Governance board
The governance board's role is to help transition into a fully decentralized on-chain community governance system. This page is to keep the community in the loop on the board's activities.
After Oceanpoint v0.3, governance responsibilities will be transferred to a multi-sig wallet controlled by a Governance Board, where seats will be split: 33,33% founding team (2 seats), 33,33% mentors and/or advisors (2 seats), 33,33% community representatives (2 seats).
Over the course of one year after the Governance Board begins its mandate, the board will work towards increasing the amount of seats by on-boarding elected members of the community, increasing the community's voting power.
0xfb531d5602fC0953be047605c77a7d289729ea8a
- Denis Petrovcic (founder seat)
- Viktor Brajak (founder seat) - Peter Merc as "proxy"
- Simon Kruse (advisory seat)
- Achim Jedelsky (advisory seat)
- Sa Fo (community seat)
- Cryptovium (community seat)
- 1.Analyse and vote on Deepwaters exchange listing proposal
- 2.Agree on a general frequency for governance board meetings
----------------------
After the listing vote for Blocksquare passed, our board needs to analyse the exchange and vote on the listing.
Votes:
- Proceed with listing?
0 - yes / 5 - no / 1 - not present - Monitor progress of Deepwaters?
5 - yes / 0 - no / 1 - not present - Explore other CEX options?
5 - yes / 0 - no / 1 - not present
Supporting arguments on the decision:
The main concern the board has is regarding Deepwater exchange's volumes, which are not currently tracked by popular sites like Coinmarketcap or Coingecko. As BST is currently only traded on Uniswap, listing on a non-listed CEX like Deepwaters would potentially result in a significant portion of trade volumes to become unreported/excluded, decreasing aggregate volumes, an important metric for those only beginning to discover our ecosystem. Furthermore, listing would also require some of the DAO's liquidity to be migrated to Deepwaters, which would again result in a decrease in aggregate numbers which could potentially negatively impact BST.
That being said, the governance board suggests our DAO to keep the extended listing option open for when Deepwaters becomes a listed exchange on Coinmarketcap/Coingecko, as the board believes the exchange's team and their market approach are excellent.
----------------------
The board may formally adopt a resolution or motion to establish the meeting schedule, which could include specific dates, times, and locations for each meeting. Alternatively, the board may simply agree on a general frequency, such as meeting once a month or twice a quarter.
Votes:
- Meeting frequency once per month?
5 - yes / 0 - no / 1 - not present - Extra meetings agreed when required?
5 - yes / 0 - no / 1 - not present
- Denis Petrovcic (founder seat)
- Viktor Brajak (founder seat)
- Simon Kruse (advisory seat)
- Achim Jedelsky (advisory seat)
- Sa Fo (community seat)
- Cryptovium (community seat)
- 1.Analyse and vote on Mexc exchange listing proposal
- 2.Analyse and vote on Gotbit service offer for market making
----------------------
After the initial due diligence conducted by the exchange to list BST passed, our board needs to analyse the exchange and vote on the listing.
Votes:
- Proceed with listing? 6
- yes / 0 - no / 0 - not present
Supporting arguments on the decision:
Upon reviewing the offer, the board agrees that the proposed cost structure is very favourable and the listing should be confirmed. Amongst all exchanges we have been in contact with, Mexc presents the one with the largest trading volumes and highest CMC and CG rankings.
----------------------
With a centralized exchange listing, there comes a requirement to employ market making services. We have been in contact with Gotbit for over a year, which came from two recommendations. It is important to note no market making service has yet been employed and only relied on organic traffic on Uniswap. With the launch on the CEX, Gotbit will maintain required volumes and arbitrage whenever required between the two exchanges, Mexc and Uniswap, however, volumes on Uniswap will remain organically driven.
Votes:
- Confirm Gotbit for market making? 6
- yes / 0 - no / 0 - not present
- Denis Petrovcic (founder seat)
- Viktor Brajak (founder seat)
- Simon Kruse (advisory seat)
- Achim Jedelsky (advisory seat)
- Sa Fo (community seat)
- Cryptovium (community seat)
- 1.Analyse and vote on Gotbit proposal to allocate funds for arbitrage
- 2.Make the Parking space project the first property available for community staking with Oceanpoint v0.4 launch
----------------------
Gotbit proposed to allocate some funds for arbitrage activities between Uniswap and Mexc. The required allocation from the DAO's treasury is 5.5 ETH + 40,000 BST.
Votes:
- Approve and start arbitrage activity? 6
- yes / 0 - no / 0 - not present - Re-allocate funds from ETH-BST liquidity pool for arbitrage? 6
- yes / 0 - no / 0 - not present
Supporting arguments on the decision:
Arbitrage is required to keep both markets in sync. Arbitrage opportunities are often executed by other players, but leaving it unattended might create times when arbitragers don't engage into execution, which can hurt organic trade volumes. Actively engaging in arbitrage opportunities creates better market conditions and more trustworthiness for traders to be active in BST markets.
----------------------
The Parking space project is the first property Blocksquare has ever tokenized and is the only property where the token contract is deployed outside of our mainnet tokenization system, thus making it incompatible with Oceanpoint.
Votes:
- Confirm parking space staking? 6
- yes / 0 - no / 0 - not present
Supporting arguments on the decision:
The Parking space project is the first property Blocksquare has ever tokenized and is the only property where the token contract is deployed outside of our mainnet tokenization system, thus making it incompatible with Oceanpoint. The board decided the migration process should be executed and the holders of the tokens invited as beta testers for Oceanpoint v0.4 as the first community members who will be able to stake BSPT tokens to earn BST.