DAO Governance: Conflux DAO Ecological Governance Vote (20210408)

In order to better realize the "on-chain + off-chain" DAO governance model, so that every community member can fairly participate in the network ecological construction, the Conflux network will be held at 16:00 on April 8, 2021 (GMT+ 8) Start a new round of Conflux DAO ecological governance voting.

The governance voting direction of this issue includes: the use of ecological funds, whether it is necessary to increase the memory requirements of mining equipment, the adjustment of unlocking conditions for private equity investors, and the way to initiate Conflux DAO ecological governance voting in the future.

Vote Details:

Conflux DAO# 4 Second Ecological Fund Use Voting

Forum link: forum.conflux.fun/t/conflux-dao-4/6490

BendDAO's proposal to adjust the liquidation threshold and other parameters to alleviate the liquidity crisis was approved: On August 23, the new proposal BIP#9 initiated by the NFT liquidity protocol BendDAO proposed to adjust the liquidation threshold, auction cycle, interest rate and other parameters A proposal to address the liquidity crisis has now been passed.

These include: adjusting the liquidation threshold to 70% in stages, adjusting the auction cycle from 48 hours to 4 hours, adjusting the ETH benchmark interest rate to 20%, and the BendDAO community can vote on how to deal with bad debts when bad debts occur. [2022/8/23 12:43:53]

The first vote on the use of the Ecological Fund ended on December 11, 2020. For voting details, see: forum.conflux.fun/t/topic/4303

This vote is the second vote on the use of ecological funds

Conflux network Tethys genesis block ecological fund part (2 billion CFX), unlocking 41.67 million CFX every month. It is now used to store mortgages and subsidize gas fee payment, and support the contract ecology on the Conflux chain. Whether the ecological fund will be used for other purposes within half a year to one year after the Tethys network is online will be determined by the results of this voting. One year after the launch of the Tethys network, a new round of voting will be launched to re-discuss the flow and use of subsequent ecological funds.

Jay Chou has received BAYC#3738 from BendDAO.eth through Machi: On April 30th, Jay Chou has received BAYC#3738 from BendDAO.eth through Machi, and BendDAO is ready to help users claim Yuga in the background Labs Otherdeeds Land Airdrop. It is reported that BendDAO will help more than 160 BAYCs and more than 220 MAYCs in the agreement to obtain Otherdeeds in the first time. [2022/4/30 2:41:58]

Does Conflux DAO# 5 need to increase the memory requirements of mining equipment?

Forum link: forum.conflux.fun/t/conflux-dao-5/6491

At present, Conflux’s mining memory requirements increase by 16 M every 500,000 (2^19) Epochs (increase linearly with time, about 1 ~ 1.5 G per year). Will the next Hardfork need to increase the memory requirements of mining equipment at one time to exclude mining GPUs below 6 GB (such as P106), to prevent Ethereum mines from having too many advantages over individual miners, and to protect the rights and interests of individual miners.

SHIB officially launched DOGGY DAO on ShibaSwap: On February 19th, according to official news, SHIB announced that it has officially launched DOGGY DAO on ShibaSwap, which is currently the first phase of DAO 1 (Beta), giving the community voting rights.

In previous news, SHIB announced that it will launch DOGGY DAO in stages, and the first stage of DAO 1 (Beta) focuses on providing direct power to the community. [2022/2/19 10:02:24]

For details about CIP, see: github.com/fanlong/CIPs/blob/finalize-pow/CIPs/cip-3.md

Conflux DAO# 6 Adjustment of Unlocking Conditions for Private Equity Investors

Forum link: forum.conflux.fun/t/conflux-dao-6/6492

Whether the Future Foundation should agree to the investor's request for early unlocking.

Lido DAO Passed and Voted to Upgrade Lido's ETH Withdrawal Voucher: It's official, Lido DAO has passed and voted to upgrade Lido's ETH withdrawal voucher. It is reported that the withdrawal certificate is upgraded to an upgradable smart contract to eliminate the risk of collusion between the main signatories of the withdrawal. [2021/7/15 0:54:55]

(Due to the particularity of this proposal, this proposal will only support CFX voting, and the team lockup address announced by the foundation will not participate in this voting. During the voting period, the Conflux team will reject all early unlock requests until Voting results are out.)

Conflux DAO# 7 Ways to Initiate Conflux DAO Ecological Governance Voting in the Future

Forum link: forum.conflux.fun/t/conflux-dao-7/6493

In order to improve the Conflux DAO ecological governance system, this vote will determine the conditions for the Conflux DAO ecological governance voting plan initiated by the community in the future.

Conflux DAO Ecological Governance Description

In this new voting, all FC and CFX holders can participate in the second voting on the use of ecological funds, whether to increase the memory requirements of mining equipment, and the way to initiate Conflux DAO ecological governance voting in the future. Due to the particularity of the unlocking condition adjustment proposal of private equity investors, this proposal will only support CFX voting, and the team lockup address that the foundation has announced will not participate in this voting.

FC holder voting page: stampers.app/#/FansCoinCFX holder voting page: governance.confluxnetwork.org

This voting will end when the Conflux network Tethys Block Number reaches 30210303 (estimated time at 16:00 on April 15, 2021).

The funds used to develop the ecology will eventually be converted to be governed by DAO, and FC and CFX holders can vote through different channels to exercise governance authority.

CFX holders need to lock CFX to obtain voting rights.

CFX voting rights = lock-up period (quarter) × number of CFX × 0.25 votes/quarter

Under this model: If CFX is locked for less than 1 quarter: no voting rights If CFX is locked for more than 1 quarter: 0.25 votes per token If CFX is locked for more than 2 quarters: 0.5 votes per token If CFX is locked for more than 4 quarters: 1 vote per token

When users choose to lock CFX to obtain voting rights, they will also receive interest income in proportion to Staking (for details, refer to Conflux Advanced Course丨Economic Model Interpretation (8): Ecological Incentives and Ecological Governance).

*During the lock-up period of the pass, the user cannot withdraw the pass or shorten the lock-up period.

Conflux CFX governance voting tutorial: juejin.cn/post/6901123630353088526

FC holders also have governance voting rights in the three votes of this ecological fund usage vote, whether to increase the memory requirements of mining equipment, and the method of launching Conflux DAO ecological governance votes in the future.

The voting rights of 1 FC are equivalent to 1 CFX locked for 6 months = 0.5 voting rights

How to calculate the final number of votes for an option

The final voting rights of an option = CFX voting rights of this option + FC voting rights of this option

END

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