Governance Meeting Notes Mega-Thread

@orageux101 already explained it quite well, but just to add to it, this is a document C1 is developing to help decide their own vote and make it clear to outsiders why they vote the way they vote. They will use it across all the chains that they run a validator on.

An additional benefit might be that people feel more secure in submitting a proposal when they know what they will be judged on by the biggest validator in Secret Network at the moment.

More info in the linked full notes.

2021/07/14 Abstract:

  • Proposal #41 will transition to a SNAC.
  • The Secret Foundation Q2 Transparency Report is expected to be ready by the end of the month.
  • A mini-survey was distributed to gather feedback on the Community Curated Bounty List (CCBL). Out of 16 respondents, 15 support the CCBL in principle and 1 has no opinion. See the full notes for the responses to the mini-survey.
  • The CCBL potentially opens the door for teams to bid against each other and thereby create a race to the bottom; this could be prevented by adopting a first-come first-served approach for smaller projects. Above a value threshold a RFP process would be necessary. One of the reasons for creating the CCBL is that we don’t have all the development capacity that we would like right now, so competition might not occur at first. A pool working group could keep the CCBL updated by submitting a monthly signalling proposal to keep the list up-to-date and prove continued support for it’s contents.

General Action points:

Everyone:

Validators:

  • Please message @pmuecke on Discord or Telegram with your preferred method of contact and the corresponding contact details. We will use this information to try to improve governance participation.

Full notes:

1 Like

2021/07/21 Abstract

  • Secret Roadmap is being developed by several committee leads and receiving input from Enigma. It will clearly define the strategic vision of the network and KPIs that support that. Should be demand focussed.
  • Short term we should investigate the maximum validator and inflation rate change parameters. Learn from other networks.
  • We will form a working group on the topic of the Community Curated Bounty List to further develop the concept and push for implementation.

Action points

Everyone:

Validators:

  • Please message @pmuecke on Discord or Telegram with your preferred method of contact and the corresponding contact details. We will use this information to try to improve governance participation.

superfish:

  • Loosely gather some data to have some insight in sell-pressure of SCRT to provide insight in the inflation discussion. Create a short report and sync with pmuecke.

Dumdidum:

  • Find out best practices in PancakeSwap governance.

Tor:

  • Reach out to Zaki to find out how proposal #48 influenced them (inflation rate change parameter increased to 100%).

pmuecke:

  • Reach out to validators and explore what is needed to increase governance participation.
  • Set up a working group to work out details of the CCBL and formulate next steps.
  • Sync with superfish on the sell-pressure data.

Full notes:

1 Like

2021/07/28 Abstract

  • Two alternatives for the definition of the Circulating Supply for Secret Network are being discussed. Either list all current coins as the circulating supply, or, subtract the coins we consider non-circulating (ecosystem pool, on-chain pool, portion of Engima holdings that are locked up, foundation seed funds, other coins with their own vesting schedules). The last option currently seems to be preferred, but if anyone has a strong feeling in either direction, please speak up on the forum thread linked above.
  • The CCBL working group has created a draft for the CCBL implementation and its processes. See the full notes for the details.
  • The Secret Foundation Q2 Transparency Report will be discussed next week (Aug 4; 15:00 UTC; chat.scrt.network).

General Action points

Everyone:

  • Consider joining the Community Curated Bounty List working group.

  • Think about the definition of Circulating Supply for Secret Network and respond on the forum thread ([DISCUSSION] Circulating Supply Reporting).

Full notes:

Abstract

  • Tor hasn’t had a chance to go over the numbers yet to do a sanity check and confirm the numbers are 100% correct. Therefore this week he went over the format of the Transparency Report and some of the high level achievements over the last months. Next week we will discuss the exact numbers and have time to do a Q&A session.
  • Several committees are looking for (additional) leads: awareness, bizdev, and development. We currently don’t have applications / people taking initiative to lead. A RFL (Request for Lead) could help to get people to lead these committees and help get charters sorted. A forum thread will be created to discuss this topic.

Recordings

Part 1: 20210804-part1.wav - Google Drive
Part 2: 20210804-part2.wav - Google Drive

Action points

Everyone:

  • Do you have any questions you would like to have answered within the Transparency Report? Please post them in the Discord Governance channel (https://chat.scrt.network/) today (Aug 4).
  • Consider joining the Community Curated Bounty List working group.
  • Think about the best ways to attract qualified committee leads and discuss it in the RFL (Request For Lead) forum thread ([DISCUSSION] RFLs - Requests for Leads).

Full Notes:

Abstract (2021-08-11)

Action points

Everyone:

  • Read the draft charter and accompanying proposal for the Governance Committee on the forums and give feedback. (Governance Committee Charter)
  • Consider joining the Community Curated Bounty List working group.
  • Think about the best ways to attract qualified committee leads and discuss it in the RFL (Request For Lead) forum thread. ([DISCUSSION] RFLs - Requests for Leads)
  • Think about ways to improve communication and information exchange between committees and those unable to make it to the weekly meetings.

Full Notes:

Abstract (2021-08-18)

  • Analytics and Education committee charters are expected to be posted on the forums this week.
  • Some people have already signalled interest for some of the open committee positions (specifically a co-lead for awareness and dev). A Request for Lead (RFL) might therefore not be necessary. One of the main issues with finding (co-)leads is that people want to contribute but can’t make the calls.
  • The committee meeting notes posted on the forums are considered really helpful, and probably is the most effective way to improve communication between committees and those unable to attend meetings. The education and design committees are planning to increase awareness of open projects on the forums. The Secret Agent overhaul will also focus on asynchronous improvements.
  • We have recently hit 50 out of 50 validators again, increasing the ‘MaxValidators’ parameter soon might reduce the threshold for new validators to join. Such an increase will affect blocktime but it is mostly a coordination issue, not a technical issue.
  • Sentinel bases foundation delegations to validators on criteria. (Sentinel Mainnet Foundation Validator Delegation Criteria | by Sentinel | Sentinel | Medium) A formal system to check these types of delegations periodically may also be a good idea for Secret Network.

Action points

Everyone:

Full Notes:

Abstract

  • Infrastructure and Education committee proposals will likely be posted on chain today (August 25th). Data (formerly Analytics) committee will go on chain on Friday August 27th.
  • The Community Curated Bounty List (CCBL) Idea form is live now, please send in your ideas so they can be included in the upcoming Validator Survey! A draft of the CCBL process is now available in slide form. See the full notes for further details on the CCBL.

Action points

Everyone:

  • Provide feedback on the data (analytics), infrastructure, and education committee charters on the forum.
  • Vote on the upcoming on chain proposals (data, infrastructure, and education committee proposals).
  • Submit ideas for Community Curated Bounty List (CCBL) projects. Link: https://forms.gle/vm9h5hy6KGBmjXaR6
  • Provide feedback on the CCBL process before it is sent to validators (next week). Link: CCBL Process - Google Slides

Full Notes:

1 Like

Abstract (2021-09-01):

  • The first Validator Survey will most likely be sent out early next week, if there are any questions for validators or Community Curated Bounty List (CCBL) project ideas you would like to add please do so before the end of the week!
  • SNIP20s do not have timestamps in the tx history, therefore it is very hard to properly do your taxes if you do not have all your viewing keys you have used in the past. This data could be approximated, but it’s not a straightforward tool to build and there are edge cases (mint and burn; might be solved by looking at gas usage) which complicate the matter. A migration to SNIP22 would solve this going forward, but a tool would still need to be built for past transactions. Everyone agreed a migration should happen, but there is no consensus on the timing and process of such a migration. Stop gap measures (for example a tooltip to remind people to store their Viewing Keys) could be implemented to buy us some time until more permanent solutions can be developed. See the full notes and forum thread for more details on this discussion.

Action points:

Everyone:

Full Notes:

Abstract:

  • All 4 last committee proposals passed with good voting percentages (lowest 42%, highest 64% of staked SCRT). The awareness committee will go to the forums with a new proposal soon and the Secret Code Podcast is thinking about a spend proposal as well.
  • Another discussion regarding the SNIP20 migration happened during the Griptape office hours. Consensus seems to be that a number of important updates are coming that will require migration anyway, that being the case we should wait for that. We should just make sure that it doesn’t become 8 months to a year before we migrate. In the meantime we should work on tools to help out with the current issues to fill the gap until migration. A Migration Working Group should be formed as soon as possible, ideally this includes Enigma, Superfish, Sandy, and a project manager (perhaps Stefan or someone from SF?).

Actionpoints:

Everyone:

Full Notes:

2 Likes

Abstract (2021-09-15)

  • ‘Upgrade’ to secret-3 was briefly summarized by Carter, the best and most complete explanations can be found in the pinned posts on Discord and Telegram: https://twitter.com/SecretNetwork/status/1437856678830133258
  • Incentivizing new / small validators was brought up by Schultzie (lavender.five). This might be a good time for Enigma to reevaluate their staking strategy with everything that has happened in the past 2 days, and those that have stepped up during that time. Schultzie will create a forum thread to discuss the topic further. (How to Incentivize new Validator nodes)
  • The governance committee will look into starting monthly decentralization reports, more to come in the upcoming weeks.
  • As the IBC upgrade gets closer it may be a good time to start the discussion / research into a new maxValidator amount again.

Action points:

Everyone:

Full Notes:

Abstract:

  • The Awareness Committee (Awareness Committee Proposal 10/1/21 - 12/31/21) and the Secret Code Podcast (Secret Code Podcast Spending Proposal) will be going to the chain with spend proposals in the next few days.
  • In the next few weeks the governance committee will create a draft of a monthly governance report (based upon previous decentralization reports by secure secrets).
  • The upcoming validator survey is postponed by a few weeks to allow ample discussion of all submitted CCBL ideas in the governance calls, going through these ideas during the main meetings seems to trigger interesting governance discussions.
  • Should the SNIP20 to SNIP22 migration be fast tracked in view of the SecretSwap staking contracts migration? (Fungible Token Migration (Snip-20 --> Snip-22))

Action points:

Full Notes:

1 Like

Abstract

  • The awareness committee and guerrilla marketing collective spend proposals are on the forums and are about to hit the chain. (most likely in the next days)
  • Community pool funding of start-ups is done case-by-case, certain projects might require more time before they are self-sustaining. Public good initiatives should be able to ask for continued support for as long as the community values its contributions. Performance indicators are important but are already typically found in proposals.

Action points

Full Notes

Abstract

  • There are currently 3 spend proposals in the on-chain voting period: Guerrilla Marketing Collective, Awareness Committee, and BizDev Committee. Please cast your votes.
  • Secret Foundation are looking for people to lead dev committee calls, a tech evangelist, and someone overseeing the fellows, overseeing development, and working with Enigma.
  • Discussion around spending proposal pay-rates sparked a discussion around a ‘Secret Network Charter’ which could start by setting community supported pay-rates as decided by a signalling proposal. The governance committee can then include in the regular updates to validators whether a proposal follows the suggested guidelines put in such a charter.

Action Points

Full Notes

1 Like

Abstract

  • The APIs have been under increased stress the last few days due to the influx of new users and the launch of SIENNA, queries seem to be the main culpret. Three main public APIs are available right now: DataHub, Community API, and CoS API. All have been overloaded over the last 3 orso days. The IBC upgrade should improve the amount of queries per second by approximately 4 (currently around 100 contract-queries per second per node). New hardware will take 2 or more months to arrive so if we want to expand the community API capacity we should consider this as soon as possible.
  • Discussions regarding spend proposal pay-rates seem to agree it should be based on the price at submission and increased by 20%. If the actual result (in USD) is >10% lower a second proposal is put on-chain for the difference. Upper limits should be formulated and all above details validated in the upcoming Validator Survey and a resulting Signalling Proposal.
  • SF is in talks and looking to take steps in providing additional support roles. They see the need and want to plug any holes. Enigma is also open to increasing support. SF is looking into different time zones to increase global coverage.

Action Points:

Full Notes:

Personally the average from the day before doesnt make sense to me. Lets say yesterday the average price was 50% lower or higher than today. Doesn’t make sense to use. Having the 20% buffer for volatility is the buffer. We could just use the price at market when the proposal is submitted.

2 Likes

I agree. Consensus was price of the moment you go to chain

1 Like

Will add it to the notes

Abstract Additional Meeting (15/10)

  • The discretionary budget consists of community funds to be spent to further the committee and the community. It’s risky if you don’t immediately switch to USD for USD costs. These calls should be at the discretion of the proposer / lead, but should be explainable to the public and be transparent.
  • One hard to define issue is where does the committee stop? What is in-scope and what is out of scope? If we limit it to just what is in the proposal or charter it becomes too restrictive. Make the decisions in the moment that you feel are necessary but explain those expenses if asked for. It should be explainable to the public and be transparent.
  • People with different backgrounds might value contributions differently, but all contributions are valuable as long as they help the community. Putting this into guidelines for a ‘Secret Network Charter’ with suggested pay-rates is very hard, but we should get input form the entire community to take steps forward with this.

Full Notes:

1 Like

Abstract

  • A new infrastructure proposal (‘the Spartan proposal’) is on the forums to increase the number of nodes of the community API. This proposal is centered around physical hardware.
  • Ownership of public good hardware should be further discussed if it continues to increase in the future.
  • Consensus seems to have formed that all spend proposals should be based on USD values at the time of submission with a 20% increase for potential swings. If at the end of the vote the value of the received SCRT is 10% lower than the original ask (in USD), a second spend proposal would immediately be ‘approved’ for the difference.
  • Discretionary budgets spending / conversion to stable coins really depend on the specific proposal, for some spends it will be important to immediately convert to a stable coin, for others (paid in SCRT) it might not be necessary. In the end it is the responsibility of the proposer(s). Mismanagement should be taken into consideration for future proposals.

Action Points:

Full Notes:

1 Like