Summary

The Fed Chair is a trusted role. It is responsible for expanding and contracting DOLA supply instantly and infinitely which poses many security risks to the DAO. The Fed Chair currently being appointed to a single person (Nour) is a Single Point of Failure (SPOF) the RWG wishes to address. This proposal sets forth the motion to assign the Fed Chair role to a multi-sig composed of trusted core DAO members. The Fed Chair multi-sig would therefore assume the roles of Anchor Admins, as well as DOLA Operator.

Recommendations

The Fed Chair role requires thoughtful interactions, as it's not only tasked with defending the DOLA peg, but also should work to maximize profits for the DAO while staying within the peg. In the case of emergency, the chair retains the ability to contract vulnerable DOLA supply across all markets

The RWG is recommending that each member of the Fed Chair multi-sig be doxed to other members, as well as 2 other parties in the DAO. If an anonymous signer or signers could act on large expansions this opens the room to collude with attackers for insurmountable losses.

The multi-sig should be configured to address three parameters:

1. Rapid response time
2. Wide availability
3. Consensus amongst relevant parties

As such, signers to the multi-sig should:

• Represent different working groups
• Be trusted DAO members and have a vested interest in the success of the DAO
• Be spread out geographically in such a way that they cover different time zones.

Solution

The RWG recommend we create a 2 of 5 Fed Chair Multisig composed of the following signers:

• Nour
• Harry from TWG
• Pat from GWG
• Edo from RWG
• Naoufel from AWG