First Keyper Selection Process
Key information regarding the vote
Voting is live, and the voting period will last seven days. Voting ends on Friday, the 18th of August, at around 17:00 CET.
This vote uses
Approval Voting, and members can vote per proposal to either approve the proposal or not. When you are voting, simply select all the proposals that you wish to approve .Each proposal must gain a majority of approval, more than 50% approval rate, to be selected as a Keyper for this set.
Keypers are crucial to the Shutter Network’s operations, responsible for generating encryption and decryption keys to secure network transactions. This vital role supports a system that prevents ‘malicious MEV’ and promotes fairness in DeFi, playing a significant part in the wider Ethereum ecosystem. The setup and operation of this role are not complex or expensive.
The Integral Role of a Keyper in the Shutter Network
In the Shutter Network, Keypers have an essential job: they keep the protocol running by generating certain encryption and decryption keys.
Keypers operate a node that creates these keys for different uses, such as votes in the Snapshot integration of Shutter or for transactions in any protocols where Shutter is used.
This role plays a big part in how the Shutter Network stays secure. It involves using methods called threshold encryption and Distributed Key Generation, which the Keypers manage. These create a type of digital lock that can only be opened when a certain number of Keypers work together. This is how the network ensures its transactions are secure and can’t be tampered with before their inclusion and order are fixed.
One of the biggest jobs within the Shutter protoDAO is managing these Keypers, including running a fair Keyper Selection Process and making sure any changes to the Keypers are made properly on the blockchain.
The protoDAO Voting Process
Once the period for posting proposals has been concluded, a member creates a list of the applications and puts a proposal on Snapshot. The members of the protoDAO then vote on this list. If the vote is successfully passed and the accepted Keyper set determined, there is a cooldown period before the proposal is executed by the multisig group, updating the list of Keypers on the Gnosis Chain.
Governance of the Keyper set
Members of the Shutter protoDAO will periodically vote on selecting and updating the set of Keypers used in the Shutter Network protocol.
This is the first vote and will hopefully significantly decentralize the Keyper set from the current setup.
The community has created 13 proposals for becoming Keypers in this first Keyper set.
We strongly urge the protoDAO members to review these proposals before voting. All the proposals for this vote can be found here at the Forum.
https://shutterdao.discourse.group/tag/keyper-set-1
Voting on Snapshot
Voting is live, and the voting period will last seven days. Voting ends on Friday, the 18th of August, at around 17:00 CET.
This vote uses Approval Voting, and members can vote per proposal to either approve the proposal or not. When you are voting, simply select all the proposals that you wish to approve.
Each proposal must gain a majority of approval, more than 50% approval rate, to be selected as a Keyper for this set.
Vote now
The minimum quorum for this vote is set to 4 members voting. We hope that as many protoDAO members as possible will participate in this first vital governance process for Shutter.
