DAO Bootstrappers
Bootstrapping the DAO
The Y-Foundry DAO relies on several key groups to enable its operation, including the Caretaker Council and Treasury Multisig. These groups are temporary in nature and are intended to support the DAO during its early stages of development, with the goal of phasing out over time as the platform becomes more established. The Caretaker Council provides guidance and direction to the protocol, while the Treasury Multisig is responsible for securing a portion of the treasury until the DAO determines it is ready to be self-managed by the Forge. Both groups bring valuable expertise and experience to the table, helping to ensure the success of Y-Foundry as it grows and evolves.
Caretaker Council
The Caretaker Council is a temporary group of experienced and respected members of the YFD community, with expertise in the Cosmos ecosystem, crypto governance, or other related fields. Their role is to provide guidance and direction to the protocol during its early stages, advising the DAO on key issues and helping to prevent governance attacks.
As more members of the DAO become involved in governance, the Council’s influence will naturally diminish over time due to the nature of the fYFD voting power (link here). The Council’s main purpose is to help ensure a smooth launch and successful scaling of YFD. Once this has been achieved, the Council will no longer be needed.
Treasury Multisig
The Treasury Multisig is a group of key individuals within the Cosmos ecosystem who have been entrusted with the responsibility of securing a portion of the treasury until the DAO determines it is ready to be self-managed by the Forge (link here).
When it has been determined that the Forge is ready to manage the treasury independently, the Y-Foundry DAO will create a governance proposal (link here) to transfer all funds from the Treasury Multisig to the Forge. This proposal will be carried out in accordance with the governance processes of the DAO, ensuring that the decision is made democratically and transparently. Once the proposal has been enacted and the funds have been transferred, the Forge will be fully responsible for the management of the treasury.