MIP#32
Vote Option:
Yes - Initial Payment After Discount: $9,200 USD (Including 3 months service charge + Initial Set Up Charges and then subsequent payment: 2,400USD per month)
NO
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Objective:
To enhance operational efficiency and transparency, we need to address task delegation and segregation of duties moving forward. This proposal aims to establish a robust framework for MVC's digital asset management through cooperation with a trustworthy third party for an all-in-one system, ensuring operational efficiency, transparency, and security across various operations within MVCDAO.
Segregation of duties:
[As per Constitution MIP-1 Including but not limited to]
Finance & Compliance Team:
Generate monthly operational expenditure reports.
Review proper reimbursement distribution according to DAO proposal resolution and budget.
Prepare financial statements in collaboration with (Sinophoe - Stage 2 When Sinophoe release this feature in the future)
Enforce compliance of non-investment vehicle principle.
Oversee general code of conduct compliance and verification of internal mis-information.
Ensure liquidity weekly & monthly transprancy report, various financial reports are shared to all committee member.
Re-allocation of market depth and liquidity resources according to budget or MM instructions.
Administration & Committee Team:
Oversee general operational affairs.
Provide general registration and identity verification assistance.
Conduct internal advisory and audit (Committee).
Represent MVC in ambassadorial capacities (Ex: AMA & Twitter Space).
Faciliate communication between committee & community
Support campaigns & activities.
Organize conferences & events.
Moderate inquiries
Provide proper navigation services and guide members to the relevant communication channels or personnal.
Manage website upgrades and updates.
Update TG [Rose] & Discord Bot & Space AI
Network Awareness/Exposure Team:
Foster media and CEX collaborations.
Engage in news writing and partnership development.
Coordinate conferences & events.
Organize AMAs and influencer collaborations.
Expand global network awareness.
Campaign with various communities for network expansion.
Confirm general partnerships.
Node Team:
Ensure node operation and upgrades.
Update programming languages (e.g., Rust).
Builder Program [Committee & Technical Inspector Group]:
Facilitate Dapps development.
Implement SDK upgrades.
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Proposal Details:
Introduction to SINOHOPE
SINOHOPE, a Hong Kong-listed company (Stock Code: 1611.HK), is renowned for its reliability and compliance, making it an exemplary partner for MVC's digital asset management needs. Their expertise in MPC Wallet and Wallet as a Service, combined with significant media coverage and industry recognition, establishes them as a cost-effective and supportive partner for MVC.
Why MPC Wallet?
MPC-TSS technology revolutionizes asset custody by merging shared private key fragments and collaborative signatures, thereby eliminating single points of failure and enhancing security. Benefits include:
Autonomy and security superior to centralized custody solutions.
Independence in fund control, protecting against misappropriation and scams.
Support for T-N multi-party signatures and multi-level digital asset management for enterprises.
Enhanced security over decentralized wallets through shared private key management, negating the need for traditional private key storage and mnemonic words.
A robust disaster recovery plan for private key fragment recovery in various scenarios.
Sinophoe proposed solution for MVC:
Companies that SINOHOPE has collaborated with:
SINOHOPE Awards and Licenses:
Service Offering and Pricing Structure:
Service & System: $3,000 USD per month
Initial Setup and Integration Fee: $2,500 USD (One-time charge)
Discount Offer: 20% off the total initial payment.
Initial Payment After Discount: $9,200 USD
(Calculated as $3,000/month x 3 months x 80% + $2,500 x 80%)
Future Payment:
Future Monthly Cost: $2,400 USD
Future Quarterly Cost: $7,200 USD
Payment Cycle: Quarterly
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Package Included:
Self-Custody Platform: A secure and efficient one-stop virtual asset servicing platform that adheres to principles of security, compliance, professionalism, and dynamism.
MPC Wallet: A multi-party computation (MPC) wallet that utilizes advanced MPC-TSS (Threshold Signature Scheme) technology for secure self-custody of assets.
Wallet as a Service (WaaS): A complete and powerful MPC wallet infrastructure that can be seamlessly integrated into applications, offering security, low cost, and fast integration.
Multicloud Encrypted Storage: Provides encrypted backup storage for private key shards on both the Sinohope platform and third-party platforms.
Private Key Shard Multi-level Backup: Features auto-encrypted user private key shards with password encryption for full control and the ability to appoint an administrator for emergency backups.
Online Multilocation Storage: Ensures high availability and reliability through distributed storage of private key shards.
Three-Layer Isolation of Equipment: Offers security through the separation of different components of the system.
Offline Cold Data Storage: Provides a secure method for storing private key shards offline.
Professional Third-Party Backup & Recovery: Offers a professional recovery service to ensure multi-subject crisis recovery.
Automatic AML and KYT Process: Incorporates industry-leading service providers to build a secure capital flow network with an experienced compliance team.
Co-managed Approval Process for Organizations: Supports multi-level private key derivation for corporate/vault/wallet management.
Support for Extensive Asset Types: Uses EDDSA and ECDSA signature algorithms to support all mainstream public chains and can add public chains and currencies as per customer needs.
Security and Compliance: The platform is built with security and compliance in mind, addressing issues like hacks, thefts, and black address transfers.
Customized Solutions: The package offers customizable solutions suitable for various types of clients, including hedge funds, exchanges, mining pools, Web3 project owners, market makers, family offices, DAOs, banks, financial institutions, brokers, and venture capital firms.
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Implementation Steps:
Agreement Signing: Formalize the partnership through a service agreement.
KYC Onboarding: Conduct Know Your Customer (KYC) process and onboarding.
Account Setup/Delivery: Establish the account and initiate service delivery.
Payment: Process the agreed payment.
Integration:
Implementation: After Integration.
For further details, please visit the SINOHOPE official website: https://www.sinohope.com/en
Disclaimer & Remarks:
Space is not an investment vehicle:
MVCDAO emphasizes that Space, the native gas of the MVC network, is not intended for investment or speculative purposes. Its value and price are subject to the utility demand within the MVC network, which may lead to price fluctuations. We strongly discourage participants from purchasing Space with the intention of investment or speculation. MVCDAO does not make any commitments or guarantees regarding the price or value of Space. When holding Space, it should be used exclusively for participation in MVCDAO governance or for utility purposes within the MVC network.
Purpose of the proposal:
This proposal is not intended for investment analysis or induction. Participants and all members should refrain from interpreting it as such.
Conflict of interest declaration:
The author of this proposal has not received any commission.
Risk Acknowledgment:
The author and operator disclaim liability for losses that may arise from system failures or the actions of any third-party asset management entity.
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