Matrix of Multisig and Timelocks

Transparency on the role of the multisig

Ethena is required to implement safeguards in order to provide connective tissue between DeFi and centralized liquidity venues. The multisig is used to minimize these trust assumptions for core onchain functions.

Roles	Multi sig	Number of role	Functions	Notes
Owner	Yes, Ethena org	1	transferOwnership, add/remove supported collateral asset, add/remove custodian addresses, setUSDe address	If desired, owner and admin can be different multi sigs setUSDe address is redundant, to be removed
Admin	Yes, Ethena org	1	grant/revoke Minter, Redeemer, Gatekeeper roles
Gatekeepers	No, EOA controlled by Ethena plus external trusted organisations	At least 3	Disable mint/redeem functionality, remove Minter, Redeemer roles	Will include external trusted organisations to be gatekeepers. Limits damage on mint/redeem roles compromise. Disables mint/redeems when they execute at incorrect prices on chain.
Minter	No, EOA controlled by Ethena	20	mint() transferToCustody	Mint/Redeemer roles to be the same set of 20 addresses. This is to ensure the system can handle a high load of mint transaction concurrently.
Redeemer	No, EOA controlled by Ethena	20	redeem()	Mint/Redeemer roles to be the same set of 20 addresses. This is to ensure the system can handle a high load of mint transaction concurrently.