🔓DAO Multisig
Details and composition of the Shell DAO Multisig
The multisig does not have custody or control over funds in the Ocean contract, nor in any protocols connected to the Ocean.
Even if the multisig is compromised, liquidity in Shell Protocol will remain safe.
The Shell DAO Multisig is a 6/11 wallet on Arbitrum. Composition and signers may be subject to change, depending on the DAO. View the DAO multisig activity using the Safe app.
Address: 0x808038B1B6C21c0C6F98cA640f8a19C19B405fba
When a DAO vote succeeds on Snapshot, it doesn't automatically trigger the execution of the proposal. Instead, it serves as instructions for the DAO Multisig. Signers on the multisig are like system administrators, or government representatives. They can execute the proposal on-chain on behalf of the DAO.
The Shell DAO multisig exists solely to fulfill the wishes of the veSHELL voters, as described in the governance process.
Why a multisig, rather than fully on-chain governance? At this early stage in DeFi, on-chain governance is not yet mature. For example, there are no battle tested implementations of vote-escrowed tokens with on-chain governance. Perhaps in the future, when the technology is more robust, the Shell DAO will transition to a different governance model.
Although there are disadvantages to concentrating certain privileges in the hands of a multisig, it is much better than a single signer. In this sense, larger multisigs are more secure.
Multisig signers are chosen for their trustworthiness in the Shell, Arbitrum, and Ethereum communities. It is an honor and responsibility.
Individuals on the multisig are public figures. They must be held accountable to one another and to the veSHELL community. If at any time a signer's actions signify improper conduct, they may be replaced.
The following individuals are signers on the multisig.
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