CIP-25: Operational CoW DAO Safe

Governance Closed Proposals
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CIP-25: Operational CoW DAO Safe
CIP: 25

title: Operational CoW DAO Safe
author: lpm_machado
status: Active
created: 2023-05-26

Simple Summary

CoW DAO has a number of operational needs, including various ecosystem related transactions and operations. These require low funding amounts, but payments that are sent frequently (eg. network fees, testing, user studies etc.)

This CIP proposes the creation of a CoW DAO-owned operational spend Safe to reduce overhead. This safe would be funded for ecosystem transactions such as network fees, testing funds, and potentially small, unforeseen bounties or community-approved reimbursements. Additionally, the ETH-flow refunder for the native ETH-flow support requires funding, which this operational Safe would be able to provide.

This CIP asks for a funding allocation of 80 ETH.

Motivation

This CIP asks to transfer 80 ETH (ca. 145k USD equivalent) into a Safe at eth:0x46861c73480d35AA285f1420Ba80e76766F9885c.

This Safe would reduce the overhead related to funding on-chain operations that further the development of the CoW Suite along the lines dictated by the Service Agreement and operated on behalf of CoW DAO.

These funds will be used as necessary in the development of the CoW Protocol Suite and related undertakings, namely:

  1. Deployment of smart contracts;
  2. Audit services for smart contracts;
  3. Bounties;
  4. Testing of features (like partial orders, milkman upgrades, and others);
  5. User studies;
  6. Funding of the ETHFlow refunder wallets;
  7. Funding for gas and signers;

To implement this proposal, a new nested Safe with a threshold of 1/2 owned by CoW DAO and by a Safe operated by the Core team shall be deployed and named “Operational CoW DAO Safe”.

Additionally, operational EOAs will be created and funded with a maximum of 5 ETH at any given time to facilitate the frictionless usage of funds (also on different chains). Any significant transaction above this amount will be initiated from the “Operational CoW DAO Safe” directly. The diagram below depicts the intended structure.

Screenshot 2023-05-26 180310

(*) Note: Cow logo wallets represent CoW DAO Owned wallets.

Any unused funds from the Operational CoW DAO Safe can, at any moment, be withdrawn by CoW DAO’s main Safe and re-allocated for any other community-driven initiative.

Further top-ups will require a summarised expense report of prior funding along with another CIP.

The assets in the operational CoW DAO Safe will remain idle (no asset management) and should be allocated from this CoW DAO Safe.

Proposal

  1. Deployment of a new nested Safe named “Operational CoW DAO Safe”, with a threshold of 1/2 owned by the CoW DAO main Safe and a Core team Safe.
  2. Transfer of 80 ETH to eth:0x46861c73480d35AA285f1420Ba80e76766F9885c.
4 Likes
2

I support this proposal. It makes sense to have a small fund for regular and unforeseen expenses.

2 Likes
3

Given the passing of the consultation period, this CIP will be put to voting and the new SAFE was deployed at:
eth:0x46861c73480d35AA285f1420Ba80e76766F9885c

4

Happy to support this proposal. For the benefit of the community, it’d be useful to have an estimate of how long this initial 80 ETH tranche will last as well as a rough breakdown of the different uses given historical payments.

5

Thanks for the comment Sohkai!
The goal would be for this allocation to be used until depletion and should last at least one year. The breakdown in terms of value will be done on the regular reports from the core team, in order to ensure proper transparency and communication to the community.

6

Proposal passed on snapshot:
https://snapshot.org/#/cow.eth/proposal/0x79fdcc006030d50ab0ffe0ffd7c474a409eb70448d1c8eba58919af7559a876e