Multisignature account

As Morpheus develops in a fully decentralized and open-source manner, there is a need to deploy, manage, and upgrade Smart Contracts until all functions are fully automated in the future. A multisignature account is essential for ensuring transparency and security, especially since Morpheus contracts hold tens massive amount of ETH.

Set Up Process and Key Holders

Based on recommendations from cybersecurity experts and auditors, a Gnosis SAFE multisignature Smart Contract has been deployed on the Ethereum, Base and Arbitrum chains. This setup requires 5 out of 9 key holders to sign transactions:

• All key holders are trusted community members.

• Each key holder has extensive experience in cybersecurity and between 6 to 12 years in the crypto space.

• The key holders are geographically and jurisdictionally diverse.

• None of the key holders belong to the same company.

• For personal security reasons, the identities of the key holders will remain confidential.

Multisignature Evolution

It’s important to note that the key holders have minimal control over the Smart Contracts. Most of the contract functions cannot be modified by the admin (which is controlled by the multisig). As the Smart Contracts evolve and mature, it is expected that the admin key may eventually become unnecessary and burned. However, this decision must be carefully considered, as it would make future upgrades by the community more difficult.