Protocol Guild Upgrades DAO, Drops Multisig Dependency
Protocol Guild migrated to Agora Governor contracts, moving its split contract from a multisig to DAO control.
The Protocol Guild, a collective supporting Ethereum core protocol contributors, has upgraded its DAO smart contracts to the Agora Governor, officially moving control of its split contract from a multisig to the DAO. The split contract distributes vested donations directly to Protocol Guild members. Powered by Agora, the new governance contracts feature two different proposal types.
Governance proposals for membership updates require 33% quorum and 51% approval, while proposals for weekly distribution proposals require 0% quorum and 100% approval. Previously, the Protocol Guild used an implementation of the Moloch V3 DAO, which required 33% quorum across all proposals.
The Moloch DAO's 33% quorum requirement made running weekly distributions through governance impractical, so Protocol Guild continued using a multisig for memberships and distributions. Under the new Agora contracts, the split contract is now fully DAO-controlled, including Protocol Guild's Cayman Islands legal entity.
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Shutter Introduces Perpetual Endowment Network (PEN)
A proposed governance funding model featuring a permanent principal base used to generate yield for a continuous DAO runway.
Shutter Network introduced the Perpetual Endowment Network (PEN), a new governance funding model featuring a permanent principal base used to generate yield for a continuous DAO runway. Under the model, the yield generated can be distributed via a quarterly governance vote. Governance membership is represented by non-transferable, non-delegatable one-vote seats purchased via a bonding curve.
The DAO treasury is split into a Principal Vault that holds and grows the core endowment, and a Yield Vault that receives and distributes returns. DAO members can exit at any time for a partial refund on their seat. PEN is currently a conceptual proposal open for community feedback.
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