Jump to content
  • Sky
  • Blueberry
  • Slate
  • Blackcurrant
  • Watermelon
  • Strawberry
  • Orange
  • Banana
  • Apple
  • Emerald
  • Chocolate
  • Charcoal

Welcome to your community. We would like you to take a minute and read our newcomers guide.

Sign in to follow this  
tradeandholder

Governance roadmap & timeline

Recommended Posts

Since the release of the Governance white paper, consistent progress has been made by the 0x core team in building their infrastructure to aid exchange of digital assets. Aragon’s talented team has been building the aragonOS which provides smart contract building blocks which can be assembled to create upgradeable and complex DAOs.

 

As Aragon is focused on providing the building blocks needed for governance, the community as a whole are yet to produce the needed tools for analyzing complex cryptoeconomic systems and modeling.

 

The transition of 0x protocol to community governance will take place in phases that overtime shifts control to token holders. As each phase progress, there is a higher complexity and risk.
 

Phase I: Community Managed Token Registry
The 0x white paper has proposed a Token Registry contract that stores ERC20 token metadata such as name, symbol, decimals, address) that functions as a canonical on-chain reference used by market participants for verifying exchange rates as well as token addresses before going into a trade. The registry’s information source can be trusted and so when adding information to the registry, an oversight is needed. Staying consistent with 0x’s white paper will see the Token Registry Contract transited to the community managed token curated registry (TCR), during the first phase of its governance roadmap.


With sufficient vetting, dApps will easily rely on the Token Registry to protect users from interacting with malicious tokens. This transition is set to happen by the second half of 2018. They are presently working with Aragon Labs, led by Luke Duncan to make this successful.
 

Phase II: Community Veto Power
While shifting governance over to the 0x pipeline to token holders, launching a token voting scheme not properly vetted would not be responsible. Instead their step towards achieving this goal should be aim to launch a system that gives room for upgrading proposals to be presented by the 0x team and vetoed by holders of ZRX token.


This could work in few ways. At the high level, the 0x team joins hands with the community to build a social consensus offchain perhaps utilizing tools that functions like the Carbon Vote to measure sentiment. Contracts that look to have social consensus will be assigned to the blockchain, and then the creation of a proposal to add the new contract to the 0x pipeline. At this stage, ZRX holders will have a time frame which they may veto the proposal on-chain. This is known as the low stakes, intermediate step that shifts influence to the community.
 

Phase III: Liquid Democracy
Liquid democracy is a voting scheme as a potential governance system for the 3rd phase of the governance roadmap. Liquid democracy has some interesting features, making it more attractive to governance than the 0x roadmap.


Leaders like Charlie Lee (founder of Litecoin) and Vitalik Buterin (founder of Ethereum) have coordinated communities at large to embrace innovation in ways that would seem challenging for a community without an implied or explicit leader.


A common argument here is that coordination costs due to a decentralized governance could hinder innovation. A nice feature of the delegative voting is that these schemes gives community the go ahead to assign voting power to the core dev team, but voting power can disperse naturally due to its extremely fluid nature as incentives delineates or as project develops.

  • Like 3

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×