Recently we’ve been in discussions with the ENS root multisig keyholders about a few small changes to how the multisig is handled. While the keyholders have done a stellar job, they’ve had rather more to do than we initially anticipated, and the multisig tends to suffer from the same issue that most long-term volunteer positions have, where it slips down the priority list. As a result, getting keyholder approval for a change can sometimes be a lengthy process.
In order to try and remedy this, I’ve proposed - and the keyholders have agreed to - a few changes:
- All the keyholders besides myself will now serve for a fixed term of 18 months. These terms will be staggered, with one keyholder rotating out every 3 months. The first rotation was scheduled for our third anniversary, May 4th 2020.
- Each new keyholder will be paid a stipend of $1000 worth of ETH as compensation for the time required in dealing with multisig requests. Existing keyholders will also receive this stipend.
As always, any changes to the multisig are enacted with the approval of 4 of the 7 current keyholders. I don’t receive the stipend, and while my position on the multisig isn’t rotated out like other keyholders, they can of course vote to replace me at any time.
New keyholders will be proposed each quarter by me, and approved by a majority vote of existing keyholders. Keyholders can agree to serve more than one consecutive 18-month term if they wish; each keyholder receives the stipend for each term they serve.
I proposed the following rotation order to the keyholders:
- Vlad Zamfir - 2020-05-03
- Jarrad Hope - 2020-08-03
- Piper Merriam - 2020-11-03
- Dan Finlay - 2021-02-03
- Taylor Monahan - 2021-05-03
- Aron Fischer - 2021-08-03
Yesterday, I sent out the first rotation request for signing, proposing the replacement of Vlad Zamfir with Sergey Nazarov, CEO of ChainLink.
I’m optimistic that these changes will help ensure the multisig remains vital and active, and can exercise the oversight role that it was designed for. Keyholder rotation makes it possible to relieve keyholders who no longer wish to serve more easily, as well as ensuring a wider number of trusted individuals have an opportunity to participate in the governance of ENS. We welcome proposals from the community for keyholders; we’d like to see people from a wide variety of projects both inside and outside Ethereum participate.
Please feel free to raise any questions or concerns you have about the structure of the multisig with me or anyone else on the team.