SIP-14: Deploy and fund Samurai Governance Vault

Motivation

This proposal suggests for the protocol to deploy and fund a Samurai Governance Vault. The Samurai Governance Vault shall represent a multi-signature wallet enforced with the use of Gnosis Safe. Multi-signature wallet is a specific type of digital signature or wallet that operates with multiple signatory addresses. A multisig wallet requires more than one private key to sign and authorize any given transaction.

The underlying purpose and premise of the Samurai Governance Vault shall be to store, manage, administer and distribute funds for Samurai protocol-related initiatives.

Establishing the Samurai Governance Vault will arguably achieve numerous things for the Samurai protocol:

1. Decentralization The proposal and implementation of the Samurai Governance Vault arguably promotes decentralization by moving the custody and management of funds away from a centralized third-party vendor. Instead, the funds will be stored in a multi-signature wallet controlled by multiple signatories. This approach reduces reliance on any single entity and fosters a more decentralized approach.

2. Transparency By locating the funds on-chain within the Samurai Governance Vault, the proposal enhances operational transparency of the protocol. The blockchain's inherent transparency allows anyone to track and verify the movement of funds at anytime, anywhere. The protocol has previously suffered an exploit, while transparently storing funds and operating mostly on-chain. At the time, the exploit has subsequently led to a number of decisions that attempted to ensure and facilitate the safety of the protocol and parts of the on-chain funds by temporarily compromising the on-chain transparency and attempting to ensure that no adverse third party will be successful in locating and potentially draining the funds. After onboarding external, professional counsel pertaining to better and safer ways on how to administer funds in the context of a DeFi protocol, the establishment of a multi-signature wallet is arguably a great solution that facilitates the on-chain transparency, while not compromising on the safety of the funds.

3. Initiatives, development and expansion The implementation and enforcement of Samurai Governance Vault arguably supports and enhances the Samurai protocol by functioning as a meaningful incentive for the ideation, creation and development of Samurai-related initiatives that can potentially fuel and foster the protocol’s growth, functionality and utility by the expansion of Samurai’s products, services and its overall ecosystem.

The Samurai Governance Vault (0x6E5A826c8348B3a3f8854afC333562564C71353e) shall be funded over the next 6 weeks with the funds that were previously generated by the protocol’s smart contracts, core team, fees, claims, taxes, conversions to/from the chain’s native currency (FTM) and agreements with other protocols and partners.

The Samurai Governance Vault multi-signature wallet shall be controllable by the following signatory addressess: 0x6518376D079f9BD559eA78E5CD71f12264d9A57B 0x1d652a3AdF914d414cb0B802061dAc644961B6E9

The wallets above shall be controlled by the protocol’s current core team. As the protocol matures and achieves further autonomity and decentralization over time, the signatories of the multi-signature wallet can be altered and changed by future governance proposals and can be controlled by other individuals / entities contributing to the protocol.

The proposal to deploy and fund the Samurai Governance Vault aligns with the values and vision of the Samurai protocol by promoting decentralization, autonomity, transparency, and flexibility of the protocol. The proposal recognizes the potential for change and evolution in the functionality of the protocol and its governance structure. This flexibility aligns with the adaptability and evolution of the protocol as it matures and decentralizes further. By embracing these principles, the proposal aims to strengthen the Samurai protocol's operations, initiatives, governance structure and contribute to its overall success.

Specification

Transfer funds to the Samurai Governance Vault (0x6E5A826c8348B3a3f8854afC333562564C71353e)