Proposal “DIF-FUNDING-PROPOSAL-APR-JUN-3MONTHS“ (Closed)Back
|Title:||PLEASE VOTE DOWN. SEE REVISED PROPOSALS|
|Monthly amount:||500 DASH (76259 USD)|
|Completed payments:||no payments occurred yet (3 month remaining)|
|Payment start/end:||2020-04-15 / 2020-07-13 (added on 2020-04-13)|
|Final voting deadline:||in passed|
|Votes:||640 Yes / 546 No / 12 Abstain|
Monthly ask will be 500 Dash for the next 3 months.
In line with all previous proposals we are looking for continued funding of 500D per month.
What Does This Proposal Fund?
The 500 Dash are for only two purposes: 1) reserves and 2) fund management/admin/legal expenses.
Reserves represent up to 95% of this allocation, with the remaining funds for management, administration, and legal. Thanks largely to Demelza Hays offering the DIF a deeply discounted rate for consultancy services, we can keep ongoing costs to a minimum.
How Much Does the DIF Currently Have in Reserve?
What is the DIF’s Strategy Now That it Has an Investment Consultant?
Please see Demelza’s presentation in the DIF’s Q42019 quarterly report call here. You’ll also hear a refinement of how the DIF measures success, how we’ll report on assets going forward, a review of our contact information, etc.
When does the DIF hold its next Quarterly Report call?
April 20th 2020 at 4:45pm UTC. This will be broadcast live and there's a stickied post on top of r/dashpay to submit questions for the Q&A section of the call.
IMPORTANT: Material change request
After much internal discussion between the DIF supervisors we believe it’s in the DIF and the Dash network’s best interests to request a change to the current agreement that we submit decision proposals to the MNOs for approval on any investments, the requested change is to remove this requirement going forwards. In exchange for the proposed increase in autonomy, we propose an increased transparency of decision-making down to the individual level. In this way, the MN network can have further insight into each individual supervisor's thought processes, contributions and performance.
By voting Yes or No to this proposal you will also be voting on whether you agree to this change or not.
Reasons for requesting this change:
- The practicalities of asking the network for approval are far more challenging than initially expected.
- Providing enough information and data for MNOs to make such decisions has proven impossible due to legal issues, NDAs and other commercial factors.
- We have access to all the information required to assess opportunities, as well as the ability to conduct discussions with the management teams where we can assess their professionalism and calibre. Therefore we believe that we are in the best position to make such decisions, whereas currently the network is being asked to make these important decisions when they do not have anywhere near the level of data and access needed to make an informed decision.
- Our fear is that getting 10% net votes might be impossible on any given investment because each investment will not align with the risk tolerance or myriad of other factors valued by varying minorities of MNOs. This could result in stalemate/stagnation where we end up with a situation where we cannot agree to invest in anything.
- Upon reflection, we think that submitting proposals for every decision will not scale well in the future.
- After private feedback from a number of MNOs we believe that the majority of MNOs may prefer to completely delegate this process to the DIF and judge us on our results.
- We already have the mechanisms in place to elect another team if the current supervisors perform their roles poorly. The elections are held annually and MNOs can change some or all of the current team if results are not to the MNOs satisfaction.
How will the DIF ensure transparency and accountability after this requested change?
The DIF will operate as transparently as possible via open source repositories on GitHub. We aim to follow an open source ethos of collaboration with a verifiable history of decision making.
We will use GitHub as a platform to handle as much of the DIFs functions as possible and we will "open source" as much information as we can, with the understanding that there will always be some information that needs to stay private for security, legal or commercial reasons. Elements we will make public include the guidance documents for potential investment candidates, investment criteria, what we're looking for, the DIF Manual, policy documents, proposals, executive summaries of investment opportunities etc.
In addition to the documents we intend to make public, each supervisor and contributor will have their own verifiable ID. All work carried out, decisions and votes by these supervisors will be on GitHub so that there is a complete audit trail and transparency both internally, and externally for everything we do.
This will ensure that both the DIF and it’s individual supervisors are accountable for their decisions and actions, it will also ensure better continuity of governance when future changes are made to the supervisor board.
Most importantly, this gives MNOs the ability to assess each supervisor’s performance individually, as well as the DIF’s performance as a whole.
We hope to answer any questions you may still have below.
Thank you for your servicing Dash’s governance needs.
Show full description ...
Discussion: Should we fund this proposal?
|No comments so far?
Be the first to start the discussion!