The Polygon Operations Team is a multisig that will manage pool rewards on Polygon. The team will operate until governance has been extended to that network.
This PTIP will form the Polygon Operations Team. It won’t require any governance transactions; it simply uses the PTIP as an official process to form the Polygon Operations Team. We’ll define the members, process, and constraints for the team.
The PoolTogether protocol wants to expand operations on Polygon. In the long term, we will extend protocol governance to Polygon; POOL token holders on Ethereum will be able to vote on changes to Polygon smart contracts. In the short term, we need boots on the ground on the Polygon network.
There is a lot of discussion around adding rewards on Polygon; specifically PTIP-28: Filling the Polygon Pool. In order to move quickly on this, we need to form a Polygon Operations Team.
The Polygon Operations Team’s responsibility should be limited to owning and stocking faucets for pool rewards. This mitigates risk to the size of the budget they control. Prize pool ownership will be retained by PT Inc. until POOL governance has been extended to Polygon. PT Inc. is effectively bonded because of the team’s holdings of POOL. A healthy PT is in our best interests.
The worst case scenario is that multisig goes rogue and steals its own budget. We just need to make sure we’re not risking too much. I think at most $100k, although I’d be interested to hear other people’s opinions.
Members should be known members of the PoolTogether community. Ideally membership doesn’t overlap significantly with other multisigs.
If you would like to be a member please comment below. If you have an issue or thoughts then please comment below.
- The team must establish consensus with POOL holders before making any major changes. This team acts as an extension of PT governance. Snapshot can be used for this.
- The team will need to coordinate at least once per month to ensure faucets are running smoothly.
- The team has the right to regulate themselves. If a member is not participating then the team can remove the absent member. The team should replace that person with another member of the community that meets the eligibility criteria, if possible.
- The team should have at least five members
- Must always require a supermajority for quorum (confirmation ratio of at least 60%). This can be changed when members are added or removed.
This PTIP will allow governance begin rewards on Polygon in the short term, and reduce custody risk by having community members control the funds.
- A Gnosis Safe will be deployed on Polygon and all members added to it. Confirmations will be configured to require 60% or higher quorum.
- Yes! Let’s do it.
- No I have an issue with this and I’ll explain below.