Governance meeting #91 27/07/23

Meeting Notes Governance meeting #91 - 27/07/23 IOTA Discord General Voice channel

Topics Discussed:

  • How do we envision to structure the Grant Programm and the Marshal Island DAO once the IOTA Community tokens become available?

    • This is a follow-up to last week’s discussion already. @Deep_Sea presented his thoughts while writing an updated specification for the current Grant committee. Mainly it is about making the specification more generic and suitable to be updated in the yearly vote. Parameters should then be set in the yearly vote to continue the program. JD mentioned it would make sense to specify parameters like: "The hourly compensation for a Grant reviewer will be “as set in the accepted governance vote dd/mm/yy, which established the continuous existence of the program for another 12 months”.
      @Phylo thinks this could lead to a problem that the exact parameters cannot be found directly in the Operation Agreement hosted in Github, which is the legally binding document for the DAO LLC, and therefore recommends that with every yearly vote, the whole specification document in Github will be renewed with a fresh version that contains the parameters as the voters have agreed on them. Like this, the exact value is always present in legally binding documents.
      The regulations of Marshall Island will allow us to update the Exhibits (which contain the specification) 5 times before they need to be put under a mandatory review by the ministry again. This would mean that we will have to undergo a fresh review process every five years - it seems reasonable.
    • Action: JD and Phylo will review the OA and also setup a call with the Lawyer to find the best practice here
  • Would the IOTA community want different Grant reviewers or technical experts than the Shimmer Community for its Grant decisions?

    • The IOTA Treasury would likely focus much more on real-world adoption projects than DeFi plays, so different skill sets may be necessary for the Reviewers.
    • Could be covered through the inclusion of subject matter experts
    • We will work on a text to include the ability to involve them as technical consultants in the review process
    • Conflict of interest is a difficult topic here; We want the best and most skilled people involved, but we must ensure they do not review direct competitors. It is up to the Project Lead to have an eye on this topic
    • Action: JD and Phylo look into how to update the wording in the specification on that matter
  • Would it make sense to have two separate specification documents and the potential that every community (IOTA token holders for the IOTA Grants, Shimmer Token holders for the Shimmer Grants) decide in Governance votes to put slightly different versions in place?

    • This may be interesting as the communities and the target areas may divert over time, So priorities, funding tiers, and processes may be independently changed in one Grant program.
    • It also seems necessary anyway, as there will need to be two separate votes in both networks - IOTA voters decide on IOTA Grant specification, and SMR voters decide on SMR specifications. Things likely will divert, as we see in Kusama and Polkadot, and we agree that this is likely a good thing. We want to ensure that votes are synchronized so the community is not overwhelmed with different topics.
    • Action: Phylo works on the specification for the IOTA Grant program (draft here) and will include what JD updates from the lessons learned so that we start from a very much identical basis with the IOTA Grants
  • Future structure of the Marshal Island DAO LLC

    • We want this one LLC to be the home and umbrella for many future DAOs, activities, and Committees in the community. Therefore it may make sense to define an overall Regulation structure for the operation of the LLC (like signing contracts, dissolving rules, etc.)
    • Any Committee or activity of the community can be placed under this as an independent committee “Sub DAO” governed by its own specification (represented as an exhibit to the Operation agreement)
    • Action: JD and Phylo to talk with the Lawyer what’s the best practice here
  • Next meeting: 03/08/23, 4 pm CEST in the Discord General Voice channel


Yes sir . I will be support this project

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