Developers Forum for XinFin XDC Network

Discussion on: DaoFin Draft: Decentralizing XDC’s Ecosystem Development

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I thoroughly enjoyed this proposal, and appreciate the intent behind decentralizing and democratizing the XDC Network. I have a few concerns and ideas, all of which might be unjustified or easily solvable.

To start, there has been a heavy focus on the Judiciary Committee, which acts as the checkpoint for any voting proposal to gain exposure within the ecosystem. My thought would be to expand on the requirements for someone to become a member of the Judiciary Committee. Since voting proposals brought to the XDC Network will vary in scale and specificities, I imagine it will be important for each member to have a skill set that can be applied uniquely to each proposal.

In order to avoid proposals being held up or rejected at any stage, there can be an advisory panel that assists projects who have a proposal they want to submit to the XDC Network. This panel could operate in tandem with the Judiciary Committee to ensure full compliance. In that regard, a guideline or documentation page for anyone looking to make a proposal would be beneficial as a time and cost-saving tool.

The subject of network operational costs is also a concern, as such expenses are required to maintain proper function. In response, there could be a recurring vote that gets voted on quarterly which covers operational expenses. The details of the vote would also have to be adjusted as changes within the network occur.

Lastly, according to the proposal, voting requires a minimum number of XDC tokens to be staked and locked for a period of time. This method works for those with a sufficient amount of XDC, but ultimately disenfranchises those that lack the funds. To work towards decentralization and not away from it, there could be a mechanism that lowers the staking requirements based on the total value locked in the governance pool. This can simultaneously incentivize greater network participation and lower the barrier of entry.

The DaoFin proposal is a massive step towards realizing the expectations many people have for blockchain and decentralization. In order to successfully implement DaoFin, constant participation, education, and questions are prerequisites. Through those actions I expect DaoFin to evolve and become an example of achieving decentralization.