MIP 133 - Add Spearbit as a DAO multisig signer and update threshold to 6/10

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MIP 133 - Add Spearbit as a DAO multisig signer and update threshold to 6/10

Summary

This proposal asks the Morpho DAO to approve the addition of Spearbit as a trusted signer on the DAO multisig and to increase the multisig signing threshold to 6-of-10 on Ethereum.

The objective is to strengthen the DAO’s operational security by adding a professional, independent signing party with dedicated secure signing procedures, while preserving the DAO’s ability to execute routine governance and operational transactions.

If approved, the DAO would:

  1. Add Spearbit as an additional signer to the DAO multisig.
  2. Increase the multisig threshold to 6-of-10.
  3. Fund Spearbit’s trusted signer services from the DAO fund.

Proposed changes

1. Add Spearbit as a DAO multisig signer

The DAO would add Spearbit as an additional signer to the DAO multisig.

Spearbit would provide multisig trusted signer services for the DAO. Based on the proposed service scope, Spearbit would support signing operations through defined secure communication and verification processes.

2. Increase the multisig threshold to 6-of-10

After adding Spearbit, the DAO multisig threshold would be increased to 6-of-10.

This change is intended to increase the number of required approvals for multisig execution, thereby improving resilience against signer compromise and operational error.

3. Pay Spearbit from the DAO fund

The DAO would pay Spearbit for the trusted signer services using DAO funds.

Based on the provided fee schedule, the expected initial annual service cost is:

Description Scope Cost
Trusted Signer 1 multisig / 1 signer $18,000
Prescheduled monthly transactions Up to 2 per month $15,600
Total cost $33,000

The service would last a year and start from the end of the vote.

Additional ad hoc or off-cycle transactions would be billed separately if needed and paid by the DAO.

  • Standard off-cycle transaction fee: $650/hour, with a minimum 60-minute increment.
  • Urgent approvals within 72 hours: 2x the standard fee.
  • Urgent approvals within 24 hours: 2.5x the standard fee.

Hourly fees would be billed monthly for time delivered in the previous month.

Implementation

If this proposal is approved:

  1. The DAO multisig signers would coordinate with Spearbit to complete onboarding.
  2. Spearbit’s signer address would be added to the DAO multisig.
  3. The DAO multisig threshold would be updated to 6-of-10.
  4. The DAO fund would be used to pay Spearbit according to the agreed fee schedule.
  5. Authorized personnel, communication channels, fallback channels, and signing procedures would be documented and shared with the relevant parties.

Voting options

  • For: Add Spearbit as a DAO multisig signer, increase the threshold to 6-of-10, and fund the service from the DAO fund.
  • Against: Do not add Spearbit as a signer and do not change the DAO multisig threshold.
  • Abstain: Take no position.
2 Likes
2

The move to a 6-of-10 threshold appears to provide a meaningful increase in security, particularly with Spearbit acting as an independent signing party. One aspect worth monitoring is the practical impact on execution times for routine and urgent transactions, especially given the additional coordination required by a higher threshold. It would be useful to review this after the first few months and assess whether the new setup improves security without creating meaningful operational friction.

3

The vote has ended. We’re coordinating with the Spearbit team and will share the verified addresses here once we have them.

4

The signer on the DAO multisig will be the following multisig: 0xaD0E1B385A6E2D5Aa4C72F37dCDd4dafD63CeD8f

with the 2 signers:

  • 0x4c4eec8acab0ce65076b82d84fca263fe41ba35f
  • 0xd757d6a02cd5af9aef163d7eb8034f75ac22b553

with the following verification signatures:

Attestation that 0x4c4eec8acab0ce65076b82d84fca263fe41ba35f is a signer of 0xaD0E1B385A6E2D5Aa4C72F37dCDd4dafD63CeD8f for Morpho Multisig

0x69dc54e1e5c018ad0fdc511b006b7f72eae040158c79754461fed6319567a74703dfac70c4eddb6265c6c738d4a9e3b57add48042650367d3a9fbd9be5538e8e1b

This is an attestation that 0xd757d6a02cd5af9aef163d7eb8034f75ac22b553 is a signer of 0xaD0E1B385A6E2D5Aa4C72F37dCDd4dafD63CeD8f for Morpho Multisig


0x3ed741e397f83a096893a233b88aa53baa45f95bbf51ad3586145ff940fa0a2f7d909019e82428203ded407be9d3337b70b609849a5058f611ff115c68b695ca1c