Good Morning, I am combining the topic of the council selection into this topic for a combined PIP-22, please find below the final PROPOSAL for PIP-22:
PIP22: DAO Council and Funding Proposal: Leadership and Infrastructure Support
Summary
This proposal aims to establish a DAO Council to guide the organization’s strategic direction, governance, and community engagement, while securing funding to support a DAO-operated zone. The council will consist of active participants with diverse skills—Toxic Entity, Praetorian, and Elysium—and serve as the multisig signers for managing the proposed grant funds.
Longer Description and Purpose
The DAO requires a dedicated council to oversee key initiatives, including proposal evaluation, treasury management, community growth, and infrastructure funding. This council, comprising Toxic Entity, Praetorian, and Elysium, will operate transparently, leveraging the DAO’s decentralized framework to align with its mission. Additionally, a grant from the foundation is proposed to cover off-chain expenses (e.g., subgraph subscriptions like The Graph and decentralized storage via Filebase) critical for the DAO-operated zone’s functionality. The council will manage these funds using a multisig wallet, ensuring accountability and decentralized control.
Team Description
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Council Member: Toxic Entity (TG:@ToXiC_eHC), offering extensive experience as a community moderator for Panther Main on Telegram, Snapshot Author for Panther Protocol, and community moderator for the Panther Lounge. Additionally, I am an active tester and deployer of all V0.5 related items, bringing hands-on technical and governance expertise to drive the DAO’s success.
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Council Member: Praetorian (TG: @zkPraetorian), privacy advocate and experienced crypto user with a keen analytical mind. Active community member, moderator, tester, and passionate researcher in the decentralized space.
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Council Member: Elysium (TG: @Elysium_x), privacy advocate and experienced crypto user with a passion for technology, creativity, and philosophical exploration. Active community member, moderator, tester, and dedicated researcher in the decentralized space. Elysium blends technical expertise, creative vision, and thoughtful inquiry to help shape and inspire the future of the crypto community.
Proposed Governance Structure for Fund Management
To manage the grant and ensure accountability, the DAO Council, consisting of Toxic Entity, Praetorian, and Elysium, will oversee the funds with the following structure:
- Appointment of a Fund Manager:
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The council will designate one member (initially proposed as Toxic Entity) as the Fund Manager, responsible for receiving stablecoin disbursements from the DAO’s treasury and converting them to fiat (if necessary) to pay off-chain expenses via credit card. Praetorian and Elysium will support in oversight and decision-making.
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The Fund Manager will provide regular reports on expenditures, ensuring transparency, and is accountable to the council and community, with input from Praetorian and Elysium.
- Multisig Wallet for Fund Security:
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The DAO council will establish a multisignature (multisig) wallet with Toxic Entity, Praetorian, and Elysium as signers.
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All transactions require approval from at least two of the three signers—Toxic Entity, Praetorian, and Elysium—ensuring decentralized control and reducing the risk of mismanagement.
- Community Oversight:
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The council, including Toxic Entity, Praetorian, and Elysium, will submit monthly or quarterly reports to the DAO, detailing all expenditures (e.g., receipts for subgraph subscriptions and Filebase) via the DAO’s forum.
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The community can review these reports and raise concerns through governance proposals or discussions, with Toxic Entity, Praetorian, and Elysium addressing feedback.
Grant Request to the Foundation
To secure funding for the DAO-operated zone, the DAO should submit a formal grant proposal to the foundation, including:
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Budget Estimate: Current cost estimate is less than $100 per month for subgraph subscriptions (e.g., The Graph) and decentralized storage (e.g., Filebase), with Toxic Entity, Praetorian, and Elysium agreeing on cost management.
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Justification: These services enable real-time data access for governance and secure storage for community assets, a priority for Toxic Entity, Praetorian, and Elysium.
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Governance Plan: The council, comprising Toxic Entity, Praetorian, and Elysium, will manage funds via a multisig wallet with community oversight.
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Timeline: Funds will be utilized upon approval as needed for the V1 DAO managed zone, with regular updates to the foundation from Toxic Entity, Praetorian, and Elysium.
The proposal will emphasize transparency and accountability to reassure the foundation, with contributions from all three council members.
Next Steps
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Council and Multisig Formation: Upon approval, Toxic Entity, Praetorian, and Elysium will hold their first meeting to establish roles, a meeting schedule, initial priorities, and set up the multisig wallet.
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Grant Proposal Submission: Toxic Entity, Praetorian, and Elysium will draft and submit the grant proposal to the foundation, with community approval via Snapshot.
Financial Implications
No initial funding is requested beyond the proposed grant. Future council and infrastructure activities, involving Toxic Entity, Praetorian, and Elysium, may require additional budgets (e.g., gas fees for voting, payment to the selected compliance manager), to be proposed separately if needed.
Conclusion
By establishing a DAO Council with Toxic Entity, Praetorian, and Elysium, and securing a grant for infrastructure, the DAO can ensure robust governance and operational sustainability. The council’s multisig role, involving all three members, will safeguard funds, while community oversight maintains trust. I encourage the community to support this proposal and help build a thriving decentralized organization, with Toxic Entity, Praetorian, and Elysium leading the effort.