DAO Accidentally Kickstarted

Okay, @banteg did accidentally a DAO and we’re now started in a PAUSED state.

DAO is deployed in PAUSED state, with no withdrawal credentials set, no node operators and no oracles. This is so that all the participants can check for themselves that what is deployed is indeed the DAO they want to participate in and kickstart it themselves.

Initial voting parameters are 5% quorum (at least 5% of total token supply have to vote yay for the proposal to pass) and 1 day voting period.

These are rather pessimistic assumptions of voting activity and not very safe voting period, so the DAO can change these when it sees fit.

The necessary steps to get things running are to

  1. For everyone to check everything they want to (e.g. vesting parameters, token distribution, source code etc) to make sure that’s what they wanted to take part in
  2. Create a vote for unpausing protocol to start accepting deposits
  3. Create a vote to set withdrawal credentials
  4. Create votes to add node operators
  5. Create votes to add oracles
  6. Vote on all of the above
  7. Node operators to add deposit data to the protocol
  8. Create votes to raise node operators staking limits
  9. Vote on staking limits increase

All votes can be done in parallel. Guides to creating votes and voting will be provided.

The SOP is to add node operators with staking limits = 0 and increase it after they add the keys iff those keys are correct but that means a day of delay on deposits due to additional votes.

If the DAO sees fits we can coordinate and keys offchain and start with increased limits. If we go this way, steps 8-9 are not necessary for a time. That’s more risky though.