[mDAO proposal] Migrate to SPL-governance and ratify the Constitution and Code of Conduct

Hello mDAO,

As mentioned above by some people, the plan contained some details that wouldn’t have been for the best, like losing the “long-lasting” property of gauges. The team decided to take another look at the plan and modify it to reach a better final state. This updated plan will consist of two big steps:

Step 1: Marinade will move its multisigs to Realms (Operational & Treasury). All the voting for MNDE holders (gauges & proposals) will stay on Tribeca for the time being and all activities related to the treasury or the smart contracts parameters will be performed by the team and transparently visible on Realms.

Step 2: Voting on proposals and gauges will be ported to Realms and control over the treasury will be handed to MNDE holders. Tribeca will be deprecated when this is complete. This step will happen later as Marinade works on making it possible.

I’d like to modify the initial proposal above and reduce its scope. Here are the new suggested terms for this proposal:

  • This proposal is about ratifying the Code of Conduct and the Constitution together as a DAO.

  • This proposal would confirm Step 1 of the plan and invite Marinade to move its multisigs setup to Realms (Operational & Treasury). The treasury would also stay in the team’s control until Step 2. The upgrade authority of the main contract would stay on the ecosystem multisig for now.

    • After this first step, everyone will be able to see on Realms:
      • Any fund transfer signed by the Marinade Council
      • Any update to the parameters of our contracts (Stake pool, Unstake pool, etc.)
      • Addition/removal of Liquidity Mining gauges
  • The transfer of the treasury to MNDE holders would come at a later time. The rest of the migration, including deprecating Tribeca and moving the gauges and proposals to Realms, would also be done at a later time, as Marinade perfects the work needed for us to migrate there.

Following this change, and according to the Constitution, this is how the powers would be split in the Marinade DAO moving forward:

Marinade DAO (MNDE holders):

  • Power over the MNDE treasury (Still under the control of the team on Realms in this first step, to be moved to MNDE holders on Realms in the next step of the migration)
  • Power over the MNDE incentives through gauges (Done through Tribeca gauges for now, to be ported to Realms when possible)
  • Power over a percentage of the stake through gauges (Done through Tribeca gauges for now, to be ported to Realms when possible)

Marinade Council (4/7 multisig):

  • Control over Marinade’s contracts parameters (currently held by the operational multisig) and Delegation strategy parameters
  • Adding/removing liquidity incentives gauges and validator gauges (Validator gauges would stay permissionless on Realms for now)
  • Control over the protocol fees
  • Control over the Marketing budget

The grant committee would still conserve control over grant-related topics. Marinade’s Council would unlock funds based on the committee’s requests.
The upgrade authority over Marinade’s main smart contract would still be held by the ecosystem multisig (6/13 multisig).

This updated proposal would be the first step in our migration to Realms, with a second part to come later and bring every aspect of the mDAO governance to Realms. For now, we would simply ratify the constitution and code of conduct, and bring the team’s multisigs and powers to Realms for transparency.

The migration for MNDE holders to use Realms would come with Step 2, and more details will be communicated here before this second step is done.

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