MIP - Creation of a MORPHO Rewards Committee Multisig

MIP - Creation of a MORPHO Rewards Committee Multisig

  • Author(s): Morpho Association

Context

The MORPHO token has been successfully used to bootstrap markets on Morpho Blue and formerly on Morpho Optimizers. To date, 4.5% of the total supply of MORPHO tokens has been distributed to users.

However, managing MORPHO rewards is a slow and cumbersome process, requiring frequent DAO votes and many operational tasks for the DAO multisig.

To reduce the operational burden, the association proposes creating a Rewards Committee Multisig responsible for handling MORPHO rewards as part of Morpho reward programs.

Specification

The Multisig would be a 3/5 Safe contract managed by 5 members of the Morpho Association.

The Rewards Committee Multisig will be responsible for carrying out the reward decision approved by the DAO by vote. The DAO Multisig will ensure that they have sufficient MORPHO to ensure these operations.

Next Steps

If the vote passes, the next steps will be followed to make this happen:

  1. Creation of the Multisig
  2. Whitelisting of this Multisig to transfer MORPHO tokens by the DAO
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Gm from Aragon!

Aragon is a proud governance tooling service provider of the Steakhouse Financial vaults on Morpho, a depositor in several Morpho vaults, and ecosystem partner. We would be more than happy to provide the wallet based multisig for the Rewards Committee from our existing tech-stack. Some benefits include:

  • Fully human readable UI - decreasing risk
  • Easier to use UI with finance page
  • ENS subdomain name - morpho.dao.eth
  • Custom actions - this custom action on our smart contract composer would allow for an easier way to send rewards to the pools and require no audit (to be scoped by product team if required)
  • Dapp Connect - DAO to dApp action builder

A final benefit of this deployment is its ability to change over-time. Built on Aragon OSx this multisig if the Morpho DAO decided and accepted by multisig signers could adapt in the future to any other governance methodology allowing the Morpho Rewards Committee to adapt as market factors change in the industry. This is due to its modular architecture.

If you would like to test the Aragon App you can here.
Aragon X’s own operational multisig.

Aragon is committed to serving the needs of the Morpho Association and the Morpho ecosystem with governance tooling. We’d appreciate any feedback or questions.

Merci beaucoup!
Leuts.eth
CEO - Aragon

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