Hey everyone, Cliff from the dYdX Foundation here.
Thinking of getting a ‘Delegate Huddle & Chatter’ series up and running, where delegates can share their thoughts on specific topics, or just simply hang and catch up with each other and the general community.
Endorsed delegates have been instrumental in the governance of the dYdX ecosystem (see the Delegation section under the Learnings from v3 governance post), and outside of expressing their thoughts via written format on the forums, Discord and voting on proposals, it’d be helpful to have the community get to know the delegates better through casual virtual sessions like that.
Some initial ideas on potential topics for each episode include:
The role of token holders, delegates, and validators in the governance of dYdX v4, and
DAO structuring and decision-making frameworks for the dYdX DAO
Obviously, this list of ideas is non-exhaustive, and we encourage delegates and community members to suggest topics for subsequent episodes. The Foundation is happy to host and moderate these sessions via Google Meet (video call), and will initially rotate between time zones to gauge participation rates. We’re opting for Google Meet just because Discord has a limit of 25 participants for video calls.
For the first episode, let’s gun for the 'General experience as an Endorsed Delegate’ as a topic, and community members can poll on topics for subsequent episodes. We’ll be hosting the first episode next Thursday (May 18, 2023) at 12:00 UTC, and will be creating an event in Discord that links out to the Google Meet invite link.
Let us know your thoughts on getting this series up and running! Do want to explicitly mention that this is an experiment to increase engagement between delegates and the larger community, and will be iterated on from turnout and feedback.
As dYdX progressively decentralizes, we are hopeful that governance will be further distributed and decentralized as a result of (1) more endorsed delegates being active, and (2) more $DYDX holders (not otherwise participating in governance) delegating.
We would be happy to join these meetings! It will be great for delegates to meet and get a better understanding of what everyone sees as the future of the protocol.
The proposed topics are quite interesting. We believe it’s especially important to have more discussions on how governance will work in V4 and what role delegates will play. Another possible topic could be how we can increase the delegate’s forum activity to ensure all proposals are thoroughly discussed before voting occurs.
Hey @fig , cadence wise, we’re looking to have these chats weekly. Here are some other aspects of this initiatives that we’re thinking about.
Metrics - we’re looking to track the quality of discussions (qualitative) and turnout. On turnout, ideally we get more than 5 delegates on the call for each session so there’s a good quorum for meaningful chatter and diversity of opinion. Will appreciate everyone’s support in joining these calls! 2.
Incentives to join calls - Thanks for agreeing to work on POAPs @Alucard.eth | -115.eth ! Will be looking to include merch, and potentially more meaningful rewards. Initial ideas include POAP holders entering a raffle to get hedgies, merch, or even event sponsorships (thinking of events like Nebular, Cosmoverse and Permissionless). Will hash out details and post them on the forum once it’s more fleshed out.
Logistics
Frequency: Looking to host this weekly via Google Meet or Discord! Again, looking to experiment with using video to increase engagement.
Topics: Will be doing polls on the forum for the community to vote on what topics should be discussed in subsequent calls.
Video Recording: Thinking about recording these sessions, and having snippets posted on youtube and CT.
Sounds great! Zoom is an equal option as well - but I’m a bit biased.
Love the idea of having “Snippets” vs. full recordings - when used correctly, they lead to powerful marketing assets which are more engaging and easily digestible.
We hope these Snippets instantly convey the maturity and talent within the dYdX community – attracting future forum participants too.
Hi guys,
I am looking forward to the first delegate huddle. I was thinking of meeting the day before on the trading floor or through a Discord call to structure and have some points to talk about during the delegate huddle.
I will leave the link here.
Another alternative is to prepare it here in the forum, but I don’t think it is a good idea in the long run.
Some topics that come to mind are:
Hey @clif
I Love the idea. I am a fellow cosmonaut and would love to share some perspectives on delegating. Do we have a new date for the second call already. Sadly wasn’t able to join the first one.
Just to introduce me:
I am Max 24 and currently working on my own german cosmos YouTube Channel.
My community is currently activ on Discord, YouTube and TikTok.
Here’s an update on the first session! Thanks to everyone who joined. Link to the recording here, and here’s a roundup of the discussion topics:
Introductions
Great to put a face and voice to names!
Transitioning Delegates to v4
@rspa and @fig from Flipside shared that they are working on a research report via grants on ways to transition delegates from v3 to v4 effectively. Some recommendations include:
Validators use AuthZ via a UI to delegate their voting and proposal powers to delegates.
Helping delegates run validators.
@Ax07 proposed looking at liquid staking providers (eg: Stride) to further distribute stake weight to a wider pool of validators to further progress decentralized decision-making.
@Immutablelawyer proposed looking at Distributed Validator Technology (DVT) platforms as a way to expand the validator set in a cost-efficient manner. New post on this topic here.
Research-based subDAO
@Immutablelawyer shared that he’s collaborating with a few community members on a Research focused subDAO.
Looking to research governance tooling in Cosmos land, decentralized governance in general, legal research on entities, etc.
Forum post dropping by the end of the month.
Reducing thresholds for on-chain vote creation
To empower community development, @0xCLR shared that proposal thresholds were too high, and proposes to reduce these to 0.1% (1M DYDX) for the short timelock executor and 0.5% (5M DYDX) for the long timelock executor. Additionally, he also proposes to reduce the long timelock quorum and minimum yes votes from 2% (20M DYDX) to 1% (10M DYDX). Starkware and merkle proposer thresholds as well as snapshot proposal thresholds stay the same.
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Again, thanks all for joining! Will be putting out another post shortly to organize the time, venue, and topics to be discussed for the second session.
Major apologies for the late follow-up on this! In hindsight, having these sessions on a weekly basis might be a tad too frequent, so let’s aim to do this bi-weekly.
Delegate Huddle Ep 2
Date & Time: Wednesday, 31st May, 2023, 12:00 - 13:00 GMT (08:00 - 09:00 ET)
I’ve also created a poll with a few discussion topics that we can run through during the session. Given that we only have an hour, we can aim to talk through the top 3 voted topics, so do cast your votes! Alternatively, feel free to suggest other topics as replies and indicate your vote with likes on that reply.
Follow-up on delegate transition to v4 governance
Delegate discovery initiatives to increase visibility on smaller delegates
Initiatives to on-ramp validators on dYdX governance, ecosystem, and dynamics
Delegate compensation exploration
The need for a dYdX Protocol Constitution?
0voters
A discord event has also been created for this! Looking forward to chatting again fam.
