The mStableDAO completes its restructuring process to strengthen the foundation for exponential growth with mStable V2.
With this completed, the following entities and associated signer groups were established:
- TreasuryDAO (4/6 signers)
- ProtocolDAO (4/6 signers)
- Builder subDAO (2/3 signers)
- Ecosystem subDAO (2/3 signers)
Why restructure?
To align the interests of the protocol and governance bodies, we introduced a more active signer group with active compensation to participate more in the ecosystem. This will ensure that governors are incentivized to make the best decisions for the protocol while avoiding unnecessary overheads that was inherited with the old signer structure.
The new subDAOs will drive accountability in a more structured manner
TreasuryDAO
The TreasuryDAO has absorbed the Asset Management subDAO & Funding subDAO. Treasury Management will now be backed by a Charter — currently in progress — on top of the discretionary spending limit for more transparency. This ensures that spending above the discretionary spending limit is guided by a robust framework.
ProtocolDAO
The ProtocolDAO remains largely similar, and its role in the ecosystem is to ensure that the core contracts are funded, the proposals that get voted in via Meta Governance make it on-chain, and that the smart contracts are executed using with a diverse multi-sig structure for robust security.
Builder subDAO
The Builder subDAO is accountable to the TreasuryDAO for shipping products and delivering on agreed KPIs and goals.
Most of the core contributors are now in the builder subDAO which makes the protocol more resilient in theory against external attacks, as the protocol can now survive, even without the existence of the Builder subDAO.
Ecosystem subDAO
The birth of the ecosystem subDAO is also one of the significant changes in this restructuring process. The grants program will now be sunset and replaced with a dedicated Dework Bounty Board managed by 2 of our community members which will provide greater control over deliverables, goals, and any associated compensation.
Signer elections
We have completed our signer rotations and elections — a new set of signers for both the ProtocolDAO and the TreasuryDAO have made their way into the multi-sig.
Signers on the subDAO multi-sigs get independently elected by the subDAO itself, and no further governance action is required, except for the protocolDAO multi-sig where 2 of the 6 seats were not up for a vote, but mandated to be occupied by the builder subDAO for their technical know-how and expertise.
Paving the way forward with our new governance structure
A strong, scalable, and resilient foundation on the DAO setup was needed such that mStable can continue shipping new products, be more adaptive and responsive to market conditions, align stakeholder interests, and ensure accountability on every part of the DAO.
mStable V2 will be shipping very shortly — and this structure will ensure we move more effectively with speed.
