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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.

Governance board multi-sig wallet address:

0xfb531d5602fC0953be047605c77a7d289729ea8a

Board meetings:

Governance board meeting #1 — 23. 3. 2023

Attendance:

  • 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)

Agenda:

  1. 1.
    Analyse and vote on Deepwaters exchange listing proposal
  2. 2.
    Agree on a general frequency for governance board meetings
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1. Analyse and vote on Deepwaters exchange listing proposal

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.
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2. Agree on a general frequency for governance board meetings

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
Governance board meeting #2 — 14. 4. 2023

Attendance:

  • Denis Petrovcic (founder seat)
  • Viktor Brajak (founder seat)
  • Simon Kruse (advisory seat)
  • Achim Jedelsky (advisory seat)
  • Sa Fo (community seat)
  • Cryptovium (community seat)

Agenda:

  1. 1.
    Analyse and vote on Mexc exchange listing proposal
  2. 2.
    Analyse and vote on Gotbit service offer for market making
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1. Analyse and vote on Mexc exchange listing proposal

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.
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2. Analyse and vote on Gotbit service offer for market making

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
Governance board meeting #3 — 4. 5. 2023

Attendance:

  • Denis Petrovcic (founder seat)
  • Viktor Brajak (founder seat)
  • Simon Kruse (advisory seat)
  • Achim Jedelsky (advisory seat)
  • Sa Fo (community seat)
  • Cryptovium (community seat)

Agenda:

  1. 1.
    Analyse and vote on Gotbit proposal to allocate funds for arbitrage
  2. 2.
    Make the Parking space project the first property available for community staking with Oceanpoint v0.4 launch
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1. Analyse and vote on Gotbit proposal to allocate funds for arbitrage

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.
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2. Make the Parking space project the first property available for community staking with Oceanpoint v0.4 launch

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.
Governance board meeting #4 — 22.06. 2023

Attendance:

  • Denis Petrovcic (founder seat)
  • Viktor Brajak (founder seat)
  • Simon Kruse (advisory seat)
  • Achim Jedelsky (advisory seat)
  • Sa Fo (community seat)
  • Cryptovium (community seat)

Agenda:

  1. 1.

    Marketplace Pools for Oceanpoint / Denis

  2. 2.
    Coinstore Proposal / Denis
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1. Marketplace Pools for Oceanpoint / Denis

Situation of oceanpoint:
Marketplace pools offer potential to raise funds to gain partner status.
People can pitch their concept of a marketplace to the community in order to gain enough funds to create it. The own invest is a minimum of 10.000 sBST.
They have then 6 month to launch the partnership, the investors have 12 month lock in.
Goal: create more utility in BST, decentralize ownershiop of marketplaces, This might get more important once the price for BST is increasing.
Votes:
  • Approve? 5 - yes / 0 - no / 1 - not present

2. Coinstore proposal/ Denis

We received a proposal from Coinstore. Simon: ask Godbit (our marketmaker) if they think it's worth joining Coinstore. Coinstore only ask for 2000 BST.
Denis will ask Godbit.
​
Governance board meeting #5 — 24.08. 2023

Attendance:

  • Denis Petrovcic (founder seat)
  • Viktor Brajak (founder seat)
  • Simon Kruse (advisory seat)
  • Achim Jedelsky (advisory seat)
  • Sa Fo (community seat)
  • Cryptovium (community seat)

Agenda:

  1. 1.

    Update / Denis

  2. 2.
    Regional Hubs / Denis
  3. 3.
    LBBW Future of Finance Bootcamp / Denis
  4. 4.
    Tokelytics / Denis
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  1. 1.

    Update / Denis

He reports on the tokenization/notarization progress at Blocksquare. They signed up a PR firm to promote this news.
  1. 2.
    Regional Hubs (Denis)
Six month ago they onboarded a team member who works for a high-net-worth person and remains unknown. They developed a regional hub system for blocksquare. These hub should develop the regional activities. 5 regional ambasadors can create one hub and elect one chair. A BST reward pool should incentify regional activities. Goal is to have 20.0000 BST per regional hub.
  1. 3.
    LBBW Future of Finance Bootcamp / Denis
Blocksquare got a place in the LBBW competition for future of finance bootcamp. It is organized together with DEKA and will start in November 2023.
  1. 4.
    Tokelytics / Denis
For Blocksquare they develope an audit report for smart contracts - it's called Tokelytics. In order to use it for a wider range of products it should also be offered to other real estate tokenization companies, so they can use it for their clients. Therefore we are looking for partners who are interested in this. The board is asked to make contact to potential new partners. The first step is to get them on a call and to discuss the benefits of tokelytics.