GP-032: Move token mint operations to Threshold Foundation subsidiary
AI summary
This proposal seeks to transfer the responsibility of minting new Threshold (T) tokens for staking rewards to a new subsidiary called Threshold BVI Ltd, which is owned by the Threshold Foundation. Currently, the Threshold Council handles these operations. If approved, a new multi-signature wallet will be created for Threshold BVI Ltd, which will then take over the control and management of the smart contracts responsible for distributing staking rewards.
If this proposal passes, the process of minting and distributing T tokens for staking rewards will be centralized under Threshold BVI Ltd, aiming to improve operational best practices and potentially reduce liability for individual contributors. This change primarily affects the operational structure of token distribution and does not directly impact token holders' ability to claim rewards, nor does it change the amount of rewards received.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Vote Type Token holder DAO Snapshot with a 5-day vote period.
DAO-elected Sponsors @sap @JohnPackel @Will
Timeline
- 3 days for comment / discussion on this proposal (Forum)
- Token holder DAO Snapshot with a 5-day vote period
Background Threshold DAO recently established a Cayman Islands Foundation Company, the Threshold Foundation, as authorized by the DAO in GP-025.
The purpose of the Threshold Foundation is to support Threshold DAO as a legal proxy, to sign legal agreements, and protect contributors from personal liability. It acts on behalf of Threshold DAO and its token holders.
The…