TLDR: This proposal introduces the integration of Nomos multisig within the Archway ecosystem, offering enhanced features for member management, contract migration, IBC connectivity, and efficient tracking. However, caution is advised due to the code not being audited.
Introduction:
I am Ohad Bachner from the Nomos team. We at Nomos are laying the groundwork for multisig within the Archway ecosystem. With an engineering background from the Technion, I also serve as a GP at ZMT Capital. I’ve been actively involved in the web3 industry since 2016.
Why:
Supporting native Archway projects is essential for the growth and security of the ecosystem. Implementing multisig capabilities will not only enhance the governance and operational aspects of these projects but also provide a layer of security and flexibility that is much needed in the rapidly evolving web3 space.
Benefits:
Member Management: With Nomos multisig, adding or removing members becomes a seamless process, ensuring that the DAO’s governance structure remains agile and adaptable.
Efficiency: The multisig system is designed for better efficiency in transaction approvals, reducing the time and effort required for consensus.
Contract Migration: The ability to migrate contracts ensures that the DAO can adapt to changing needs and technological advancements without major disruptions.
IBC Connectivity: Nomos multisig supports Inter-Blockchain Communication (IBC), allowing for secure and efficient communication between different blockchains within the Archway ecosystem.
Tracking: An integrated indexer ensures that all transactions and changes are tracked efficiently, providing transparency and accountability.
Note!:
It’s important to note that the code for the Nomos multisig has not been audited. As a precaution, I recommend not transferring more funds than necessary until a thorough audit has been conducted.
Open Discussion:
We value the insights and feedback of the Archway community. Please let’s have an open discussion on this proposal. Share your thoughts, concerns, and suggestions. Your input will be instrumental in shaping the direction and implementation of the Nomos multisig within the Archway ecosystem. Let us know what you think!
Received a wonderful demo, and signaling gratitude and support here! This is a dope solution, and would be great for the recently passed Liquidity Council and Marketing DAOs to utilize!
Additionally, as a user a Gnosis Safe, the idea of building functionality to utilize Archway dapps, on the UI, directly through the multisig is incredible, and really needed for getting real businesses and teams to adopt usage of our network as part of their core operations.
Re:Liquidity Council usage of Nomos; the key functionality is covered and we’d be utilising the Dapp connection directly to deploy capital. We’ll aim to test this on Constantine before mainnet setup to ensure it’s working as expected, then all things being well, get a mainnet wallet setup for the council.
It would be prudent for us to consider withholding the full council treasury from this mSig wallet, just on the basis that the underlying contracts are not audited yet and haven’t been live in production for too long yet to get battle tested.
Thank you for your insights regarding the Liquidity Council’s use of Nomos. I understand your concerns about the security and reliability of the underlying contracts, especially since they haven’t been audited.
You’re right; the code has not been audited. However, the reason for this is not negligence but rather a lack of funds. As a startup, securing the necessary resources to audit the code without any fundraising is a significant challenge. It’s worth noting that many projects that seek liquidity from the Liquidity Council are likely in a similar position and may not have audited contracts either.
We always prioritize the safety and security of our users and partners, and we’re continuously working to improve our platform. Your feedback is invaluable in this process.
That’s a really interesting proposal, but I’ve got a few quesions here:
– What is the purpose of using this multisig? Why we a new tool as we are already using this forum?
– Can you please describe a specific usecase of it?
– Unfortunately your Discord link presented on the site doesn’t work, as well as the Github link, so I cannot dive any deeper in it.
Thank you for your interest and questions regarding our Nomos multisig proposal. Here’s some more detail to clarify:
Why Use Nomos Multisig: Nomos offers enhanced features beyond what traditional forums provide. While forums are excellent for discussion, Nomos facilitates actual execution of DAO decisions, especially for financial transactions and smart contract management. It provides a secure, decentralized platform with advanced features like adding or removing members, IBC transfers, and adjusting multisig settings. These functionalities ensure a higher level of transparency and efficiency in DAO operations. For a comprehensive overview, you might find our blog post insightful: Nomos on Medium.
Specific Use Case: An example is the management of DAO-owned smart contracts. Nomos allows a DAO to control these contracts directly and receive rewards via the multisig wallet. This setup is crucial for managing assets and making collective decisions securely. Another scenario involves a liquidity council wanting to provide liquidity to a DApp’s pool. Using Nomos, they can do this through the multisig wallet, maintaining transparency and trust, rather than transferring funds directly to an individual user.
Discord and GitHub Links: We apologize for the broken links. Our Discord community can be accessed here: Discord. Although our GitHub isn’t publicly available yet, you can explore our GitBook documentation. For specific queries or access requests, feel free to contact us directly.
We look forward to your thoughts and any further questions you might have!