Security & Efficiency: FantOHM Adds Two Layers of Multisig Protection

Greetings FantOHMies,

The FantOHM DAO has recently been moved to multisig in order to significantly mitigate security risks and assert to you all that we are committed to decentralisation, security and ultimately for the long-haul. No single stakeholder can execute transactions — All transactions are double-checked by at least 3 stakeholders.

The 4 signers for the DAO are listed below:

1. @pwntr0n — FantOHM Lead Developer

2. @Kanan — FantOHM Web and Front end Developer and Designer

3. (Church) @Skeptic_Church — Co-lead Olympus Odyssey, (Olympus, OtterClam, City Roots, Mushrohms, Olympus Odyssey

4. (Rayne) @NFTRayne — cityroots.io

We are very excited to announce two new signers for the FantOHM DAO multisig wallet — who are outside the team. They are both well respected in the scene and having them on board is a huge step forward in continuing development and strategy for FantOHM. We are very pleased to welcome Church and Rayne to the FantOHM family.

Below is the FantOHM DAO safe, where the owners and policy can be verified.

https://safe.fantom.network/#/safes/0x34F93b12cA2e13C6E64f45cFA36EABADD0bA30fC

The main benefit of moving to this type of multisig is that decision making will be more decentralized, making any unilateral decision making or rug pulling far less likely. Although we haven’t planned anything malicious, any such actions are effectively prevented now..

All signers are extremely dedicated, which is crucial, as getting them all to sign off a proposal in a timely manner will mean we can make adjustments quickly and effectively.

The shift to multisig aligns with our goals of becoming a decentralized, community-focused organisation that still retains efficient functionality and can grow at speed, adjusting as it needs to to the changing landscape.

The two layers of our multisig protection

Security is the no. 1 priority in a DAO poised for long-term growth. There are two layers to the multisig protection, Fantom Safe and OpenZeppelin Defender. The former is the Gnosis implementation on Fantom, and the latter is a secure platform to expand the capabilities of multisig operation. Open Zeppellin Defender is an added layer of security that not many other projects go to the effort of incorporating. It’s essentially a repository of functions that can be added to a contract during generation. In doing so, this method requires both the contract and seed phrase tied to it in order to produce any updates or modifications.

Looking forward

Our move to multisig is just another small step in a long journey ahead. The DAO is now guarded by a 3 of 4 multisig policy, any transaction to make changes to the DAO must be approved by at least 3 out of 4 owners within the multisig policy.

If you’re just arriving now, we’d like to welcome you. We have some epic news ahead which you can get psyched for. Special thanks to all our engaged community members whose discussion in our discord have been deeply encouraging. The type of serious discussions around the project’s development is exactly what is needed for an innovative OHM fork like ours to stand out from the competition. We have an exciting road ahead.