LONDON (Bywire News) - As the EOS chief delegates near the end of their second month in charge concerns are growing that a lack of access to account permissions is standing in the way of enacting the changes being put into action. You can see the full video here, but we’ve summarised the key points and contributions below.
Chuck MacDonald is in the chair, joining on the road towards a vacation. This week he took part in a highly successful EOS engagement meeting in which 12 people took part. They had a discussion about how each took part in the ecosystem and ranked each other on the basis of the impact of their contributions. They will be holding these meetings weekly and there’s an open invitation for anyone to attend – both from within Eden and from outside the community. They are rewarding people for their contributions with EOS, NFTs and future respect ratings.
Gracie and her team have been working on the second trial election for Chinese Eden to be held on Sunday. She has been holding meetings with people from different parts of the cryptocurrency world, spreading the word about what’s happening on EOS.
They have also secured 25 new members.
Michael had something of a double update having been away at Davos. Here he spoke with politicians about Eden and EOS as well as the Vice President of Ukraine.
Aside from that, he has been doing the following:
- Holding town halls on Discord.
- Has created a formal template for communications.
- Written the declaration of Eden independence.
- Started redrafting formal proposal for Eden member services.
They are looking to get the return of the initial files for the website but will have to compensate the owner for doing so.
Edgar is continuing to work on the Eden delegate accounting system and has hired five interns in Edenia all of whom are being trained on Eden code. They have two interns to be marked on the accounting system. All of them will be trained in Eden and hopefully they will make the voluntary decision to join.
Brock was also at Davos. He has no changes to report on his Treasury spending. If his team can’t find other places to deploy, they will be looking for the next round of Pomelo. Helios is looking at organising an eight-week idea bond which is like a hackathon.
They are additionally working on a proposal to ensure EOS has a presence at conferences.
Transfer of Active Keys
At the last meeting, they discussed a key transfer ceremony to celebrate the peaceful transfer of democratic power. It’s essential, they believe, that the elected delegates of Eden have active control of the active keys for the genesis.eden account.
Michael has put together a declaration of independence for EOS. He has sent this to the people who do hold the keys and hopefully, they will transfer it.
Brock suggests targeting June 15th for the meeting to honour the Magna Carta which in his mind is the birth of decentralisation.
Chuck points out the date will coincide with the Eden Fractal meeting which would be a great opportunity to bring the community together.
It’s Edgar who mentions the elephant in the room. What happens if they do not receive the keys? They have already made an informal request which has not been fulfilled. He hopes this will be fulfilled after a formal request. However, if not they will have to delay the transfer and think about the implication of the changes which will be needed to ratify the bylaws.
If they cannot get hold of the account permissions, Chuck proposed someone may need to craft an MSIG which asks the account owners to change the active permissions. Edgar points out that they could do this in parallel to the declaration while Chuck agrees it should be a fall-back permission.
Michael O'Sullivan points out one problem with this approach – even if they do create an MSIG, they are still beholden to those account holders. If they have not responded to a formal approach for the account permissions, what’s to say they will be any more cooperative? The ultimate – if not very pleasant fallback – he suggests would be to de-ratify the bylaws.
One of the major achievements of the last set of chief delegates was to discuss proposed bylaw changes and draft forms for feedback. If they want to do something similar, time is tight. Chuck points out they only have a couple of weeks to get this in gear.
Brock advises a special meeting to focus on bylaws and spend an hour on that and nothing else.
Eden Engagement Meeting
Chuck has been enthusiastically promoting new Eden engagement meetings. He raises the question about supporting member services, engagement and a technical sphere, plus the need for a budget.
“When we do have active permissions would we be willing to allocate a budget to these priorities,” he asks.
“With ongoing expenses,” he adds, “it’s unreasonable to have an ongoing expense which you expect delegates to pay for from their awarded funds.”
He believes these weekly meetings are positive and they would like to distribute rewards to people who participate. He has committed to rewarding in the next meeting in the form of locked EOS and NFTs.
Another idea which came up in these meetings is joining the Yield+ program. Eden has 200,000 EOS in its treasury and that’s the supposed threshold to participate in Yield+ which would be encouraging people to lock their EOS which will increase the total value locked in EOS which should push up the token price.
Eden can help people by rewarding people with NFTs and having a DeFi process which allows people to stake those NFTs for Yield.
That is his idea for the engagement meetings. When they do have the keys should they be distributing funds.
Michael agrees. His Eden member service was intended to kick in for this month so they would have access to those keys for the final month. He stands by the idea that they need it – and that they should buy the websites. The only place they can get 5000EOS to do that would be from the Treasury.
“We need to do it in a fully democratic and transparent way which is backed by the community,” he concludes.
Gracie agrees they need some funds for the things which need to be done by the teams. Unless they change the code funds from the treasury can’t be sent. Eden, she says, needs a tech team to update the code first and for this, they will need the active permissions.
One problem with the funds is the dramatic drop in the value of EOS. Like all cryptocurrencies, its price has been crashing recently. Since Edgar committed to carrying out technical updates, the value of EOS has dropped by half. Equally, after the bylaws have been ratified, he now no longer has a larger share of EOS than the previous head chief delegate would have had.
Edgar suggests the debate is whether they take Treasury funds and put them into collective funds for technical updates, so it doesn’t come from their approved allocation.
The other way to approach it, he says, is if people in the election process run on a platform that what they will do with their funds is implement those technical changes.
The second approach, Brock suggests, mitigates against the risk of borrowing from the future. It incentivises people to vote for those candidates who will use their funds for that purpose.
With allocating funds from the Treasury, he says, the problem is that they are securing the funding but will have to go through a procurement process. The onus is on them to find, hire and pay these people.
Alternatively, rather than tapping the Treasury, they could scope out what they think Eden needs and submit a proposal to the ENF. There are other ways this could be done as a one-time development plan.
Edgar suggests they should continue along the route they had previously proposed. He believes it makes sense to have persistent teams like a civil service in a government. One of the points of hesitancy is nominating who is going to be running these circles. They would then need a transparent procurement process to find and approve people.
Whatever decision they take, the technical issue of how they can make those changes and allocate funds remains. Gracie points out that, right now, they would need the code to transfer EOS to an individual. People who have active permission aren’t allowed to change EOS on the Treasury to other people. However, they haven’t done a test on changing it to other Eden members.
Chuck points out that the domain dot.eden is also an asset Eden needs control over. They need the active keys to that account. It was purchased to develop the network and it was built for the purpose of building Eden. They were paid for that. That meant the social and web assets. He thinks there is consensus within the community but he believes this is an important thing to talk about. He invites those Eden members who have control over it to think about that.
“We’re in a tough spot here,” he says.
Election July 9th planning team
With the next scheduled election approaching, Chuck asked if they needed a planning circle for the election.
Michael put forward that they should invite teams which worked on this to assist them and ensure the continuity of this process. If they don’t have the code changed in the next couple of weeks, he warns, they will be out of time to change it in time for the election date.
He also suggests they need to be doing PR reminding the community that the election is coming up and generating enthusiasm. If they only have 50 people taking part, that won’t be enough. They need to show progress and charm people into the election.
At a time when all blockchain projects are feeling anxious about the future, Edgar brings up what he feels are the key existential risks to Eden such as people moving to other networks, apathy in the election or funding.
He is also thinking about the possible separation of Eden and what happens if one set of chief delegates does not have the support of the ENF. Might the foundation decide not to engage until a new set has been elected.
If that happens Eden would be unable to function. It would look as if it was a failure, when in fact it would have been sabotaged. If the block producers or the ENF suggest they are hostile to it, people will be less likely to invest their time and effort into Eden’s development.
Brock warns that most people in power do not want a democratic election. If Eden continues for years, this could be a problem they may face at some point. In much the same way as the founding fathers of democracy have to include checks and balances to prevent malicious actors from spoiling the system, they may need controls in place.
(Writing by Tom Cropper, editing by Klaudia Fior)