UPDATE: Proposal #79 has successfully passed. This post is published now for the purpose of archiving.
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This signaling proposal has three components:
- Election of a new roster of members for Inter Protocol’s Economic Committee;
- A change in the size of the Economic Committee; and
- Removal of the role of Economic Committee Secretary.
The members of Inter Protocol’s Economic Committee (EC) serve annual terms and are voted into office via an Agoric on-chain governance proposal. The current Economic Committee’s term is about to expire. Accordingly, it is time to consider the composition of the EC for the next 12 months.
Additionally, DCF proposes that the size of the EC be reduced from 6 to 3 members, and for the role of the EC secretary to be suspended. See DCF’s arguments in favor of this motion here.
All present members of the EC have been informed of the above-mentioned proposal, and we’re pleased to announce that Chloe White, Chris Berg, and Joe Clark have indicated their willingness to serve another term. DCF affirms that these three EC members have done an excellent job, and the continuation of their service for another term would be the least disruptive option with respect to the health of the protocol. Accordingly, DCF hereby endorses their candidacy to remain EC members for another term (1 year).
The members are proposed to be:
For detailed information and deliberation of the aims and responsibilities of the Economic Committee, please see the original discussion, now available on the forum.
Members will serve a 12-month term beginning the date that they receive their new Economic Committee invitations (which bestows governance privileges to these 3 members and revokes from the others), via upgrade 18 to the Agoric chain. Upgrade 18 is planned to go live ~mid-November and is subject to Agoric’s standard release process. Members will be compensated with an annual stipend of US$50,000 each, which is currently being paid by the DCF.
FAQs:
Q: Why can’t there be a vote for each potential member, and the candidates with the top 3 votes are elected in?
A: The way that Cosmos chain voting currently works is by binary vote, either Yes or No on a proposal. There isn’t a way to vote on multiple proposals and adopt the three that received the most votes.
Q: What if I would like to support additional / different members for the EC?
A: At any time, the community may post a discussion to the forum as well as an on-chain governance proposal for BLD stakers to vote on. For this particular vote, having a comprehensive description of the proposed members and their qualifications is most helpful for the community to be able to have an informed discussion.
Q: What are the steps to post an on-chain governance proposal for the BLD stakers to vote on?
A: Proposals are voted on, Yes or No, in their entirety. It is recommended that any on-chain proposal be posted to the forum for at least a 7-day discussion period before posting an on-chain vote. Posting on-chain will require a deposit of 500 BLD, which will be refunded if the proposal is not voted no-with-veto. Voting is currently a three-day process.
What happens if you vote YES
- The size of the EC is adjusted down from 6 persons to 3;
- The position of Secretary of the EC is eliminated;
- 3 persons are elected to serve on the EC for the next year. They are:
- Chloe White
- Chris Berg
- Joe Clark
What happens if you vote NO
- No changes to the EC structure
- No one is elected to the EC
- The present EC continues to serve until another vote is organized
- A new proposal will have to be raised to fill the seats and keep the EC functional