Establish the process of transferring funds from ETH mainnet treasury to the OP treasury on an as-needed basis for contributor distribution as a regular procedure, following last month’s successful implementation.
LXDAO community members have long been concerned about the high costs of distributing funds on the mainnet. Despite over 60% voting in favor of a proposal to transfer treasury funds to OP with no opposition, it unfortunately did not reach the 70% consensus threshold due to some governance participants being inactive.
However, the voting results showed strong approval for the proposal. We changed the process to transfer all treasury funds on-demand and successfully tested OP distribution in the last round of contribution rewards. The proposal discussion received unanimous community approval.
Therefore, I formally propose to establish the October 17th test process as a regular procedure: each month, the budget for that period will be transferred from the mainnet to the OP treasury by a trusted executor, and then distributed by the same multi-signature guardians as on the mainnet.
This process will continue until a new governance system is launched, as discussed in the following post:https://forum.lxdao.io/t/lip32-add-to-dao-haus-and-the-establishment-of-a-system-of-representative-councils-draft/1229/5
- The mainnet treasury (0xB45e9F74D0a35fE1aa0B78feA03877EF96ae8dd2) will transfer the required expenditure for the next period to the trusted executor’s EOA account.
- The trusted executor will transfer the funds to OP via cross-chain or CEX.
- The executor will then transfer the funds to the OP provisional treasury (0x2C6360a6a376111fe004F50086b05D0d1596F24F).
- The multi-signature guardians will officially begin distribution from the OP’s Safe wallet.
Executor Marcus has received funds from the mainnet treasury and transferred them to CEX:
Executor Marcus’s record of transferring funds to OP via CEX:
OP Treasury History Record:
Please share your opinions about this proposal. I plan to initiate a Snapshot proposal on December 7th, with voting ending on December 14th.
- I’m not sure