Managing the CC Multisig wallet
An additional 1 key is created for any new CC Bitcoin Multisig wallet to be hold by an OC or otherwise trusted community member. In the current setup this translates to a 4/7 Multisig. This extra key protects and deters against attacks on the CC where without this extra key only three council members could take CC funds hostage or even destroy funds simply by refusing to sign any transactions. The key-holder of this extra key will only be asked to sign a transaction if the funds or the functioning of the council is at risk.
So this other key holder would have no voting rights when it comes to CC refunding requests? Happy to do this if someone from OC will put their hand up. Or it could also suit some long standing member who cares about Grin but doesn’t want to deal with politics and is willing to help out in a worst case scenario.
This is a great option for allowing community member to give Grin governance a try without having to ‘commit’ for the longer term to the council. In case a representative step down, the key-holder can simply jump to activity again to prevent any disruption to the council’s governance.
If a CC member steps down while they have a representative in their place. Would the representative then be offered the position based on a 4/6 appointment? or would CC hold another election?