Community Treasury and multi-sig signers

On April 13th, the community forum was launched allowing the community to discuss and make proposals. The creation and objective of the Project Galaxy DAO is to give the community the tools and resources to develop the Project Galaxy ecosystem in the long term. The community holds the power to propose ideas and initiatives and vote to make them come to life.

That’s where The Project Galaxy DAO treasury comes in, which holds 20% of the GAL Token supply and allocate funds to approved community proposals.

Proposals such as:

  • Allocating GAL to other projects and protocols or liquidity pools
  • Marketing and Community engagement initiatives
    -Support projects that promote the long-term growth of the GAL ecosystem
  • Giving back to initiatives and causes that the community cares for (EX: Ukraine DAO)

Whatever the idea or project may be, GAL holders will need to go through the Governance Process as indicated below:

  1. Write a proposal
  2. Submit the proposal to the Governance Forum
  3. Obtain a positive outcome of over 50% passing votes with endorsement from wallet addresses combined holding at least 2,000,000 GAL, with delegation allowed.

Read more about the full Governance Process and Project Galaxy’s DAO Governance Process and how to submit proposals here.

When a proposal is passed, the changes will be implemented by Project Galaxy’s operation team and signed by the multi-sig, if necessary.

On May 5th, The $GAL Token was launched on Binance Launchpad, with the arrival of the token comes the first Governance Proposal: Community Treasury and Multisig Signers.

What are the Treasury Multisigs?

The Treasury Multisigs is a group of 9 members voted by the community to act in the best interest of the Project Galaxy DAO. Their role is to review community proposals that have successfully reached a 50% passing vote and an endorsement from Wallet addresses holding at least 2,000,000 GAL. Their role is then to approve any uses of Project Galaxy funds and allocate them to the proper team for execution. Any transaction requires at least 6 signatures out of 9.

Who can apply and how?

Project Galaxy DAO is opening 9 spots for the muti-signature wallet signers. In order to best represent the community and the best interest of the Project Galaxy DAO the multisig team should represent diverse stakeholders within the community:

  • Long term community advocates
  • Core team members
  • Long term Project Galaxy Partners
  • Project Galaxy early stage investors

GAL holders will have one week, from May 23rd to May 30th, to nominate themselves as candidates for the role in the comments below. Interested members will need to write a short summary of their involvement with Project Galaxy as well as why they believe they would be a good fit for the role. GAL holders will then be invited to vote on who they would like to see in the treasury community and the highest votes will be chosen for the role.

To apply :

  1. Provide the name and Twitter handle of the person you would like to nominate. You may also nominate yourself.
  2. Write a summary of their involvement or future planned involvement in the Project Galaxy ecosystem.
  3. Post it as a comment below.
  4. Community members can cast their votes via the “like” button on each individual comment. ( like a test poll)
  5. On June 3rd, we will post candidates on Snapshot for GAL token holders to vote.

Read more about the Project Galaxy DAO Governance Process and how to submit proposals here.

161 Likes

Perfect idea. Lets goooooo

19 Likes

We should carefully consider the right person for the job.

12 Likes

waw, i like project galaxy

10 Likes

I’m very happy I’m part of comunity

9 Likes

Where to vote, no entrance found

7 Likes

must be careful in choosing proposals issued by the community, these are very cool projects

7 Likes

That’s Great Project Galaxy DAO

6 Likes

expecting some big names on this, SBF, CZ…etc.

4 Likes

I nominated sanyi.eth @ylm5573 as one of the multi-sig signers

He has been with us for a long time and share campaign information. He has been promoted as Galaxy Brain recently and gained the trust in our community.

6 Likes

DJ Bob would be great :grinning:

4 Likes

wish $GAL pump in next bullish🚀

4 Likes

Hello everyone, I’m Chu,(Twitter@laochu_eth)it’s an honor to speak here, I joined the world of blockchain last year, and before joining the Project galaxy, I was mainly active in the Rabbithole and zapper communities.

Luckily, my friends gave me some advice when I joined the world, and as a result, I didn’t lose much money. I’m a patient person, and sticking to long-termism has kept me away from a lot of mistakes, and certainly it prevented me from getting rich overnight.

Galaxy is a starting point for me to understand web3. Galaxy’s unique on-chain data interaction method makes me feel the friendliness and unique charm that distinguish it from other communities. Galaxy girl, cowboy, Dr. Sol, the updates of the series of tasks have allowed me to contact and learn more knowledge, and also let me see the vastness of the blockchain world. At the same time, the luckiest thing is that I have gained a lot of friends who have the same views, and they have brought me a lot of happy times.

In my limited knowledge of the blockchain world, impatience is indeed the main reason for failure. I hope to see the world slowly build and progress, and I also hope to grow with the Project Galaxy.

I would like to apply to be a member of the Galaxy Community Treasury and Multi-Signers, it will be my honor to hold on to my responsibilities and serve the Galaxy community.But honestly, if the job requires proficient English skills, then maybe I’m not up to it. .

Of course, regardless of the outcome, I will strengthen language learning in 2022, which is in my plan, and I will continue to participate and support project galaxy.

Finally, I wish that everyone can get what they want in this world. Although the process is bumpy, we will win in the end.

30 Likes

I am honored to be a member of Galaxy

4 Likes

Hello Astronauts , I’m Jason . It is my pleasure to nominate Steven Lei ( @stevenkin ) , a long-time Project Galaxy contributor and Galaxy Brain , to be one of muti-signature wallet signers of Project Galaxy DAO .

Overall , He is intelligent and with incredible problem-solving skills , and has more than 20-year experience as a Full-Stack Developer on web2 and use his expertise to make outstanding contributions cross the Web3 .

His major contributions to the community as below:

  • Continuously support on Discord since December last year, both technical and non-technical side , His diligence and hard work won him the highest praise from our community .

  • During the Meta Cowboy campaign , he created the Galaxy Explorer which helped almost every astronauts explore Web3 through Project Galaxy’s campaigns , and have gained incredible bounties and rewards .

  • Gather a group of people to translate the doc into chinese and help chinese users from all over the world embark on a challenging but rewarding adventure .

In conclusion , I think there is no doubt that he is the perfect person to be nominated , his personality merits and the capabilities will keep our treasury safe and bring a better outlook for the whole community .

22 Likes

I nominate stevenlei#1667

7 Likes

expecting some big names on this, SBF, CZ

3 Likes

Great, let’s do it.
I hope that trusted people will be selected for this job

3 Likes

Very much looking forward to the growth of the Project
Galaxy step by step

4 Likes

This is a great idea, I’m ready to help achieve the project goals​:+1:t2::rocket:

3 Likes