Lessons from Lisbon re: DXgov

For a more general overview of what happened in Lisbon, check out @sky and @Powers great write ups over here:

Here I’ll focus a little more on Lisbon and the past few weeks concerning the DXgov squad and plans for moving forward.

I gave a presentation this past Wednesday, which had a good turnout, but I was advised to write it up on the forum for everyone to read.


Lessons from Lisbon

Explaining DXdao in Lisbon was something I got far better at compared to EthCC. Generally, though, this is still difficult for us, and everyone explains it differently.

Most of the time, it would go something like this:

“We are a DAO that builds products in the defi and prediction markets space,

but what makes us unique is our governance.

Its fully on-chain, decentralised governance that controls our products and treasury via illiquid reputational voting and holographic consensus with plans to move to Governance 2.0”

Then from there, I usually got one of two responses:

“Wow, that sounds incredible. Where can I learn more?”

or

“So is there a multisig somewhere controlling the treasury?”

This is part of where the reason for a DXgov Twitter came from. https://dxvote.eth.link/#/xdai/proposal/0xf8ec86f14f10f9627ed946043b0bc4c865c6b8efc53ba6ae8fb0cdd4dff6ee39

We may be great at governance, but no one knows about it, so we have some work to do on education.
https://twitter.com/DXgov

So follow the twitter and look out for lots of content coming soon where we give updates on our own governance, share thoughts and interact with the community to bring our side of the story from the front lines of governance.


The other part of what I learned from these conversations is that people are very interested and see great value in what we have …

Coincidentally …

During blockchain week in Lisbon, we were contacted by a particular well-known protocol that has been in the space for a long time about our governance. Following more talks with them, there is a lot it looks like we can offer them, and so for now, I can only say to keep your eyes open for some exciting news soon.

During blockchain week, we also had several other protocols talk to us more about the possibility of them using a form of our governance.

We knew at some point we wanted to provide governance to others, but this has made clear that a large and current demand exists for what we have.

It’s an exciting time to have a team working on governance as we may be one of the best-positioned players to capitalise on the coming demand.

The main issue that comes up is that protocols want what we have with illiquid REP voting and holographic consensus. The problem comes with how long it took us to get here. Telling a partner that you can have what we have, but you need to take two years to build a distributed but reliable REP distribution amongst hundreds of governors isn’t exactly realistic. And so, for most cases starting with liquid token voting is the easiest path forwards.

Hence why it’s essentially the default method right now, despite all its issues.

Feedback:

And so the possible solution that seems attractive and realistic for most people coming to us with these concerns and needs is for them to begin with liquid token voting under the DXdao’s guild system. This means we can introduce them to governance whilst having some guard rails that takes advantage of the existing DXdao governance platform that has proven itself over the past 2 years. It also allows protocols to learn many of the operational skills involved with governance that are often underestimated but something we have lots of experience with.


So, what’s next?

For DXgov we have a lot of work and a lot of potential, so we need to execute.

Short term we still need to build DXvote into exactly what we want. If not only for our own needs but also because what attracts projects to us is that we are building a DAO platform that is actively used by a DAO.

“Built for DAOs by a DAO”

And so having a smooth UX with maintainable and reliable code is first priority if we ever wish to offer DXvote to other teams as a full governance 2.0 product.

With all the news and future partnerships to come, we need a priority on guilds.

It will be a tricky balance of shipping fast but safe code with an interface and features to outdo existing offerings like snapshot.

We also have our own motivations to empower the $SWPR token and community following the successful launch. Many hodlers are unaware that they may soon hold the power to the most decentralised, powerful protocol governance token on the market.

But we have and continue to build the team to do so.

Alongside this, projects need a clear path into governance 2.0.

The plan for the team to execute on this:

“End goal”

An exciting time for governance, if you have any feedback or thoughts please start the conversation below :slight_smile:

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