Hi all. The security committee has added two additional signers and updated the signing thresholds to 3-of-5. This was primarily done for two reasons:
- It’s a best practice that further makes the security of the protocol more decentralized and resilient to attacks.
- It was a requirement as part of a process related to potential better L2 LPT support in the liquidity ecosystems.
As a reminder, the security committee was ratified as part of the LIP process, and has two main purposes: 1) take action to protect and secure user value within the LPT protocol in response to any potential bugs and exploits, and 2) execute the LIPs approved via community governance.
Still, in its current form, the security committee remains relatively private for the sake of sound security practices and to eliminate attack surface. Decentralizing this further into community control, in terms of how signers get added or removed is a near term priority, and one of the goals of the proposed Protocol Security SPE. There are a number of options for this being considered including community election process and governance tooling.