PIP 7 - Proposed DAO upgrades

Currently, PieDAO is running the standard Dandelion template made by 1Hive, which was a great way to start the DAO.

Since PieDAO is moving to the next stage in which it might want to diversify its assets or mint DOUGH for bounty recipients, I think we should make some changes to the DAO structure.

Faster low value, low impact voting

Currently, the voting cycle is about three days, which is too slow if the DAO decides it wants to swap some assets to diversify. To mitigate this issue, I propose the following additions:

Secondary agent app

A secondary agent app can hold a portion of the DAO funds. The controlled by a secondary voting app and do transactions on the DAO’s behalf, which don’t require the 3-day voting cycle.

The “EXECUTE_ACTIONS” permission will be assigned to the secondary voting app and managed by the primary Dandelion voting app.

Secondary voting app

The secondary voting app will be an instance of the standard voting app used in Aragon and not the Dandelion app, bypassing the delay period for ragequitting.

The support required to pass a vote will be 60%, the quorum 10%, and the vote duration 12 hours. There will be no delay between votes.

The “CREATE_VOTE” permission will be assigned to the Time Lock app and managed by the primary Dandelion voting app.

Funds from the primary agent are transferred to the secondary agent via a full three-day vote from the primary voting app.

Token minting through votes

Bounty receivers are not always able to submit a token request from the wallet they want to receive a DOUGH bounty on for a variety of reasons. I propose assigning the token minting permission to the primary Dandelion voting app, allowing any $DOUGH holder to initiate a vote to mint tokens to external addresses.

Upgrade process

Because installing an App requires a vote (3 days, followed by a 12-hour wait), we need to do the upgrade in two phases, taking a total of 7 days.

Phase 1

  • Install the secondary agent
  • Install the secondary voting app
  • Assign minting permission to the primary voting app

Phase 2

  • Assign “CREATE_VOTE_PERMISSION” to the Time Lock app
  • Assign “EXECUTE_ACTIONS” permission to the secondary voting app

After this is complete, the new apps will show up in the PieDAO Aragon UI.

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Looks great, Mick. I think this will make it much easier to manage the DAO’s assets effectively.

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I like the proposal because we can follow a process of having DOUGH holders decide for instance to move X amount of ETH from “slow-vault” to “fast-vault” by reaching consensus that the about would swapped for USD++ when ETH reached the price of Y over specific conditions (ie: daily close + RSI >= 70).

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As some of you might have noticed already there are now 2 new votes to install some apps.

Vote 162 installs an instance with the code located at 0xb935C3D80229d5D92f3761b17Cd81dC2610e3a45.. This is a voting app setup with a min support of 60%, a quorum of 10% and a voting duration of 12 hours.

Vote 163 Installs an agent app with the code located at 0x3A93C17FC82CC33420d1809dDA9Fb715cc89dd37.

Once the votes to install the apps have passed the DAO can setup the permissions for these apps and start using them.