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 β€” 23. 3. 2023

Attendance:

Agenda:

  1. Analyse and vote on Deepwaters exchange listing proposal

  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 β€” 14. 4. 2023

Attendance:

Agenda:

  1. Analyse and vote on Mexc exchange listing proposal

  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 β€” 4. 5. 2023

Attendance:

Agenda:

  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

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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 β€” 22.06. 2023

Attendance:

Agenda:

  1. Marketplace Pools for Oceanpoint / Denis

  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 β€” 24.08. 2023

Attendance:

Agenda:

  1. Update / Denis

  2. Regional Hubs / Denis

  3. LBBW Future of Finance Bootcamp / Denis

  4. Tokelytics / Denis

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  1. Update / Denis

He reports on the tokenization/notarization progress at Blocksquare. They signed up a PR firm to promote this news.

  1. 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. 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. 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.

Governance board meeting #7 β€”26.10. 2023

Attendance:

Agenda:

  1. Attendance of GovBoard Members / Denis

  2. New GovBoard Members / Denis

  3. xxx / Denis

  4. xx / Denis

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  1. Attendance of GovBoard Members / Denis

Not all GovBoard members are attending, some are missing everytime. What should we do about it?

Simon: Ask them to join, if they are not remove them from the board

SaFo: it should be not so difficult to join, as ist not so often and short

Denis: Propose them these changes:

  1. Join the meeting

  2. Find another slot or day

  3. They could step down (permanetly or temporary)

  1. New GovBoard Members / Denis

Should we add new board members?

SaFo: Look for most active community members

Simon: he is fine with adding new members

Achim: first solve the problem from 1) before we are adding new members.

Simon: provide incentive, instead of punishment for board members

Denis: offer incentive to meet in Dubai once a year, if you take part in the board.

-> Start measuring attandence of board members and act on non-attending.

  1. Roles for Governance board / Denis

Denis: GovBoard should in future vote on proposals made by tokenholders. Right now the goal is to grow the token.

Simon: we dont need roles right now. Decide on case by case.

Denis: maybe rather tasks than roles. Like:

  • Communicate the output of board meetings to the community - pass information to Julia. (Andy)

  • Contact to market makers. (Simon/Denis)

  • Fund management. (Denis)

  • Meeting minutes (Achim)

  • Agenda for next call

Achim: use this as task list for future board member so that they know what they could (should) do.

Governance board meeting #8 β€”23.11. 2023

Attendance:

Agenda:

  1. Update / Denis

  2. Tokenization / Denis

  3. Central Exchange Listing / Denis

  4. LBBW / Denis

  5. Long Term Plans / Simon

  6. Expansion Governance Board / Denis

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  1. Update / Denis

Regional Hubs have officially launced. Was successful, some applications are already in.

Three hubs should be set up soon. Cooperation with FIBREE to do another Tokenization Challenge in 2024. Topic: Challenge to organize a local meetup about Tokenization. Top three events will be picked. Blocksquare would be present at each meetup as a speaker. The board approves of this initative.

  1. Tokenization / Denis

For a project in Austria the question about insovlency risk of involed companies has been raised. A company 'limited by guarantee' could be a soltuion. This would be locatd in the UK.

Simon: Could a trust be also a solution? Denis: There is a problem for a trust to act as a BSPT lender. Simon: The Netherlands have a good trust structure in place that might be an alternative. Denis: once we explored the options of the first option we can look into the trust possibility.

  1. Central Exchange Listing / Denis

Godbit suggests it is good timing to be listed on further, larger centralized exchanges. ByBit, is currently being reviewed for that.

  1. LBBW / Denis

Blocksquare became second in the competition. LBBW want to connect us with thier real estate department for further collaboration.

  1. Long Term Plans / Simon

Simon: Expansing to Asia markets? Philipines, Vietnam? Denis: Currently - no specific goal, but we are open for interesting connections.

Achim: maybe the regional hubs can be the first step for an expansion.

Denis: Yes, that is the plan. Identify active regions and give the a proven concept about how to start tokenizing real estate.

-> Simon will reach out to his contacts in Asia to see how the interest there is.

  1. Expansion Governance Board / Denis

One community member (musclepump) was approached by Sa Fo and he would love to join the board. Denis: there is also an interview for the core team set up with him - so wait for the interview.

Governance board meeting #9 β€” 25.01.2024

Attendance:

Agenda:

  1. Bitmart launch

BST price is stable.

  1. New team member Ari Last, he will work on contacts with Central Exchanges. He works on basis of token + success fee. He already made some new connections to CEX. Goal is to list at one tier 1 exchange.

  2. Finacials 100K BST are targeted for liquidation. Only when price is >0.30$ 900K ETH 100K obligations --> healthy financials, low burnrate, compensation mostly on BST

  3. Regional Hubs Cody (musclepume) Regional Hub manager. Onboarded 19 regional ambassadors. Issue: no limitation on hubs per region. There already 3 hubs in Nigeria. We have to prohibit that people misuse the concept to gain the BST reward - e g by paying people to join regional events and cashing in on the reward. Cody will popose a soltuion proposal for this problem.

  4. Bug bounty programs https://immunefi.com/ is used for bug bounty programms and might be of interest for Blockcsquare.

Governance board meeting #10 β€” 22.02.2024

Attendance:

  1. Simon updates the board on onboarding new exchanges. He is in contact with the CEO of the Dubai Blockchain Center. He will follow up with Makram. Could be a good contact for Blocksquare, maybe an advisor.

  2. Sasha: Liquidity Pool lock up is coming to an end (after one year) - will there be some big sales coming up…? Who can check that? Simon will check that.

Governance board meeting #11 β€” 28.03.24

Attendance:

  1. KOL Marketing Strategy Discussion (KOL = Key Opinion Leaders) Propbase did this. Good example. Onboarded 120 KOLs and are now harvesting the benefits through high twitter comments etc. Benefits: 1. more exposure 2. raise dollars, even if we give discounts KOL with 40 - 100K followers. Downsite: potential dump after the lock period Simon: currently not really needed as KOLs are talking about BST. Andy: cryptohub is e g a good example of a valuable KOL that still could help us. Simon: what benefit would we get through an allocation - other than we have already now? Andy: it guarantees us a position in the right spot Denis: Some people might get it wrong that we offer a discounted price to people who are actually late to the party… BUT we could have an edge how to do it. E g we could use Propbase for giving us hints what KOLs did help them. This could be labeled as a cooperation between BS and Propbase. We could allocate a fixed amount BST to a group of chosen KOLs and they can choose to participate. Simon: we have a benefit over other projects: a healthy chart, that is not hype-based. Maybe rather invite other RWA projects for cooperations. Denis: Establish BST as a longterm token where investors go to when exitign other hyped RWA projects. Andy: chose between organic growth and acelerated growth. Sascha: our chart is much better than the ones of other projects. Others have no liquidity and are prone to sales of whales. Denis: no vote today. Lets explore further and find a way to grow without risking the trust of the community. Our view should also be on the time after the bull run.

  2. Uniswap BST-ETH liquidity pool this liquidity positions is currently UNLOCKED and accounts for approx 100 ETH + 500,000 BST Andy: Locking is probably a good thing. Simon: How much would APY go down if we stake all? Sasha: probably a lot People will take out a lot because of the bull run. Sasha: we could lock liquidty via Uniswap. He will look into this and let us know. Denis: if we use the same mechanism we would eat up a lot of the reward for the community. We could move the liquidity pool to the governance board. This gives more certainty to the community. To lock it right now in our system would be not a good idea.

  3. Market place Pools People from the community can fill the pool with 100.000 BST, they add collateral to guarantee that they tokenize real esate during a certain period. If the dont manage to do that the collateral will be burned (10.000 BST) max 99.000 BST --> drop minimum to 100 or 1.000 BST to encourage smaller marketplaces to start. 3600 BST - 1000 sBST Simon: move to 500 BST

  4. Burning BST 60.000 BST are on the governance board wallet. The community asked for burning it.

Governance board meeting #12 β€” 25.04.24

Attendance:

Agenda:

  1. Andy: APY of Governance Pool APY is reducing for the governance pool. This might have negative effect on the acceptance of it. Should we do something to prevent this from hepeeneing? https://docs.google.com/spreadsheets/d/1dkKlwLQ77k8wVnZNg-hcZH7gZtVQGr4DDkBPMQrfr-c/edit#gid=1729319839

    Currenty 5.67% for Governance Pool Denis: Our goal create many market place pools.

    Define KPIs for the operator of the marketplace in order to test if they deliver what they are promising to the community

    Andy: currently you can earn quite a bit on the liquidity pool. Would be good to be able to shift some of this to the Governance Pool. Simon: maybe reevalute this once a month?

    Denis: Announce it to the community before, or even offer it to vote to the community. This would strengthen the decentralized governance. Or, we adjust it (vote for it)

    Simon: we should offer a discussion space to give space for the community. He knows a white lable solution that could do that:

    https://www.discourse.org/

    Example: https://forum.paribus.io/

    If we want to have an open vote we need a forum to facilitate the vote: all are in favor for it.

    Who is moderating the forum? Viktor and Denis are setting it up an account with Discourse. Sascha and Andy will propose how we will manage it in future. First proposal will be done in 3 weeks (next governance board)

Governance board meeting #13 β€” 23.05.2024

Attendance:

Agenda:

  1. xxx / Denis

  2. xxx / Denis

  3. xxx / Denis

  4. xx / Denis

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  1. xxx / Denis

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  1. xxx / Denis

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  1. xxx / Denis

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  1. xxx / Denis

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Governance board meeting #14 β€”

Attendance:

Agenda:

  1. xxx / Denis

  2. xxx / Denis

  3. xxx / Denis

  4. xx / Denis

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  1. xxx / Denis

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  1. xxx / Denis

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  1. xxx / Denis

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  1. xxx / Denis

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Governance board meeting #15 β€”

Attendance:

Agenda:

  1. xxx / Denis

  2. xxx / Denis

  3. xxx / Denis

  4. xx / Denis

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  1. xxx / Denis

xxx

  1. xxx / Denis

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  1. xxx / Denis

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  1. xxx / Denis

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