Increase Multisig For Buzzed Bear Wallets

Status: Proposal Author(s): @CryptoChicca @AlexPanda

Created: 17 November 2021

Discussions-to: Comment below please

Implementation (optional): Immediate. ‌

Buzzed Summary

To increase the multisig on the Buzzed wallets to include cryptochicca and alexpanda. This will increase from 3 to 5 people able to sign transactions for Buzzed Bear Hideout. Only 2 are required to undertake a transaction.

Do you want to move this proposal to BIP?
  • Yes
  • No

0 voters

Abstract ‌

Buzzed Bears are starting to implement aspects of the investment strategy (bip-003), and these require purchases from buzzed bears wallets, in order to spend honeypot funds for the benefit of bears.

It is proposed to increase the multisig from 3 people to 5 people, and include @cryptochicca and @alexpanda. Given bears operate 24/7, this will help with efficiency in supporting necessary transactions.

Specification ‌ Overview ‌

  1. Add @cryptochicca and @alexpanda as multisig to increase people that can sign transactions for Buzzed Bear Hideout to 5 people. Only two are required to undertake the transaction, that will remain.

Rationale ‌

The reasons for this proposal are:

  1. Promoting good governance for the Buzzed Bear Hideout brand

  2. Providing risk management to Buzzed Bear holders

  3. Helping implement transactions for Buzzed Bears

Technical Specification ‌

@defijesus to add @cryptochicca and @alexpanda to the multisig for Buzzed Bear Hideout wallets and provide necessary training to those two.

Test Cases ‌

@mesk has been added and trained as a test case, and this has been very successful. It is now time to add two trusted mods to the multisig to help facilitate hideout outcomes.

Copyright ‌

Copyright and related rights waived via CC0.

1 Like

I’m fully in support.

Is the multisig going to be a 2 or 3 of 5? (I would say that going to 5 of 5 would be a bad move).

3 Likes

Sorry if unclear, it is proposed to be 5. @DefiJesus @BuzzedMo @Mesk85 @AlexPanda and myself to cover off timezones across 24/7. This will increase from 4 to 5. We have either not been able to execute purchases or DeFi and Mo have been up during the night trying to execute transactions so this is proposed to help both the FAO function better and not put undue burden on the current 3.

Just a small edit to note, only 2 bears are required to sign at any given time. The increase in 5 is to help facilitate bears that are available to sign at any given time having regard to timezones.

1 Like

personally would say votes need to always be at least a simple majority (3/5 in this case). This keeps trust higher in the community that they aren’t going to get rugged, and also makes a USG based control vector less possible by making a non-American required to sign a tx through

I don’t know where @AlexPanda resides (I’d prefer to keep it that way, don’t dox yourself) but in the event it’s the US, 2/5 would mean we might as well incorporate under tax-daddy

1 Like