HIP-34: Deposit Gitcoin rewards into yearn vault

Loooooong time ago I have created the Gitcoin grant: 💰 Proof of Humanity | Grants | Gitcoin

The funds are received into the Gnosis Multisig (old version, not Gnosis Safe):

I suggest we should consolidate into ETH and deposit into the vaults.

The multisig is 2-of-3, I’m one of them, @clesaege is another. I’m fully comfortable to revoke my role, in favour of @santisiri or any other trusted core team member.

(in fact, I prefer this option, less work and less responsibility for me)


Great! I suggest you follow HIP-5 framework if you want to formalize this into a binding proposal!

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I don’t see the edit button, maybe it is disabled after some time, otherwise I would edit the original post.

My lessons from the DAO space.

…super slow to move.

If I was working for a traditional company, it would be simple yeah, sure, makes, sense, “easier done than said”, the thing would be accomplished in no time.

Right now I don’t feel like writing “A short (~200 word) description of the issue being addressed.”

I think that DAOs in order to be competitive with traditional organizations need to implement some optimistic execution - small things fast, only big things to be run through a vote. Now as I think about it - treasury policy and multisig is a big thing in this industry :slight_smile:

Right now need to discuss:

  • multisig holders (suggest to revoke myself)
  • treasury policy (suggest to reinvest into vault)
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I agree that beaurocracy and a very poorly specified HIP-5 are hindering progress, so we should be working on a better governance model that takes that into consideration. In the meantime, modifications to the contract are costly and risky, so we need to ensure proper protocol nonetheless. No one is going to forbid you going against protocol, but you might surely be challenged during the Governor stage unfortunately.
Luckily we are not a company, but a democratic organization (1 person = 1 vote).

Why is that?

I’m one of the multisig owners (2 of 3).

No contract modification is required.

Probably easier to send to a regular account, move stables into ETH, deposit into the vault.

To make it smoother, I can revoke my multisig access or do 2-of-4 and add Santi.

I don’t understand why if everyone took the job, read and informed themselves about proper procedure, did their homework and proposed stuff following rules, you refuse to do the same. HIP 5 (I insist) might not be the best framework for the DAO (I’m sure it isn’t) but it must be followed to preserve the DAO.
Even if it does not require contract modifications, it is the current standard, and any hip not following protocol will not be considered valid.
You could settle this outside voting mechanisms if you want, but if you want voting, it will need hip5 compliance.

Help us do a better proposal framework.
For the record I’m in favour of this proposal.

I’m not refusing.

Realising that this proposal is not that simple.

If my proposal was simple, I would just follow HIP-5.

Because I think it’s a big thing, I suggest more discussion.

Thanks for sharing this @dearmoon.eth!

I believe we should establish a process for these kind of claims, and then leave it at the multisig signers discretion to apply what we decide to the best of their abilities. A couple of weeks ago I’ve wrote this post where I was expecting to brainstorm about it: Ideas on how to facilitate governance. I believe the LIDO fast track process is interesting.

Some general ideas:

  • I believe the multisig signers should be the mission board members for now, since they are a small set of people we know well and trust.
  • Eventually we could have an “operations team”
  • Whenever the amount held by the multisig exceeds some threshold in USD, we should expect it to be converted to eth or DAI and be deposited into the corresponding vaults.
  • the ubiDAI or ubiETH must them be sent to the DAO treasury/governor.
  • If the amount exceeds a threshold in dollars, the signers need to send the tokens to the DAO treasury/governor.
  • maybe define some process for holding, selling/buying NFTs?

I agree that we need to reduce friction as much as possible.


Hey all,

I would like to move this forward. I’ll write a HIP to formalize the consolidation of the funds into ETH, and the deposit in the vaults.

As for the multisig and the next grants, I believe we could add the next Mission Board members as soon as we have the elections.

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