SIP-00XX: Designation of Exchequer Committee Multisig

The Exchequer Committee (EC) serves a vital function for the Sovryn protocol - management of treasury funds per Bitocracy budget resolutions. The EC was initially formed through SIP-0015 and included 5 core team members and 2 funder representatives. Two of these members, who were part of the core team, left the project due to personal reasons. It was proposed that there be representation from the community as well, in order to balance the core team and investor members. Two prominent and very active community members have volunteered to participate as a EC members and have been involved in EC meetings in an informal capacity for the last couple of months. I personally believe that these community members should be formally added to the EC and be signing members of the EC multisig. They bring valuable perspective that the core team members sometimes lack. They can then also be able to help in our efforts of increasing transparency in how treasury funds are spent.

This SIP is meant to officially appoint the two new members and will allow us to continue progress on the following EC initiatives which are expected over the coming month:

  1. 2021 Financial Reporting
  2. 2022 Budget Approval
  3. Exchequer Dashboard and Reporting Cadence

The draft SIP can be found here:


Congratulations Adam and David! I think this is well deserved. Looking forward to it.

Some concern i’d like to point out is that most of the adresses stated in the SIP could not be found / seem to not exist. Maybe it’s a fault on my side, could anyone verify that the stated adresses exist or explain why they cannot be found via rsk-explorer?


I believe they’re all fresh addresses we created with no prior history specifically for Exchequer. So I imagine that’s why there is nothing to see yet.


First, this is not intended as disrespect for either of the community members chosen. While these two might be great choices, I’d like to know how these were chosen? By the community? Shouldn’t we have set up a location where the community members who would like to be a part of the committee could sell themselves to the community and be voted on by the community? I have heard of others that might like the chance, but it seemed like the decision was already made. I believe we did something similar for community members to feel comfortable delegating their voting power to another wallet.

Personally I’d like to take a step back and let community vote on the community members prior to voting on this SIP.

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I think this is a good point and I believe that the best way to achieve it is through development of the delegation system. Right now the Bitocracy interface needs a lot of work in order to make it much simpler for community members to propose themselves as delegatees and start building reputation based on that. Once this is in place I think it will be a lot easier for the community to rally behind proposals that they support and have them raised for bitocracy. Amongst these can be proposals to change the EC composition.