Auditors Wallet Signers
In the meantime, we have confirmed with a number of trusted Maker DAO members that they will be taking up the role of Auditors Wallet signers. The confirmed signers are:
@SebVentures (RWF Core Unit) who is also our self-accountability auditor.
@prose11 (GovAlpha Core Unit)
@Aaron_Bartsch (trusted community member)
@hexonaut (Protocol Engineering Core Unit)
The auditors are tasked with (1) reviewing the monthly budget statements that we will submit to them together with the requests for payment, (2) asking questions or providing feedback in case anything is unclear or out of order, and ultimately (3) sign the multisig payment transactions to top up our operational wallets once everything is correct.
Should there be any issue with the payment request that does not get resolved, the auditors will block the payment for the time being, and can escalate the matter to bring it to the attention of the governance community. As such, the process does not depend on the bandwidth of the governance community as a group, making it more scalable than the assumption that for example MKR holders will check everything themselves.
Total Budget Cap
There is one important aspect we need to highlight in absence of a production-ready
keg module: the current process relies on the auditing process to keep the budget within its Total Budget Cap.
This is because it is flexible enough to top up the operational wallets with up to 3 months worth of expenses to replenish the runway. While this is very useful to cover exceptional circumstances such as front-loaded or unforeseen temporary expenses, clearly this flexibility must not be used to exceed the budget cap.
We will additionally highlight the Total Budget Spent in the monthly budget statements so that it can be readily checked by the auditors. Once the
keg module can be used in production, we will submit a proposal to put it as a guard between the surplus buffer and the Auditor Wallet so that this check is enforced on the smart contracts level.
I’d like to extend our sincere gratitude to the Auditor Wallet signers in this list, for the responsibility that they’re willing to take up. We believe that the practice of a monthly budget statement review will greatly contribute to the improved transparency and scrutiny of the expenses of the Maker Protocol’s funds, by SES and hopefully by the other core units in the future. Big thank you for that!
@SebVentures, @Aaron_Bartsch, @prose11, @hexonaut: if you could double-check the address and confirm in this thread, that would be greatly appreciated. I’ll be waiting for this confirmation to add the addresses to the wallet.