitra (Tarun Chitra)[4] as multisig signers
• add @RyanWatkins[5] and @Lumberg (Leo Cheng)[6] as mulitsig signers

Motivation

Serving on the yearn multisig is hard work, we should rotate signers regularly and ensure that all signers are reasonably active and available to keep signing speed and engagement high. Both Substreight and Tarun have agreed to step out and Leo and Ryan have agreed to step in.

Big thanks to everyone on the multisig, this adjustment should not be seen as a critique in any way. We are all busy and appreciate all the work this group does.

Analysis of multisig signer activity as of 26 April 2021

Specification

To execute the transition we don’t need to change the threshold, just execute 2 sequential multisig transactions:

1. Replace 0x6626593c237f530d15ae9980a95ef938ac15c35c (Tarun) with 0x757280Bd46fC5B1C8b85628E800c443525Afc09b (Ryan)
2. Replace 0x50B0C406a5C1fC492F84c3F3D4552391cF4672f2 (Substreight) with 0x7321ED86B0Eb914b789D6A4CcBDd3bB10f367153 (Leo)

Vote

Non-Binding Forum Poll

• Yes, I support this proposal.
• No, I am against this proposal.

Binding Snapshot Vote

https://snapshot.org/#/ybaby.eth/proposal/QmddCbGYbkooZ1zp8oYnbBz6frXLRc9xbkapXcuZcdzmMF

References

[1] http://gov.yearn.fi/t/yip-61-governance-2-0/
[2] YIP-55: Formalize the YIP Process
[3] https://twitter.com/Substreight/status/1299780260737630209
[4] https://twitter.com/gauntletnetwork/status/1299778153674616833
[5] https://twitter.com/RyanWatkins_
[6] https://twitter.com/leokcheng

[kx9x]

Need signers to be highly available to be able to have a strong OPSEC, so rotating makes sense to me. Thank you for your service Tarun and Joe! Thank you for stepping up Ryan and Leo!

[dudesahn]

Love this, rotating makes sense, and Ryan and Leo will both be strong additions.

[ekrenzke]

Thank you @Substreight and @tchitra for your hard work!

Polychain is supportive of this change, pending further community diligence, verification from the proposed signers across appropriate social media channels, and operational security onboarding (as previously mentioned by @kx9x). Both @RyanWatkins and @Lumberg have demonstrated integrity and have played an active role in the success of YFI thus far, so we view this proposal as non-controversial.

I had the pleasure of working with @RyanWatkins (and others) on YIP-57. He was instrumental in steering the conversation with the community and the proposal working group. While I have not worked with @Lumberg personally, I have been impressed by the CREAM (i.e. Iron Bank) integration and supportive of this motion to more closely align the interests and responsibilities of both parties in multisig governance.

[silent_avenger1]

Thanks to the signers for their integrity and service. Excited to have @RyanWatkins volunteer for this new role. Value added!

[Eagle]

I fully agree! Thanks to everyone for the hard work

[tracheopteryx]

Binding snapshot vote is now live and will be ongoing for 5 days.

VOTE HERE