In traditional business, «key person risk» refers to when a company relies too much on one
individual. Cryptocurrency businesses are prone to a very literal version of this risk when
To solve this issue MultiSig cryptocurrency wallets offer a built-in way to manage this sort of
risk. Therefore, we propose to create a MultiSig wallet for the Azuro DAO treasury which will
require 4-of-7 signatures to approve a transaction unless other rules and regulations are set and
voted on by the DAO members (for example several categories of transactions or contracts).
A MultiSig wallet is a digital wallet that operates with multisignature addresses. This means that
it requires more than one private key to sign and authorize a crypto transaction or, in some cases,
that several different keys can be used to generate a signature.
The Azuro DAO will have its own funds which should be distributed and used in the interest of
the DAO and voted on by its members. To ensure the safety and transparency of the received
funds the best way to control this process would be by setting up a MultiSig cryptocurrency
wallet for the Azuro DAO treasury where its funds are going to be located.
It is possible to choose how many keys are allowed to open the vault as well as the minimum
number of keys needed to unlock it (e.g., you could have a 2-of-3 Multisig where two out of
three assigned private keys are needed, 3-of-5, 5-of-7, etc.)
In our opinion the most optimal would be 4-of-7 signatures required to unlock the funds located
on the wallet. Other rules and signatures for specific transfers can be set and voted on by the
DAO members in separate proposals (for example setting 1-of-7 for certain transactions).
The following DAO members have expressed their will to become the Azuro DAO treasury
MultiSig wallet signatories:
Paruyr (wallet 0xa3827FA00309F940D7145c75d1344eEaa3452c02)
Davidcpost (wallet 0x022a569217D6D6E1c5A8000d4cb2ecbe59fAb0e7)
BR CAPITAL (wallet 0x27F29885B311C2bE99fd39Cb0A37b2d468e8C0a2)
Nikolai (wallet 0x2868F8919ac662C537c55C1eE4c570280FA7A90E)
Flow Ventures LP (wallet 0x5b48A7035B565366a4d2F6baf10167514ad24Ece)
Dan (wallet 0x7752b148df78a8f1b29973aa52359ab2b3fd50d5)
Gnosis (wallet will be specified later)
The Azuro DAO treasury MultiSig wallet should be created not later than by June 30th, 2022.