We decided to share our first proposal, which we’re going to submit with the launch of SEFI governance. We wanted to post it here first to allow some discussion first. Please share any thoughts, comments or questions below.
Now that SEFI will have an official governance channel, we (Enigma) propose a complimentary mechanism to enforce the execution of decisions. Proposals as approved by Governance are text only, and some (if not most) will have actionable clauses. The executive committee is responsible to execute these directives.
We feel that having an executive committee is an important complimentary to decentralized governance which allows for proposals to be pushed and is responsible for making sure the vision of the network is executed.
The main purposes for this committee are:
- Responsibility for executing the proposals approved in governance proposals
- Working towards advancing SEFI as a token, SecretSwap as a product and its part in the DeFi ecosystem on Secret Network as a whole
We propose the following structure for the executive committee (5 seats total) -
- Two seats for Enigma
- Two seats for members of the community
- One seats for the Secret Foundation
The committee will have the following executive powers, which will allow it to make quick decisions, maintain flexibility and implement policy -
- Spending of up to 40% of the dev fund on a monthly basis
- Modifying up to 20% of the distribution of SEFI rewards
Decisions by the committee will be voted on, with a majority consensus deciding the result. In case of a tie, the vote will be considered rejected.
The committee will be transparent as possible, except in cases where discretion may be required (for example, if working on a sensitive promotion with another platform).
We suggest that the community seats on the executive committee be selected by the SecretSwap Committee, and be included in the version of this proposal when it goes to a vote.
The structure outlined in this proposal will be valid for 6 months, after which it will be re-evaluated and will require a new approval via governance vote.