xGov Update and Community Input Required re First Voting Session

– xGov Update –

3 July 2023

For those who opted in to the xGov program during GP7 sign up and remained eligible for rewards throughout the period, your GP7 rewards will be paid out to the xGov Term Pool 1 address. That means you’ll officially be an xGov once the funds hit the Term Pool 1 address.

Remember, your stake is not affected by this. Only your rewards go to the xGov Term Pool 1.

You’ll be able to check your xGov status once we bring the xGov voting tool to mainnet. I don’t have an exact date for mainnet yet, but this will happen in the next two weeks or so.

If you committed to xGov via one of the DeFi protocols, your rewards will also be deposited to Term Pool 1, and you’ll use the same address you use to connect to the DeFi protocol as your xGov address.

— Community input required —

I’ve been thinking about the first xGov voting session, and I’m considering having it open for all of August to give xGovs time to analyze the proposals and vote. That also means that the xGov voting session one will end as the Governance GP8 voting begins.

Do you think four weeks is enough time for all xGovs to vote?

1 September

Update 1 September:

xGov voting session 1 is now closed. Seven proposals have passed, totaling 60,102 Algo. They are:

xGov-6 Transaction Builder UI
xGov-8 Evil Tools
xGov-9 AWallet - First open-source Algorand wallet
xGov-14 Fund Unnamed Wallet
xGov-17 ASA Stats Point in Time - tax reporting reference for US citizens
xGov-19 Algorand Foundation market operations dashboard
xGov-49 Algo Wallet Library for SolidJS Web Apps

We will initiate contract proc

all of august sounds good to me! that should be enough time imo

As Xgovs I think we should be held to a higher standard for time-required voting than traditional governance, therefore I think 4 weeks is enough time for Xgovs to sufficiently delve into each proposal offered and make a decision on whether they should be brought to the front of the queue and greenlit.

Adri - thanks for this and now you can ignore my DM’s in Twitter asking the same question. I think four weeks is good but many people are away in August and off their emails etc… maybe Aug 15th to Sept 15th?

I don’t think is a good idea to overlap xgov and gov voting sessions.

Anyone else have a view on this?

yeah could just lead to confusion for people who do both + you might not have enough time to make an informed decision what to vote for. there are quite a lot xGov funding proposals to read through

Where xgov voting tool we will find? On official Algorand governance page? Where we will know to voting start date? Tnx, Deee

Few ideas after first voting session end…

1. please introduce delegation of voting power… one person should be delegate his voting power to people who he trusts… delegation does not mean that person cannot vote by himself and he should be able to change it any time… delegation goes though the voting sessions so technically this mean that he does not have to vote if his delegator votes
2. please do it as hidden voting… there is no need for whales to wait until the end… they might vote any time during the voting session because they cannot calculate the results
3. please change the system of proposals that will be funded to following: At the end of the voting session the proposals are sorted by votes/requested. For each project in the list check if we have enough money to be allocated to it, if yes we fund it, if not move to next project.
4. please allow person to change his decision after he casted vote
5. please do more marketing, also please ensure that projects are well known and xGovs needs as minimum time to understand them… for example live youtube AMA streams should be introduced… the fact that only selected projects got to discrod AMA or were marketized by official twitter feeds is bad
6. please do survey and make it public on why only half of people voted, try to find out why whales did not vote, why half of people voted for all options
7. please make proposals also encrypted (hidden) until proposal session is closed… (prevent stealing of proposal in the voting session)
8. please make the voting session shorter, but period between end of proposals and voting much longer…
9. please make system for reviews of proposals (similar as they have in cardano) … pay small amount of algo to reviewers and reviewers of reviewers
10. gui must be different people tend to vote for first proposal… please make users search what they like first
11. project proposals must be much more structured (edited)
12. milestones - if project requires prepayment it must be clearly visible… all other deliverables must go through xGov voting session… but please beware not to do it as waterfall delivery… scrum is much better than waterfall

community, what do you think?