Proponent: 14pa3BAYZLPvZfRDjWEfZXZWBVU45E67HUQEUxNCrdXGoata

Date: 2024/11/11

Duration: 3.5 Months

Proposal Payment: 31,704 DOT ($134,500, DOT price EMA 30 4.243)

Short description: This is a follow up proposal to our previous retroactive proposal. This proposal outlines the enhancements and optimizations made in Mimir 2.0, a multisig product that aims to improve asset management and governance within the Polkadot ecosystem.

With the introduction of Mimir 2.0, users can utilize 1/N multisig, batch transactions, staking, as well as proxy accounts. This comprehensive approach enhances flexibility and security, making Mimir an indispensable tool for secure asset management in Polkadot.

Project Category: Infrastructure/Dapp

Website: https://app.mimir.global/

Github: https://github.com/mimir-labs

Detailed Proposal: [Retroactive]Treasury Proposal- Mimir 2.0 - Multisig Optimization And Proxy

Introduction

What is Mimir?

Mimir is the ultimate multisig wallet built for enterprises and advanced Web3 users. With Mimir, users can manage their multichain operations in a secure, efficient and cost-effective manner all while enjoying a unified user experience. A 1st winner of the 2023 Polkadot Asia Summer Hackathon in Application Track and 2nd runner-up in the 2023 Polkadot Winter Hackathon in Ecosystem Developer Tools Track, Mimir has evolved into a fully-fledged product with expansive network integration and increasing user adoption.

What has been done in Mimir 1.0?

User statistics

Mimir has onboarded over 230 multisig accounts and served more than 1,400 addresses. Public chain teams are utilizing Mimir multisig wallet for asset management, whereas multisig-based DAOs are employing Mimir for governance-related activities.

Trusted Partner: Polkadot Mexican, Mosaic

Supported networks

Mimir supports the largest number of network integrations among multisig products in Polkadot. Specifically, we have integrated a total of 22 networks, including 11 networks in the Polkadot ecosystem, 9 networks in the Kusama ecosystem, 2 Substrate solo chains and 2 testnets.

1. Polkadot & Parachains: Polkadot, Polkadot Asset Hub, Collectives, Coretime, People, Acala, Bifrost, Crust, Pendulum, Phala, Hydration
2. Kusama & Parachains: Kusama, Kusama Asset Hub, Coretime, People, Amplitude, Bifrost Kusama, Karura, Khala
3. Solo chains: Vara, Crust
4. Testnets: Rococo, Paseo

Integrated applications

Mimir is also the multisig that supports the most applications in Polkadot. Integrated applications include: Subsquare, Bifrost App, Crust Files, Polkadot JS, and Polkadot Staking Dashboard.

Social media engagement

On social media, our Twitter account has grown from zero to over 13,000 followers. We have organized a total of 8 social events in collaboration with various networks, communities, and applications, engaging approximately 200 participants in each event.

What is in plan for Mimir 2.0?

With Mimir 2.0, in this proposal, we plan to introduce new features along with improvements of existing features. To be specific:

1. View, add, and manage various types of proxy accounts
2. Stake, unstake, and manage stakes on the Polkadot Staking Dashboard
3. 1/N multisig – multisig with a threshold of 1
4. Store transactions in cache for future batch processing with support for nested batch operations
5. Add any accounts to watchlist

Ecosystem Fit

Mimir's product design philosophy focuses on enhancing user experience by providing a more user-friendly solution. The Polkadot ecosystem boasts powerful underlying technology, with Substrate's Pallet capable of achieving almost any function yet the ecosystem is lacking user-friendly interfaces. From multisig to proxy and batch operations, Mimir is committed to making these features more accessible. We continuously optimize and iterate on our products to support the growth and prosperity of the Polkadot ecosystem.

Use case: DV Cohort 3 Account Structure Analysis

ChaosDAO: Votes are collected off-chain and cast by the 146H address. If any issues arise, they can be amended by the emergency committee at 15QH.

LeNexus: Votes are collected off-chain and cast by the 11JZ address.

KusDAO: Votes are collected off-chain and cast by the 13KM address.

Polkadot Hungry: A committee composed of a 3/5 flexible multisig account.

Saxemberg: Votes are collected off-chain and cast by address 16XI.

Lucky Friday: An EOA account that gathers input from the community

As the ecosystem evolves alongside the advent of Polkadot 2.0, the increasing demand for fund management within the Polkadot ecosystem requires effective multisig and proxy solutions. Without these, the barriers to entry will significantly increase, impeding ecosystem development.

Mimir aims to simplify the creation of complex account models that meet diverse needs. By providing product solutions, Mimir empowers users to easily build sophisticated account structures tailored to various scenarios.

Budget

Payment details

DOT Price (EMA30 on 11/11/2024): $4.243

Total USD: 134,500

Proposal Payment: 31,704 DOT($134,500, DOT price EMA 30 4.243)

A more detailed breakdown of the budget can be found here.

Additional Information

Github: https://github.com/mimir-labs

Mimir Website: https://app.mimir.global/

Twitter: https://twitter.com/Mimir_global

Telegram: https://t.me/+t7vZ1kXV5h1kNGQ9

Email: [email protected]