Security

Skyren DAO Security and Governance Mechanisms

Multi-Signature Safe for Governance

Initial Distribution of Signing Keys

• The Skyren DAO employs a multi-signature safe to manage its funds, which provides a layer of security through shared control.

• Initially, 4 signing keys are distributed among the project contributors of the DAO.

• To perform any actions related to the movement of funds, a minimum of 3 out of the 4 keys is required. This ensures that no single individual can unilaterally execute transactions, fostering collaborative decision-making and reducing the risk of malicious activities.

Transparency of On-Chain Assets

• All on-chain assets of the Skyren DAO are publicly viewable through blockchain explorers. This transparency allows any community member or external observer to track and verify the DAO’s transactions and holdings in real-time.

• Blockchain explorers provide a comprehensive view of the transaction history, enabling the community to monitor the DAO’s financial activities and ensuring accountability.

Gradual Transition of Signing Authority

Selection of Community Members

• The Skyren DAO has a plan to gradually transition the signing authority from the initial core contributors to key community members.

• This process involves public voting where community members can nominate and vote for new signatories. This democratic approach ensures that the selection process is transparent and representative of the community’s needs.

• Core contributors have the option to remain as signatories if the community votes in favor of their continued involvement. This flexibility allows for continuity while also giving the community the power to bring in new members.

The Skyren Foundation aims to appoint community-nominated key holders within three to six months following the SKYRN token launch. This time frame is designed to allow for the organic emergence of trusted community members and the development of leadership within the Skyren ecosystem. The process ensures a gradual and secure transition towards community-driven governance

Industry Standards and Best Practices

• The governance and management of the Skyren DAO are guided by industry standards and best practices. These include principles of decentralization, transparency, and accountability.

• Adhering to these standards ensures responsible and ethical management, protecting the interests of all stakeholders and maintaining the integrity of the DAO’s operations.

Community Control and Liquidation Powers

• The Skyren DAO grants the community the ability to liquidate the DAO at any time, for any reason (post grace period). This level of control underscores the community-centric approach of the DAO.

• This mechanism empowers the community to make significant decisions regarding the DAO’s existence and operations, ensuring that the DAO remains aligned with the community’s interests and values.

Role of Skyren Contributors as Arbitrators

• Skyren contributors serve as arbitrators within the DAO’s governance framework. Their role is to facilitate fair and unbiased arbitration, ensuring that all governance votes are conducted transparently and without manipulation.

• Contributors provide necessary statistics and facts to inform the community, but they refrain from influencing the outcomes of governance votes. This impartiality helps maintain the integrity of the decision-making process.

Conclusion

The Skyren DAO’s governance model is designed to ensure:

• Transparency: Through public access to on-chain assets and transparent voting processes.

• Decentralization: By gradually transitioning authority to community-elected members.

• Community Control: Empowering the community to make critical decisions, including the liquidation of the DAO.

• Ethical Management: Adherence to industry standards and best practices to safeguard the DAO’s operations and maintain stakeholder trust.

These mechanisms collectively ensure that the Skyren DAO operates in a manner that is transparent, decentralized, and aligned with the community’s interests