Very respectable and admirable response. Cheers to you sir!
You know I love you @tux, but I have to ask… It seems like as the CEO/Founder of Entropy, “a decentralized network which leverages threshold cryptography” you might someday find yourself in an awkward situation where your concerns as CEO of Entropy put you in a conflict with your duties to your Threshold community constituents.
You ok with this?
I appreciate you asking the hard questions Damon and am eager to see Tux’s reply.
I think @tux is in a great position to help us buidl towards our target audience and I also trust that they will step down appropriately when and if that is necessary. I do not have the same objection.
Hello All - it’s great to see all the community engagement here!
A potentially important factor to consider during this election:
How many council members are required to enforce a veto?
To promote a healthy power dynamic I suggest proposals must remain easy to create but as difficult to veto as possible (within reason). If it’s too easy, an unintentional democratic process may emerge where the general voter body is disproportionately opposed to the council, seeking their approval rather than their oversight.
If a “threshold” has not yet been determined I suggest 7-of-9 majority. This promotes a healthy relationship between DAO voters at-large and the council by requiring members from both communities and a ~75% consensus to veto proposals while still offering the logistic flexibility of missing two members.
Is there any existing thinking on this?
This is an excellent question and one that has been on my mind since I first heard about the idea of a council governing T.
I thank you for bringing up this question, and I agree that before any council is formed, it is paramount that a set of guidelines for the council (perhaps voted on by the independent DAO’s for both Nu and Keep) should be formed. I also believe that any decision should be made by the vast majority (75%+).
Thank you again for your contribution to the conversation, I am eager to hear what others have to say regarding it.
Great questions, @KPrasch ! Here are my 2 cents:
How many council members are required to enforce a veto?
I’d go with 6-of-9, which gives you a 2/3 majority, a common super-majority ratio. Although I agree in spirit with higher thresholds like 7-of-9, I’m afraid it can get a bit too risky from the operational perspective: it’s harder to gather consensus, and more prone to paralysis.
Let’s not forget that the veto is an extraordinary measure anyway (ideally, it should never happen), and that the most common task that the Elected Council will perform is to determine network-level policies for rewards distribution. In contrast to veto decisions (which, as mentioned above, should be rare), rewards distribution will surely be subject of rich debates within the community as a whole and within the Elected Council itself (as expected from a representative body of the community). Dissension should be expected and tolerated within acceptable margins, and I’m afraid that a 7-of-9 threshold wouldn’t give much room for that.
Finally, if it serves as a reference, Curve DAO Emergency Multisig has a 5-of-9 threshold, Compound Multisig is 4-of-6, and Yearn Treasury Multisig is 6-of-9.
I would like to nominate as candidates for the seats from the original Keep community
I think of all the above besides having shown a long term commitment to the project, have the capability of doing thorough assessments and do what’s right for the future and growth of the protocol.
I’m honored to be nominated, and I accept!
If elected, I will endeavor to make well-considered, and well-researched decisions rationally and impartially supported by open, explained models and simulations when appropriate.
I nominate myself for the position of Threshold Council for the KEEP seat.
At the moment I am a moderator at Keep Network (also og-knight), Threshold Network (also OG), Tally (also OG), TBTC. I have been actively participating in the team’s projects every day for more than 1.5 years. I regularly participate in team discussions and have a deep understanding of the project. As far as Threshold Network is concerned, I followed the merger from an early stage and I understand well its essence, principles and goals.
I launched the Keep node over a year ago and was one of the winners in Playing for Keeps several times.
I’ve been in the cryptosphere for 4 years. I have 2 years of experience as an ambassador / community manager (for example, in projects such as Manta Network, Rose, Covalent, Qredo, Flux and others), extensive experience in content creation, conducted online meetups.
I am also a DAO member of the HOPR project, Covalent.
I also have extensive experience (over a year) of participating in various testnets (for example, KEEP, Mina, Hopr, Certik, Akash, Avalanche, Kira, Rizon, Nym, ALEO, Ironfish, Bitcountry, Joystream)
I really like the T project and I really want to make important decisions in the Council for the development of the Threshold Network.
I nominate myself for a NuCypher council seat in the Threshold Council.
I was involved together with David Nuñez in the first steps of the construction of the Proxy Re-Encryption artillery for NuCypher as his PhD Supervisor. During several years we helped NuCypher grow, providing our support from an academic perspective. We were involved in the WorkLock and helped testing the different iterations of the network. We currently run a NuCypher node as part of the NuCypher University Staking Program. I am also part of the NICS Lab, the cybersecurity research group at the University of Malaga, where I am supervising a PhD Thesis on Secure Multiparty Computation. More on my academic profile here: www.nics.uma.es/isaac
Last year I founded Decentralized Security, a university startup focusing on developing security building blocks for the web3 stack, and since them I have continued working with NuCypher in the improvement of the commit to work process. In parallel, we are also working with the Ethereum Foundation in the development of an opensource Hardware Security Module for BLS signatures that can be used by Ethereum 2.0 validators. More info on the startup here: decentralizedsecurity.es
Two main research areas I am exploring within Decentralized Security are:
- Applying Secure Multiparty Computation to the web3 stack.
- Improving privacy in the web3 ecosystem.
I believe those two areas are very related with Threshold and I hope to be able to continue contributing to this project and helping it evolve.
I’m very happy to see so many quality nominations - thanks to everyone from both communities! I would like to nominate two more candidates for community consideration.
Michael Egorov, Founder of Curve, Cofounder of NuCypher
Michael is is well-qualified to serve on the Threshold Council given his familiarity with token economics, decentralized finance, DAO governance, and threshold cryptography. I believe he can provide valuable insight to Threshold, particularly around strategies for scaling tBTCv2 (and a potential associated thUSD product) into cornerstones of decentralized finance.
- Twitter: https://twitter.com/newmichwill
Stefano is an early NuCypher investor (both personally and through his funds). He also served as the Executive Director of Aragon, a pioneering DAO governance framework, for which he now serves on the Association’s Committee (a very similar role to this, in charge of managing the treasury and steering the governance until it can be fully decentralized).
He is very involved in decentralized computing and finance, with a specific focus on privacy preserving technologies and platforms. He has written extensively on decentralized governance: Why 2019 Will Be The Year Of The DAO – Stefano Bernardi.
I would like to nominate tux @maclane, stefanobernardi, michaelegorov for Nucypher. @Will for neutral. Naxsun, Eastban, mhluongo, Sasha for Keep. The reason I nominate these people are because they will bring a great outlook and experience for the success of Threshold Network
In addition I’d also like to nominate @jakelynch for the council if he’s open to it, for the same reasons as mentioned above; besides having shown a long term commitment to the project, have the capability of doing thorough assessments and do what’s right for the future and growth of the protocol.
I have been involved with Keep as
- A contributor on the T2, T6 and rc0 merge proposals
- Running a node in Keep Network since Sept 2020
- A member of the Keep Community Multisig
- Governance Coordinator for Keep
- PfK winner
I’m currently participating in Threshold in the Integration Guild’s Treasury and thUSD task forces
Howdy Threshold community!
My name is Garrett and I would like to nominate myself for a Nu Council seat for the upcoming election.
For some background, I am the CTO of a web3 enabled media startup called Masterfile. Our company was founded in 2021 as the direct result of winning a NuCypher bounty at this year’s EthDenver hackathon, placing us 4th overall (out of 100+ teams). We have since raised a seed round and built a team of talented developers and designers to bring our vision of a more equitable media industry to life.
We are actively developing an encrypted NFT protocol in collaboration with the Nu core team that will utilize the existing PRE network as well as the upcoming AbioticAlice network currently being developed. We are often cited as an upcoming use case of the Nu/Threshold technology and are hard at work evangelizing the Nu/Threshold network to top notch organizations and creators as we build. We are excited to share our progress with you all in the very near future.
As a Council member, I think I would provide a unique frame of reference as someone building an application on top of Threshold that would provide balance across the viewpoints of the Staker and Token Holder DAOs. I plan on leveraging my position as CTO of Masterfile to gain feedback from both engineers working on application development as well as the end users of our products (both of which are underrepresented in the current governance structure imo) and distill them down to actionable insights for the improvement of the Threshold ecosystem as a whole.
I have been heads down building for the last few months and haven’t had as much opportunity to engage with the Threshold community as I would have liked, but I look forward to changing that as we get closer to launch and getting to know everyone much better!
I very much appreciate the vote of confidence with my nomination. Thank you @Eastban and @Naxsun It’s an honor. However, as much as I would like to participate, there are personal reasons not to that I will not further divulge.
But, as a major stakeholder with financial backing to sway DAO votes, I believe it has reached a point where there would be a significant conflict of interest in sitting on a board deciding (potentially my own) rewards - or worse, persuading against veto on my own (potentially bad) proposals.
For these reasons, I have to respectfully decline.
I have strong confidence in several of the current nominees to make objective and fair decisions, so I will not be making new nominations at this point. Looking forward to the vote.
I appreciate the nomination @Naxsun and @Eastban! I accept the nomination with great honor, I would like to be considered for the seat on the Keep Network side, I have been somehow involved in the keep network community since the end of 2017.
In these years I have been involved as:
- Multisig elected by the community,
- full-time evangelist for many months, writing articles, threads, blog posts etc.
- moderator with daily 6 hour shifts for many months too
- leader of the integration guild, actively participating in the process of prospecting new partnerships and integrations
- Node staker since 2020
- Contributor on some governance proposals
- PFK winner several times
I’d like to mention that currently, I work as a frontend developer on Elastic Swap and ElasticDAO.
And I am immensely grateful for the opportunities that have been given and I know that I have much more to contribute to this community and DAO.
I don’t expect there to be any conflicts of interest between my position on the Threshold council and Entropy. The Threshold network and Entropy are not in conflicting positions; Entropy is not competing with Threshold and vice-versa. Entropy is an implementation of a decentralized asset custodian, not a competing threshold cryptography network. In contrast, I see a lot of potential between Entropy and Threshold interacting with one another. As such, I see this as a potentially beneficial arrangement for both of our communities/networks.
I would like to nominate Bogdan Opanchuk for a NuCypher seat on the Threshold Council. Bogdan has been a member of the NuCypher team since 2018 and I believe he will bring valuable perspective to the council. LinkedIn