Making some additional updates to this draft based on feedback and more conversations with folks, in particular revising how the Treasury Committee is appointed to give the community a direct vote on appointments, specifically:
(1) The Treasury Committee will still have 9 seats - 8 filled by the community and 1 by the Chief Investment Officer
(2) All 8 community seats serve 4 year terms, with 4 seats re-appointed every 2 years to provide continuity (so we’re not always facing a totally new board). At each appointment time, the Endowment will provide a list of proposed Treasury Committee members, based on conversations with the community, and that list must receive 2/3rds approval via a SIP vote (similar to the process with the initial Appointments Committee)
(3) Keyholders will be a separate role from voting members of the Treasury Committee and will continue to serve indefinitely to minimize how often key rotations are needed. Keyholders may still be members of the Treasury Committee but don’t have to be - they’re appointed/removed by a 2/3rds vote of the Treasury Committee
(4) To fill the seats on the Treasury Committee initially, a majority of the seats (5 of 9) will be appointed by the Appointments Committee. For details on the Appointments Committee, see the forum post on that
Additionally, to enable the initial setup of the Endowment, three existing leaders from the Stacks ecosystem who are making substantial contributions to the Endowment (either via their entities or personally) and have substantial experience in managing large crypto treasuries will be appointed as keyholders as well as members of the Treasury Committee, with their seats up for re-appointment at the first appointments period in 2 years. These include Alex Miller (CEO of Hiro), Mitchell Cuevas (Interim Director of the Stacks Foundation), and (Muneeb Ali, Co-Founder of Stacks).
You can see the full text in the SIP draft here.
PS: Yes, I’m aware its a little funny that I’m proposing myself as one of those first appointees, but I’ve discussed this with a number of community members and think it makes sense