Flashstake Protocol | FLASH Community Funds Proposal #XIOfeedback

Thanks for writing this and putting the effort into taking up the discussion. I think this is an important topic to be addressed in the long run.

Before I get back to the answers just a few things that I would like to clarify:

I guess the current relation between XIO and FLASH should be part of DYOR. This includes that people investing in FLASH should know how it relates to XIO.
Noteworthy, FLASH is a bit of a special case, because it is the first project that’s realized and what is more, it is not an external start-up porject. Therefore, the interdependence is stronger.

Due to what I explained above I am altogether fine with the relation as is. Calling it micromanagement sounds wrong to me. Given the recent discussions we are having I am rather under the impression that the core team is unfortunately micromanaged by the community…
While I am supporting the underlying notion to somehow increase independence for FLASH, I jut wanted to be transparent that I do not consider the current relation as unhealthy or unfair. To me this question is a lot about discussing a good set-up for external start-ups incubated by Blockzero.

200,000 following Umar’s suggestion.

I think the token’s should be managed by the project’s growth manager since the funds should be exclusively used for growth purposes. These purposes should be discussed and agreed to by the liquidity providers of the project. If there is no project specific growth manager, then XIO’s coming growth manager should manage the funds accordingly.

Works.

Suggest LPs and perhaps long term stakers (>180 days).

Yes. While I am positive that there are growth tactics that could be achieved better if the project does not have to go through a flashstake it only has advantages to restrict them to just this use. Obviously payouts should be used at full liberty.
After a total staking period and Flash sum is accumulated the funds need to be returned.

Limit to growth investments that are in line with the growth tactics the community approved.

I think it addresses a necessary topic. I would have preferred a different approach. The proposal itself is under the impression that XIO should fix something so that FLASH feels more independent. I am a strong believer in achieving independence by your own and here are some alternatives that I would have preferred:

  • Long term stake of a year and 10% payout is contributed by the stakers to the FCF.

  • Adding a minor slippage to Staking or LP mining that goes to the FCF.

  • Long term stakes or LP providers give 10% of what they may gain through a price increase.

  • Deflating flash that is idle for a month (balance >2000Flash, can be less once the gas price decreased or Flash increased)

I would really like to see all of the Blockzero Labs projects become their own thing entirely. I think that’s true decentralization. How to achieve this is the big question, and will need to think more. Perhaps a governance model where (let’s just FLASH as an example) people with FLASH can vote on FLASH stuff as they will, and Blockzero votes with the FLASH tokens in the Vortex based off the votes from XIO holders? If a citizen has both XIO and FLASH, they can vote independently with their FLASH, and the XIO vote would go towards the Vortex vote. The Vortex vote would need some sort of quorum to be able to be included in the FLASH vote (perhaps >50% of XIO votes), otherwise it can’t invoke it’s voting power, and only FLASH holders would count. Something like that. Not thought through properly. Could be similar model for all future projects.

100, 000 FLASH seems about right. But going back to my previous point. I don’t the Blockzero Foundation should have any FLASH, only the Vortex, and the FLASH Foundation should have all the FLASH. FLASH governance should be independent to Blockzero Governance, with the caveats suggested above.

Yes. Multi-sig. 3 Blockzero core, 3 Flash Holders? with a quorum of 4? I don’t really know what the industry standard is when it comes to multisig.

Yes. Snapshot. With regards to governance, see my above comments on governance in this reply.

Again. See above. FLASH owners can vote, and the Vortex vote is decided independently based on a parallel XIO vote (but only invoked if the XIO vote is >50% of vote count).

Don’t see why it can’t be like any other “Foundation Wallet”.

I think the governance model I suggested deals with this. If the ethos shifts, then XIO can use the Vortex vote to significantly shift a vote, if more than 50% of potential votes are cast in the XIO vote.

I think I’ve added a fair bit over how I think the governance should be handled. I really want each project from Blockzero Labs to be it’s own decentralized thing, but still maintain some Blockzero influence through a Vortex vote.

  1. How many FLASH tokens should be given

  2. Who should control these FCF tokens?
    Multisig is great.
    People elected by the Flash community, XIO community and XIO fundation.
    XIO fundation should have 1 access, being the funder and first supporter of the project.

  3. How should these FCF be governed? Should they also use [snapshot.org] as we have used for $XIO voting?
    Definitly: as long as gas is expensive, using snapshots is a very good way to engage the most people into the governance and avoid a “ruled by few whales” system when people need to pay $30 for a vote.

  4. Should only FLASH holders/stakers/LPs be allowed to have a vote on how FCF is used?
    Yeah, I think so for most of the decisions.
    XIO holders had their own flash tokens in the past. If they sold it they did not support the project (from a price and use point of view) and should not have to be listen.
    BUT…
    XIO holders, with the fund, are directly impacted by the FLASH price, even if they don’t hold personaly FLASH tokens.
    Maybe the governance could have a two level way of decision.

  • low / medium : only FLASH holders
  • high / exceptional : FLASH + XIO holders
    That way FLASH keeps the fast and operational mindest for the daily decisions, but is not 100% separated from BZ which still supports it.
  1. Should FCF only be allowed to be flashstaked and not transferred to other wallets?
    Yes.

  2. How do we ensure ideas align with the overall goals for Flashstake and does not go against the Blockzero brand or ethos?

  • cf my voting system
  • option from the BZ fundation to give some veto on strategic decisions.
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How would we elect people for the multisig? Based on xio holding? Based on social activity? Can we really trust a stranger on the Internet with such a power over our funds (millions of $ at this point), solely based on what we see on a forum? A multisig is great but choosing who controls the signatures is a hard task…

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1. How many FLASH tokens should be given as a one-time allocation from the Flash Funds to a FCF for this purpose?
We can keep around 100k

2. Who should control these FCF tokens? Should a multisig be created and if so who should have access to that multisig?
Multisig would be the best option

3. How should these FCF be governed?
Democratic voting as we do for all major matters

4.Should only FLASH holders/stakers/LPs be allowed to have a vote on how FCF is used?
Only Flash holders be allowed

5. Should FCF only be allowed to be flashstaked and not transferred to other wallets?
Yes it should be allowed only for Flashstaked

6. How do we ensure ideas align with the overall goals for Flashstake and does not go against the Blockzero brand or ethos?
Voting would ensure goal alignment

7. What do you like or not like about this proposal, is there anything you would want to add or change?
No change suggested

Thanks,
Monk

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