Safeguarding the Ecosystem — The implementation of Gnosis

Sep 18 2023
4 min read

In our efforts to further enhance security and transparency within the PAW Ecosystem, we have implemented multiple multi-signature wallets to safeguard our reserves and ensure the preservation of our Ecosystem long into the future.

These wallets are Gnosis Safe Multisig Wallets managed by the Core Team who have all completed the CertiK KYC process.

The current core team are from PAW, LLC that is hired by the PAW Ecosystem at inception to build a decentralized, self sustaining project. This is not to be confused with the self sustaining ERC-20 token ($PAW).

PAW, LLC can be rehired by the PAW DAO after the project is self sustaining, or be removed and the PAW DAO can vote to hire another team all together.

Multi-Signature Wallets

This is the Development Multi-Signature Gnosis Safe that holds the funds for developing the utilities. This wallet will no longer be needed at DAO Handover and consists of a 4/5 Multi-Signature Authorization, meaning 4 of the 5 people need to sign for all transactions.

PAW Development Multi Sig 0xCF77ef43df2A8dD8f3f95dBddE3865589D5f8572

This is the Marketing Multi-Signature Gnosis Safe that holds the reserve funds for Marketing, outreach, CEX/MM. This wallet will no longer be needed at DAO Handover and consists of a 4/5 Multi-Signature Authorization, meaning 4 of the 5 people need to sign for all transactions.

PAW Marketing Multi Sig 0x102773C89aCb830f211498805950d86d57DC56b0

This is the PAW Treasury Multi-Signature Gnosis Safe, which will accrue fees from all utilities and be turned over to the DAO at handover. This consists of a 6/8 Multi-Signature Authorization, meaning 6 of the 8 people need to sign for all transactions.

PAW Treasury Multi Sig 0xd98759817D1cA613636B7f51c92F0C9930c47AD9

Initial Token Distribution

Upon launch, the team employed several lock events through a 3rd party smart contract locking toolkit called Team Finance. These events lock tokens away for set periods of time, improves the security of the project, and helps build trust with investors. These tokens are used for developing the PAW Ecosystem and for rewarding holders for things such as Staking, Validating, Delegating, and providing liquidity to PAW Swap.

$PAW tokens were locked in the following schedule:

Team Finance Unlocks

The control of the Team Finance unlocks will now be given to the PAW Treasury Multi Sig contract to ensure further security of funds. In future, all contracts that are developed for $PAW that require ownership functions will have the PAW Treasury as its owner for security purposes.

Timelock Implementation

Timelock Contract Address: 0x1D8bA59405Fdb67d2F73B48e31296E00F2d5d339

We have implemented a timelock contract to enhance security further. Many of our contracts for PAW utilities will require ownership so they can be modified, such as the staking APR adjustments. To ensure that these functions are as secure as possible, the owner of these contracts will be the timelock contract. The Treasury Multisig is the owner of the timelock contract.

This arrangement means that whenever a change is made, the multisig, consisting of 6 core team members, will need to approve the change. The tokens that are locked in Team Finance are controlled by this contract, ensuring that the community receives a 48-hour notice before any movement takes place. Of note, funds already withdrawn from Team Finance and set in the existing multisig wallets are not subject to timelock.

We would also like to extend a huge thank you to CertiK for all their engagement, recommendations, and continued efforts to help us ensure PAW Ecosystem is one of the safest projects in web3.