I intended to follow up this temp check with another proposal to figure out considerations such as term limits, gas rebates and elections.
I do not intend for this to be the final vote, but according to the Hop Governance Process, every vote must go to an on-chain vote. This is problematic in relation to temp-checks, but @fourpoops just put this forum post to discuss the governance process, the goal of the multi-sig compensation proposal was to start the conversation around multi-sig comp, and I am working on a follow-up proposal to address all the considerations that would have convoluted the initial discussion.
As discussed in discord already and also pointed out already here:
Multisig signers should be compensated
On-chain verification of a temp-check is meaningless. What’s more I was lead to believe the on-chain thing was executing the proposal as was, which I have issues with.
We need to continue with ironing out the details.
Make a change in the governance process to specify that a temp-check does not need on-chain verification. This is silly and simply costs us money and afaik no other DAO does it.
I also agree we should not let procedural details slow us down and would suggest to simply proceed with the ironed out multisig proposal that @Kene_StableLab wants to do and discuss and once decided execute.
I voted yes on this proposal. Although I agree that this proposal needs further work on the details, I prioritized multi-signers being compensated as soon as possible, taking into consideration their past work and hours put in. Moving forward, I don’t agree with having an on-chain vote for a temp check, but given the circumstances I believe that the priority is moving forward, not stalling.
The initial distribution has been calculated and will be distributed next week with the other distributions (HIP-7, HIP-4, and the non-HIP-labeled SNX incentive proposal).
As discussed on the community call, the price for the HOP token will be a 6 month TWAP. For the time period from July 1, 2022 to December 31, 2022, the TWAP price for HOP was $0.11799821319117894. The script to perform the calculation can be found here.
This price translates to the following token amounts:
16,949.40919791 HOP (for $2,000)
8,474.70459896 HOP (for $1,000)
The total HOP distributed will be 50,848.22759374.