Christopher.conforti.eth

Note: Please read this post for complete information about delegation and how it works in Bancor.

Fellow Bancorians,
I recently discovered on our Snapshot that there is a ‘Delegate’ option. I would like to submit my candidacy for delegation. I will make my case, as well as inform the potential delegator as to why it’s a good idea to delegate rather than voting themselves or simply abstaining from voting.

Why should I delegate?

Delegation forms a more liquid form of a representative republic type of governance system–that is, when you delegate your vote, you’re effectively electing a representative in a governance body for the term of your delegation, which ends whenever you choose to revoke it. Electing a representative this way has many advantages:

  • It encourages diversity of choice; it’s fairly easy to become a delegate/representative in this system, therefore it follows that more people will do it, ensuring that the holder has a great selection.
  • It reduces overhead on the holder; it doesn’t matter how fast or slow the governance cycle is, how many votes there are or what they look like, it’s your delegate’s job to worry about it and you can rest easy assured that your values are being represented to your satisfaction.
  • It increases the likelihood of a vote reaching quorum; by concentrating voting weight in the hands of delegates who are dedicated voters, more voting power is utilized, increasing governance efficiency without locking people out or reducing the governance token supply. (Notably, if ‘voter rot’ were implemented, it would serve to incentivize delegates to vote since they would lose their delegations and would have to start more or less from scratch if they ‘rotted’.)
  • It doesn’t lock you in; you can redelegate/revoke your delegation at any time, meaning that if you catch wind of your delegate playing dirty, you can act immediately instead of waiting for the next election cycle.
  • It’s like a Build-A-Whale; delegates are much like whales in that they hold massive voting power, but the key difference is that delegates are always beholden to you, and they always have incentive to speak on your behalf. The more people back a delegate, the bigger the ‘whale’ they are.

Why should I delegate to you?

I hold the good of the protocol above all else in my decision making–that which relates to Bancor, of course–because I firmly believe that by governing the protocol well, prosperity will be brought about for all; traders and LPs alike. I believe that by lifting each other up before ourselves we can lift everyone, and that by building off of each other–for example, integrating other protocols for functionalities we want instead of building them in-house, but making sure our DAO itself holds a stake in the governance of those protocols we build on–we can all become more than the sum of our parts; I think that I’ve demonstrated this through my arguments elsewhere on this forum.

I also believe in Free Software (as defined by the Free Software Foundation) and open standards/technologies, and try to use them as much as possible. I have, and will continue to urge the DAO to use more open technologies and self-hosted services for our off-chain operations, as I believe that to be best for our long-term health; a server that we control running a service that we need (e.g., I (or a task group) can build us a Mumble server, or we can always build our own IRC network) will, at the end of the day, nearly always be more robust than simply engaging someone else’s (off-chain) services.

As your representative, I will make it my duty to make the weight of my vote count for the good of the DAO and the protocol. If you value those same things that I do, adding your weight to my vote will show solid support for those values, and I will ensure you are represented. With your voting weight and my dedication to voting, together we will build the free market of tomorrow.

You can rest assured that I will act in good faith and sound judgement; it makes little difference to me what weight my vote carries, nor the size of the check I’m offered as far as which way I vote. My decision must come from my philosophy, which doesn’t count the weight of something as primitive and random as my voting weight at a given time. Voting on behalf of others, at any scale, I try my best to make honest and carefully calculated decisions–“measure twice, cut once.”

Finally, unless the consensus among my delegators is for me to do otherwise, I intend to signal my vote both on the forums, and on my Mastodon profile (@christopher@chinwag.org), and I will do my best to give at least 24 hours of notice before I vote; I prefer to declare my votes on Fridays. This will allow my delegators time to act appropriately. In the unlikely event that I change my vote last minute or fail to signal ahead of time, I will of course be available to speak, and will happily explain myself.

What should I do?

If you’re interested in delegating to me, here’s what you do:

  • Go to Bancor’s Snapshot. Make sure your wallet is connected.
  • On the left, there is a list with four options; select ‘Delegate’.
  • In the ‘To’ field, put your chosen delegate’s address or ENS name (in my case, “christopher.conforti.eth”, without the quotes.)
  • The ‘Space’ field should read “bancornetwork.eth” (again, without the quotes).
  • Click ‘Confirm’ and approve the transaction.

Thank you for reading my proposal, and for your consideration.

To reach me:

If you can’t reach me on the forums for whatever reason, check my forum profile and my website for ways to get in touch with me.

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I totally missed that. Thanks! Is there anything I need to change here?

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Looks fine to me!
It’s totally up to you how you go about it.

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Proposal: Whitelist BBS with External IL Protection

I will vote FOR this proposal. Though the project doesn’t even have a pool yet, it’s very interesting, has much potential, and (so far as I am aware) uniquely (to date), the project maintainer has offered to bear the brunt of impermanent loss themselves (via some TKN held for exiting LPs) until the project matures. This way of doing it not only makes it a better deal for us, but as the submitter points out, it could “become a new token launch best practice” if this goes our way, and I agree. Given that the submitter is willingly putting themselves in the fire instead of expecting us to do it entirely ourselves, I’m willing to put a little faith in them.

Guidelines for Vote Delegation on Snapshot (BIP12 Addendum #2)

I will for FOR this proposal, as I made clear in my post in its thread.

Proposal: 350k Co-investment / 1% Trading Fee on ICHI Pool

I will vote AGAINST this proposal. I expressed my concerns in my first post in the thread. While I don’t necessarily see an issue with bringing the fee up to 1% on an experimental basis, it’s probably a bit steep and others in the discussion pointed this out too. I would rather we wait until we have more liquidity depth in the pool before playing with the fees too much and I feel that liquidity mining rewards are a better tool for that. I fully support the co-investment increase, but as they are bundled together I cannot support the proposal as a whole.

Proposal : Whitelist Gitcoin (GTC) / 250K BNT Co-Investment

I will vote FOR this proposal. GitCoin isn’t a terribly new project, I’ve heard it buzzing around for a while. It will enable us a way to pay our developers and offer bounties, the tokenomics seem sound to me. I see no reason not to bring it onboard, despite the complete lack of a pool for it.

Proposal: Increase Co-investment Limit to 250K BNT on Rarible (RARI) Pool

I will vote FOR this proposal. Initially, the proposal also included a whitelist and I did not support it mainly because we have a pool and (at the time) it had a depth of zero. Now it seems someone has added ~$10k of depth. It turns out it was already whitelisted (which it didn’t appear to be in the screenshot I posted, notably :thinking:) and is in need of a co-investment increase only. Seeing as it’s already whitelisted, it seems prudent to try to rescue it. I do think it should be followed up with LMR proposal, however.

Proposal: Update whitelisting and co-investment increase quorum and supermajority requirements

I will vote FOR this proposal. When I first started reading, I was vehemently against primarily because it looked like they were going to propose something that was brought up in another thread, and I spoke against that and made it very clear why I thought it was a terrible idea.
However, the actual proposal laid out here (by none other than the excellent @mbr and @tfns) is fairly sound and it seems that it seeks to protect the DAO and the protocol strictly without silencing others, so it has my support.
Update: This proposal has recently been updated with different parameters. However, I find the new parameters agreeable, so my vote hasn’t changed.

Proposal: Whitelist DAPP Network (DAPP) w/ 500k Co-Investment and External IL Protection

I will vote FOR this proposal. DAPP is a very interesting project with a sizable userbase, and we would be foolish to pass up the opportunity to become the liquidity hub for this network. Their EdgeOS project–they might wanna rename it before Micro$oft gets a sniff of it–is an especially interesting premise.

(BIP) Reallocate 50% of Vortex Burner vBNT for Bancor Brand Awareness Campaigns

I will vote AGAINST this proposal. I don’t think we should be using the Vortex Burner for this–as pointed out in the thread, it’s a liquidity locking device. And by my understanding, it’s not modular and is in fact part of our security system; it is purpose-built, and that purpose doesn’t include marketing. Even if we were to do this, I think 50% is absurd portion. I don’t deny that we have a problem with public awareness, but frankly I think this is a poor way to solve it.

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My votes have been placed, as indicated, on these proposals:

Guidelines for Vote Delegation on Snapshot (BIP12 Addendum #2)

Proposal: 350k Co-investment / 1% Trading Fee on ICHI Pool

Proposal : Whitelist Gitcoin (GTC) / 250K BNT Co-Investment

Proposal: Increase Co-investment Limit to 250K BNT on Rarible (RARI) Pool

Proposal: Update whitelisting and co-investment increase quorum and supermajority requirements

The following have not been submitted for vote yet:

Proposal: Whitelist BBS with External IL Protection

Proposal: Whitelist DAPP Network (DAPP) w/ 500k Co-Investment and External IL Protection

(BIP) Reallocate 50% of Vortex Burner vBNT for Bancor Brand Awareness Campaigns

I will continue to watch these proposals to see if I’ll be changing my stance on them by next cycle.

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Just as a note to anyone considering @ccc as a delegate - I want to offer my full endorsement. @ccc is a relatively new addition to the DAO, but has quickly built a reputation as a dedicated, thoughtful, and creative contributor to DAO discussions.

With an account only 50 days old at the time of writing, on a per unit time basis, @ccc has a similar level of engagement with DAO operations as some of the veteran community members who have been with us since the launch of v2.1, eight months ago.

Read time: 21 h
Posts read: 681
Topics viewed: 94

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Proposal to Increase Co investment for LRC to 300,000 BNT

I will vote FOR this proposal in its current state. Initially this proposal asked for 800k, and I didn’t support that; the author has since reduced the co-investment ask to 300k, and I think that is much more reasonable, so I support it.

Holo (HOT) - BancorDAO Whitelist Proposal

I will vote FOR this proposal. Entertainment is a massive industry that Holo seeks to capture. I feel that there is a bit of vagueness as to how exactly the project proposes to accomplish that, but there isn’t anything that stands out to me as bad and therefore I’m happy to let them do what they do.

Rentible (RNB) - BancorDAO Whitelist Proposal

I will vote FOR this proposal. I know from first-hand experience just how lucrative a market real estate is; we would be foolish not to connect ourselves to it so closely.

Proposal to Increase co investment on NMR to 750,000 BNT

I will vote FOR this proposal, as stated in this thread.

Proposal to Increase fee on GNO pool to .5%

I will vote AGAINST this proposal in favor of the standardized fee.

Proposal to Whitelist NOIA (Syntropy). 150k co-investment and voter incentive (2nd attempt)

I will vote FOR this proposal. Syntropy represents exactly the kind of project that I think will really carry DeFi into everyday mainstream use; giving the legacy Internet a portal into the new one. Becoming the liquidity hub on Ethereum for this project would be a smart move, I think.

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LRC updated to 300K co invest

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