It's time to upgrade HOPR governance, but what should it look like.
25 May 2023, 15:00
It’s time to upgrade HOPR governance, but what should it look like?
Looking at HOPR as an ecosystem, not a monolith, different entities have different needs. Different parts of HOPR require different types of proposal, levels of automation, and robustness against governance attacks. Some parts might need high participation thresholds, others not. Some parts will need to make decisions quickly and automatically, while others will be slower. Some might want quadratic voting, others one token one vote. The list goes on.
For example, the Community Trust will continue to manage the assets raised at launch, and the new equity
it holds in HOPR RiSe. This Trust MUST act on decisions made by $HOPR holders and also needs to be very secure against governance capture. 💰
The HOPR Association will continue to use governance in an advisory capacity, consulting token holders for their opinions on development, marketing, and future products. 📦🎟️
Finally, the HOPR protocol itself will need governance to set various parameters like packet size, ticket winnings and probability. However, only HOPR tokens staked in active HOPR nodes should have a say. Decisions should be registered on-chain and automatically implemented by HOPR nodes.🚀
We need a system which can meet all these needs while still being accessible to everyone. This will require a significant structural overhaul which we’ll share once its complete.
But rest assured that as a participant everything will still be familiar: you’ll discuss proposals, sign them, then vote according to your token holdings 🙏