Governance Meeting Notes Mega-Thread

Secret Governance
122

Abstract

  • SCRT Labs has a new CEO: Alex Zaidelson; for all the details check this forum post by Guy: Refueling Secret's growth with new leadership
  • The IBC Relayer fee grants have been set up, if you are a relayer and haven’t submitted your address yet, please reach out to Saturn Alex.
  • The staking page for Secret Dashboard is close to release, this page will allow users to stake/restake/unstake their delegations using wallets that do not have in-wallet staking support yet.
  • Secret Dashboard is planning to extend their functionality over the coming months eventually leading to a wallet-like experience using MetaMask integrations.
  • Once the SNIP-20s are upgraded following the v1.11 upgrade we should consider focusing on permits for dApps instead of viewing keys. This could help improve UX.

Action Points

Full Notes

123

Abstract

  • Alex Zaidelson, the new SCRT Labs CEO, introduced himself to the community and answered questions, see the full notes for more info.
  • The trustee will be invited for next week’s call to give an update on the SNF transition.
  • A new roadmap will be created over the next 2-3 weeks, this will not just be a roadmap but also include a story and vision for the network.
  • A full rebrand of Secret seems unlikely at this moment due to the history and momentum we have using the current brands. Rebranding causes a loss in recognition and thus is a risk, the costs vs rewards just aren’t there.
  • The SNF board is being formed at the moment, discussions with some prospective members that understand the privacy space and can help guide us are underway.
  • The stkd-SCRT validator set is going to change in the near future, there will be some changes to the previous model: inclusion of score for IBC relayers, increasing the hard commission limit to 10%, and there is now room for 20 validators receiving 4% with the remaining 20% going to secure secrets.

Action Points

Full Notes

1 Like
124

Abstract

  • The final tax strategy for SFI is getting closer, once that is known it will also become clearer whether the 2021 taxes need to be amended.
  • SNF is fully formed from a legal point of view but is still collaborating with the old foundation while they build out their infrastructure and functionality. We’re moving over step by step and going as fast as we can.
  • SNF currently has runway until the middle / end of November, which gives time to sort out the SFI tax situation and get another short term infusion, or work on long term plans.
  • A revised grants program is likely coming in the next 2-3 weeks together with the new roadmap. It will be more modest than what we had in the bull market and be more focused to benefit and help execute the vision of SCRT as a privacy and confidentiality hub for the entirety of web3.
  • Expedited proposals should probably get a higher threshold to ensure wide community support and prevent a subpopulation of the community voting in the first 24 hours. This would also help with preventing non-urgent / emergency proposals being posted as an expedited proposal.
  • It may be interesting to look into increasing the threshold for normal proposals as well. The community seems to want a more difficult environment for proposals to pass and this may be an elegant way to achieve that.
  • The current proposals to add the shillables and sienna network contracts to the hardcoded admins in the v1.11 upgrade are not guaranteed to be appended even if the proposals pass. An alternative solution that also gives plenty of time for their communities to give feedback is to ask SCRT Labs to consider adding these contracts in the v1.12 upgrade.

Action Points

Full Notes

125

Abstract 2023/09/18

  • Part of the community thinks proposals pass too easily, a way to address this could be to increase the threshold of regular proposals as well as expedited proposals. This makes the default more difficult to change, this also relates to parameters such as taxes.
  • Creating auto-voting solutions could instead provide similar functionality with less dev time using scripts and authz. This could also be made on-chain similar to auto-restake but that would take more dev lift. All auto-voting comes with inherent risks though.
  • A sizable part of the community seems to want to decrease the active set size, some by a little to for example 75, others by a lot to for example 50.
  • It may make more sense to focus on the USD value of the threshold into the active set, at peak bull that was around 1M USD. This, as well as a delegation strategy, can be tweaked to target specific validator subpopulations.

Action Points

Full Notes

126

Abstract 2023/09/25

  • The v1.11 upgrade will occur tomorrow afternoon UTC, service may be temporarily interrupted as all nodes and dApp update.
  • The Secret API team is reducing their node count to 52, the node count may be adjusted further in the future.
  • Parts of the community would prefer the inflation to be reduced following a set schedule. What the exact percentages should be is still up for discussion. Potentially we could use on-chain parameters to adjust the inflation over a long period of time instead of developing something new.
  • SNF and SCRT Labs are working on revamping developer grants, it may be a good idea to require developers to make good documentation and learning documents along with the contract itself. If we invest in the builder, we also want the builder to invest in future builders.
  • The moderators across all the community channels will likely be reevaluated, if you have feedback regarding the process behind this please respond to the Community Guidelines forum thread.
  • The Community Guidelines will not be used to permanently ban active community members. In cases of extreme violations there may be exceptions but that would require consensus of the moderating team and community.

Action Points

Full Notes

127

Abstract 2023/10/02

  • The v1.11 upgrade was smooth and successful. The hardcoded admins feature has been delayed until the v1.12 upgrade which is expected within the next month.
  • The maximum block size has been reduced from 21 MiB to 1 MiB in an expedited proposal by SCRT Labs to prevent potential for abusing such a large block size which could impact network performance. In the unlikely event that developers are impacted by this, please reach out.
  • The community seems to want to see DAO tooling before considering the Community Pool proposal which aims to institute a type of Senate.
  • Shade is working on getting a grant for a team to cross-deploy DAODAO to Secret with SNIP-support. They are in talks with a team that has worked on Secret before. This would be step 1 to allow for public DAOs on Secret, private DAOs could then be investigated after having this base functionality.
  • The testnet committee is looking to decrease their next proposal down to 6-8 validators instead of the current 10 to be more in line with the number of validators in practice.
  • It seems there is support to decrease the active set size to 75 (down from 80), since we currently are at 72 active validators following the v1.11 upgrade this seems like a viable proposal.
  • Testnet parameters are now more in line with mainnet, this includes the maximum gas per block parameter. If developers need more than 6M gas per block, please reach out.

Action Points

Full Notes

128

Abstract 2023/10/09

  • Send Patrick a message if you’d like to be considered for a community moderator position.
  • Important topics such as inflation and the community pool should have proper discussions on the forums as well as other governance channels in order to ensure broad community support.
  • The roadmap is coming along and hopefully will be ready around the middle of October.

Action Points

Full Notes

129

Abstract 2023/10/16

  • The v1.12 upgrade will happen tomorrow and add the hardcoded admins that were supposed to be enabled in the v1.11 upgrade as well as the two proposals that were after the deadline for the v1.11 upgrade.
  • Ledger has changed their workflow regarding app-updates. They no longer do internal audits and instead it is required to do an audit with one of two companies. The cheapest for the next small update is 5k EUR for the audit and should take around four weeks.
  • Future updates to add support for signing clear text message developed by StarShell and textual signing upstreamed from cosmos Ledger app would be bigger updates and likely be more expensive. Everything upstreamed from the cosmos app would already be audited previously so these additions should be cheaper than novel additions.

Action Points

Full Notes

130

Abstract 2023/10/23

  • The v1.12 upgrade was successful but took a little longer than usual due to an issue with the binary, within an hour the chain was up and running again.
  • Governance calls will move to 7PM UTC starting next week (Oct 30th, EU wintertime) and will henceforth shift DST depending on the European shift instead of the American shift.
  • Alex from Secret Saturn has joined SNF as full time dev rel. He will continue his work on the dashboard and ledger app outside of this SNF appointment as a secondary priority.
  • There is a proposal to port DAODAO to Secret Network, more information and answers to community questions can be found in the forum thread.
  • An ‘Open Source Funding Policy’ proposal is now available on the forums to ensure ‘publicly funded’ applications are open sourced to ensure benefit to the community.

Action Points

Full Notes

131

Abstract 2023/10/30

  • The Secret Ledger App Audit proposal will move to the community pool, without the development hours for Saturn Alex. Payment to the audit company needs to be made by wire transfer, looking into the best way to do this, potentially through SNF or Shade.
  • The DAODAO team has answered all the community questions, please respond on the forums if you have further questions. If not, the proposal will likely go on-chain on Thursday or Friday.
  • The Open Source Funding Policy is aimed to create open source code with a permissive license by projects funded by the community pool and potentially also grants. SCRT Labs will overhaul their grants policy in the next months and likely also include an Open Source section there.
  • The API proposal has been amended, immediately reducing the funded nodes to 27 and reducing to three providers. Taariq, Saturn, and Ian will each provide 9 nodes going forward. Ian is stepping down as co-lead so Saturn Alex will be solely leading this proposal going forward.
  • There is vSCRT left from the Surge rewards, in collaboration with SCRT Labs the remaining funds will likely be used for Secret Ethereum rewards on Shade. This will be evaluated on a week-by-week basis by SCRT Labs.
  • Early next year SCRT Labs will investigate a tokenomics overhaul, mainly focusing on inflation. Things like the number of validators and a potential SNF tax may be included as well. SCRT Labs would like a clear view of the pros and cons of reducing inflation and better understand it. This will include several scenarios and their effects on for example network security and validators’ bottom line.
  • SCRT Labs is starting their annual delegation review in the next weeks, which will also serve as input for the inflation discussion and getting a better idea what their value and economic parameters are.

Action Points

Full Notes

1 Like
132

Abstract 2023/11/06

  • The governance call is held every Monday at 7PM UTC and transitions to and from DST together with Europe. Please make sure you have the timings in mind around the DST shift, to make this easier there will be additional calendar notifications.
  • The Secret Ledger App Audit can now move forward as the auditor has agreed to a USDC payment, through their coinbase account. It may be interesting to see if SNF can be used for wire transfers without tax liability in the future.
  • The Open Source Funding Policy has been altered based upon community feedback in the previous governance call, it will not act retroactively.
  • The max_memo_characters proposal was a mixup between the TX and IBC memos, nothing needs to change and thus the proposal is retracted.
  • Megan joined SNF roughly 4 weeks ago as the people operations manager and introduced herself to the community in the call.

Action Points

Full Notes

133

Abstract 20231113

  • Please give your feedback to the MRSIGNER to MRENCLAVE transition forum post in the next few weeks as SCRT Labs plans to start working on it at the start of 2024.
  • The API proposal for Secret Express will transition to using 3rd gen hardware from the Spartan proposal once that hardware is supported in 2024. No further changes are planned until the hardware is supported.
  • The SNIP-50 specification was released and shared on the forums as an advisory to allow contracts to burn the remaining gas before it leaves the enclave. Its authors (StarShell) suggest all contract developers include it in their contracts.
  • Megan at SNF has begun the process of researching pay bands and is drafting a game plan for the general contractor experience when working for the foundation. She is planning to have a draft prepared by the start of next year.
  • Megan will be spearheading the organizational chart related things to be able to display and illustrate how the foundation is functioning, who is in charge of what, the contacts for different needs, job descriptions, and having the numbers for spend based on target goals for 2024.
  • Depending on the outcome of a poll in the governance telegram room we may host the governance call of November 27th in that same telegram room as the crypto community seems to have shifted from Discord towards Telegram.

Action Points

Full Notes