Hi all,
I have a proposal for a new feature for Catapult, ideas and discussion are welcome.
Signing transaction by vote.
This would be a new multisig feature of Catapult to give more possibilities for DAO.
The idea is that for example, for a transaction to be sent, it has to be signed by Alice OR Bob AND a POI (POS+) vote with 65% YES votes from e.g. 50 other wallets (or all wallets with POS+ score, depending on setting).
Importance of signatures could be calculated by either default (XEM POS+) or by selected mosaic (Mosaic POS+).
This setup could be appreciated by a company with a Board of directors + shareholders etc.
Now let’s discuss the issue that made me think of this proposal.
At the beginning of the year, community supported NEM Labs with extremely positive score.
But, Core team rejected the idea with a main point that NEM Foundation will oversee everything and members of Labs should apply to Foundation.
Now a few months later, Core team announces a seemingly similar project to NEM Labs - NEM Studios. This was without community consent and till this day, very few information given (who will work in Studios other than 2 people mentioned, what is the funding structure etc).
As Core team spent funds that were originally created for this purpose, this is all played by the rules. It is also OK for Core team to have funds available to spend on DEV tasks.
But as NEM is getting big and we all want it to be a top class blockchain, we should try to decentralize some of the ecosystem funds.
To my knowledge, 8 people from Core team hold ecosystem funds of about 3 billion XEM (please correct me if I’m wrong):
Post-V1 Fund - 400 - Fund stakes: 900,000,128.00 XEM
NEM Sustainable Ecosystem Loop Fund (NEMSELF) - - Dev-Fund : 869,583,719.59 XEM
Pre-V1 Fund - 250 - Fund stakes : 532,738,340.63 XEM
Silver Coins for Distribution to Stakeholders - - Dev-Fund : 211,885,446.63 XEM
Unconventional Marketing - - Dev-Fund : 201,629,909.63 XEM
Mobile Application and NCC Development - - Dev-Fund : 155,442,576.94 XEM
and more.
My proposal is that Core team should keep some of the funds to spend on projects of their choosing, but some funds could be unlocked only with consent of community (i.e. transaction signed by 5/8 core team AND 3% POS+ with 65% YES). Maybe a third party, like Foundation or PMC committee could also hold some keys, that is for later discussion.
To close my speech I would like to give appreciation to Core Devs, Core Team and Foundation for their great work so far. This proposal should not be taken personally even if it might seem to be aimed against Core team. I just feel that decentralization is important if we want to scale this project further.
Matus