Phoenix Foundation: Appointment of an Emergency Supervisor

Hello everyone,

I asked on Telegram why not 5 Stewardship Directors instead of an Emergency Supervisor. Philipp’s answer was that accountability has to come first, otherwise we’d be entrenching the dysfunction. I agree accountability comes first. I just don’t think it’s one or the other, and I’m clearly not the only one thinking about board size here: defi_patriot and David mentioned 5 or 7, and Rose said she’d rather expand the multisig than concentrate it.

The way I see it, the Emergency Supervisor looks into the A272 concerns first, hears all four Directors and reports back. If someone has to go after that, the decision comes back to Terra governance with the report in hand, and with a replacement on the same vote, like defi_patriot suggested. In the meantime we start an open process to get to 5.

Adding seats doesn’t shield anyone from the review. It just means that once it’s done, we’re not one disagreement away from another 2-2, and we don’t go down to 3 either.

@cryptobull growing the board isn’t rewriting the rules, the Bylaws already tie the number of Directors to the multisig. It does take time and consensus, which is exactly why it’s worth starting now and not after.