TIP-21 - Sunset TIP Process & Treasury

Proposals
1

Authors

@lewi

Summary

This vote proposes sunsetting the TIP process & liquidating the treasury assets

Motivation

Currently the TIP process & the multisig act as a grants program, community treasury & soon a gaurdian for the protocol. The aim of this vote is to wind down the TIP process and the treasury which is currently unused to separate that from the guardian role that the multisig plays in the protocol.

Specification

Sunset TIP process

After this vote, proposals voted on via snapshot will be invalid & should not be executed. At some point in the future the protocol can restart the TIP process via a protocol governance (EIP) vote.

Treasury Assets

Currently the treasury multisig has the following assets:

988.035972 USDC
0.20 ETH
9,064,020.64427466 ESD
46,975,000.00 ESS

We propose the following actions to dispose of these assets:

- Purchase ESS with
  - 988.035972 USDC
  - 0.20 ETH
  - 9,064,020.64427466 ESD
- Send ESS from purchase + 46,975,000.00 ESS to the Reserve to be burnt (Future EIP)

The disposal of assets will be done in multiple transactions to reduce the impact of the operations on the market.

Vote

The vote will take place on Emptyset’s Snapshot governance page. Please join the snapshot for notifications about votes.

Link to Vote
Vote length: 3 days

1 Like