Transition to the dHEDGE Ecosystem DAO (EcoDAO)
Since the launch of mainnet on October 26, 2020, the dHEDGE ecosystem has continued to grow from strength to strength. With over $280m volume traded and 26m total value locked, it is safe to say that the community has successfully built a non-custodial platform that has enabled investors to invest and trade like the best managers in the industry, without losing custody of their assets.
With that said, the primary purpose of building dHEDGE since its inception was to create an unstoppable protocol that democratises investing and tears down the barriers for investors and managers alike. In order to achieve this, further steps toward decentralization must become a paramount focus to enable the protocol to become truly antifragile.
With this in mind, several community members have signalled their interest in transitioning dHEDGE into Phase 1 of the EcoDAO in an effort to remove central points of control and further decentralize the protocol. Our team is proactive in decentralisation movements and we are open to decentralise dHedge governance and put the decision making into the hands of community members.
This proposal will ultimately outline what the initial steps for the transition will be, and why they will benefit the protocol and the ecosystem.
The dHEDGE EcoDAO
In an effort to decentralize governance, we are proposing to move decision making functions away from the core team and into the hands of the community. This will be achieved by electing a council of 5-10 community members that have emerged organically from the community and have demonstrated a shared vision and eagerness to grow the dHEDGE ecosystem.
We propose that this structure will strike a balance between sufficiently decentralized governance, while not being too decentralized as to compromise the speed and efficacy of the development and decision making relating to dHEDGE.
These elected committee members will ultimately be key holders who serves as the dHEDGE EcoDAO governance body with defined responsibilities, which include:
Reviewing and stirring growth and community initiatives related proposals that emerge from the ecosystem, and where relevant submitting proposals to the dHEDGE DAO and represent the growth and marketing efforts of dHEDGE protocol in dHEDGE DAO. All proposals will be viewable and open for discussion at https://forum.dhedge.org/, which will ensure budget management is transparent and held to high scrutiny.
Members of the dHEDGE EcoDAO will serve to run the monthly reward distributions to contributors of sums below USDC 5k (or equivalent in DHT)
It is pertinent to also note that the committee will be open for nomination continuously and changes to appointment will be approved / rejected by the council on a monthly basis.
The Inaugural dHEDGE Council
The proposed initial dHEDGE council members were formed by a selection of key contributors and members of the dHEDGE Ecosystem. They are as follows:
- Daniel Bar twitter.com/danieltbar | Founder at Bitfwd 比特未来 - 区块链创投
- Michael Elisha @michaelelisha_ | Head of Growth at Independent Reserve
- Ruby Wu (@rubyoneinch) | Founding Partner of Incuba Alpha
- Sergei Chan @sereja_chan | Analyst & Investor, Early contributor at dHEDGE
- Ye @itsahedge | Developer & Core Contributor at dHEDGE
- Anett Rolikova @AnettRolikova | Ecosystem Ops at Bitfwd 比特未来 - 区块链创投
- Convex Monster @ConvexMonster | Early Pool Manager at dHEDGE
We are submitting a proposal to request funding from dHEDGE DAO to kick off the dHEDGE EcoDAO with the following schedules.
|Total budget of USDC 70k + DHT 50k + 10 ETH to cover gas||Initial budget to cover at least 4-6 months of operation|
|dHEDGE DAO Ecosystem address||Multisig for the dHEDGE EcoDAO
|dHEDGE EcoDAO KPIs responsibilities||KPI:
first milestone $100m TVL + $1B trading volume
Second milestone $500m TVL + $5B trading volume
Monthly public call and report: dHEDGE EcoDAO will hold monthly open call for developers, contributors, managers and
independent hedgehogs to connect
Growth and marketing activities: dHEDGE EcoDAO will stir and get involved in the growth and marketing initiative proactively
|dHEDGE Ecosystem Council operation and governance reward||a monthly reward of 666 DHT will be paid by the dHEDGE EcoDAO, inactive members will be voted out, new nominations will be reviewed monthly. The council member count will include no less than 5 and not more than 10 members thus ensuring its small enough to be agile yet big enough to include representation from across the ecosystem.