Compensation guarantee for SegWit implementation using BTC multisig escrow

[wiz]

This is a Bisq Network proposal. Please familiarize yourself with the submission and review process.

Summary

Recently an implementation plan for adding SegWit support into Bisq was proposed by @oscarguindzberg in #226, which passed with strong approval. However, this is a very large project which will span several months, and it has been estimated it will cost at least $30K USD to complete the project.

Therefore, in order to financially incentivize @oscarguindzberg to implement SegWit into Bisq, I propose to establish a 3 of 5 multisig Bitcoin address to escrow BTC to guarantee compensation to @oscarguindzberg for his work on the SegWit project, according to the following terms.

Terms

1. Bisq team leads @ripcurlx @sqrrm @wiz, together with the project lead @oscarguindzberg, and a Guarantor (TBD), will create a 3 of 5 multisig escrow Bitcoin address.
2. The Guarantor will deposit 3 BTC into this multisig address, which will entitle the Guarantor to claim 3 BTC worth of BSQ from the DAO towards @oscarguindzberg's compensation on the SegWit project.
3. If @oscarguindzberg wishes to claim more than 3 BTC worth of BSQ from the DAO for his compensation on the SegWit project, @oscarguindzberg will do that in his own separate compensation proposal.
4. The BTC will only be released to @oscarguindzberg from the multisig escrow after the BSQ compensation proposal by the Guarantor is approved by the Bisq DAO.
5. If @oscarguindzberg does not complete the SegWit project by April 1, 2021, the BTC held in the multisig escrow will be returned to the Guarantor.
6. The rate used for "3 BTC worth of BSQ" will be calculated using the "30 days average BSQ/BTC trade price" at the time of compensation proposal creation.
7. Any dispute between @oscarguindzberg and the Guarantor on the terms of the multisig escrow will be resolved using binding Arbitration with the Bisq team leads @ripcurlx @sqrrm and @wiz

[wiz]

This proposal is amended as follows:

1. The project estimate is increased from $30K to $45K USD, and this has been approved by @ripcurlx for dev team budget allocation
2. The compensation guarantee is increased from 3 BTC to 4 BTC, and this has been approved by the Guarantor
3. If the 4 BTC in multisig escrow is not fully utilized after payout to @oscarguindzberg at the time of completion, the remainder BTC if any will be refunded to the Guarantor
4. The 5 multisig key holders will use Electrum
5. The project criteria for delivery is defined in Segwit support implementation projects#42

[wiz]

Closing as approved

[wiz]

The 4 BTC is now held in 3 of 5 multisig escrow.

[wiz]

After cycle 17 payout, about 3.15 BTC remains in 3 of 5 multisig escrow.