Hello everyone ! This is the inaugural on-chain vote for the Instadapp Protocol, below the team has put together the following proposal.
Replace the admin of the protocol from the 10-day timelock with the Governance Timelock and replace the control of the connectors (‘Chief’ role) from the team’s multi-sig to governance.
Currently, the protocol is controlled by a standard 10-day lock Multi-sig; we propose to change this to the Governance timelock contract. This will enable governance to manage how proposals are passed, and to make changes to governance on a procedural level.
We also propose that the Chief Contract, which is the contract that manages the administration of connectors, be replaced from the team’s multi-sig to Governance.
These two changes will complete the transferral of administration rights of the protocol to the community. This will also increase the security and help decentralize these contracts by distributing its administration to governance.
This vote includes critical code changes and has been submitted on-chain to be voted by the community.
Voting and governance proposals can be found on the Atlas Dashboard. From here $INST holders can delegate, vote and review all governance proposals and changes made to the protocol.
Voting Dashboard: https://atlas.instadapp.io