Recap of Governance call from April 6th, 2021

  1. One of the first things discussed on the call was what specific details the community would like to see from a Secret Foundation transparency report. Some items included:

-Any sales of SCRT to VCs.
-The foundation at times makes contracts in terms of SCRT. As USD prices rise and fall, will the foundation renegotiate these contracts and how often?
-Why is the foundation no longer running as a non-profit?
-How much funding in USD will the foundation need each year to accomplish its goals?

  1. Concerns were made that in the future larger entities such as exchanges may run their own nodes and control a large block of voting power. Other chains have had a problem of large blocks such as these not voting or participating in governance. How can the community head off this hypothetical problem now before it becomes an actual problem later? Can the foundation help us solve this? In what capacity?

  2. How should we choose leads for the governance committee? Should we have permanent leads or should they be rotated and how often? Should governance leads be compensated? If so, some believe the compensation should not come from the foundation. Some have suggested compensating leads or governance expenses via a community proposal.

  3. How often should we hold governance calls? Weekly, every two weeks or monthly?

  4. We discussed what norms we would like to encourage around different types of community proposals. Opinions varied widely between having discussions about proposals on the forums vs voice calls vs telegram and discord rooms. Some people thought all channels had their merits. There was a concern that using forums owned by Enigma or the foundation created a conflict of interest and a suggestion was made to create an independent governance forum on another site.

If I missed anything important, please let us know below. Please let us know when you think we should have the next governance meeting. I only led the call last time because no one else seemed ready to do it so if anyone feels like leading next time give me a shout.

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Some of my notes + darren.

Governance Meeting 4.7.2021

Intro:

  • Secret Foundation is planning to provide transparency report for 2020 and Q1 2021 which just ended

Requests to include in transparency report:

  • Off-chain balances of Secret Foundation (VCs)
  • Salary information in SCRT
  • Rationale behind non-profit status
  • How much funding is needed each year (range)?
  • Yearly cap from % inflation based on what is needed each year for the Secret Foundation
  • Assessment of impact for onboarding large players (exchanges, large nodes, etc.)

Purpose of Secret Foundation:

  • Growth Focused
  • How is the scope of the Secret Foundation determined?
    • It was noted the price is volatile in both directions, how is the foundation supported if the price goes down, as most assumptions are based upon the price going up.
  • Mission of Secret Foundation is to drive adoption, usage of network, provide support and investment for growth opportunities, to plug holes using resources for growth and support
  • Fully decentralized cannot counterparty in negotiations, as a growth , establish relationships to benefit over everybody

Governance Committee Formalization

  • Leadership -not- from the foundation
  • Frequency of meetings
  • Rotating leads
  • Need someone to keep things organized and to move things forward
  • How are conflicts of interest addressed in this committee?
    • Everyone has some form of conflict of interest, biggest concern is individuals driven by self-interest versus what’s best for the larger community/ecosystem
  • Norms as opposed to leads
    • If you don’t follow a norm, it just means you might generate bad will.

Medium of Communication

  • Telegram vs Forums
  • How do we get rid of the idea of a “Foundation owned channel”
    • Forum structure is preferred, but apparently management is contended?
  • Neutrality of the space = neutrality of the individual
  • Lots of support for voice calls for proposals, but with an understanding that we have an international community where everyone has differing degrees of english skills.
  • Voice calls also suffer from scalability
  • Neutral platform/site created for discussion and posting proposals.
  • Community spend

Community Sentiment:

  • Non-profit to for profit: Reservation things changing and not being communicated
  • Everyone wants foundation to be properly funding vs staking reward for small percentage
  • How can we give a rough estimate when dont know whats in future - exchanges partnerships, etc
  • We are having this problem because as an ecosystem has grown (0.30), we don’t know how market is going to react, big unknown is what,
  • Norms for governance proposals - direct control
  • SNACs inefficient give people control

Onboarding:

  • If onboarding large players - impact of onboarding these players, Exchanges not voting, limit impact on governance vs impact on growth
  • Is onboarding exchanges a net positive or net negative? Net positive as long as negative impact is mitigated
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