After a successful first three month of RSR delegates on four Yield DTFs, I am happy to anounce the delegate program has been extended for a further six months, and expanded to the five new AI DTFs, which use optimistic governance.
What happened so far
You can find detailed information about the first three months of the RSR delegate program here: Reserve Delegate Program Trial Run - Review
TL;DR: Delegates help decentralize voting, bring in fresh perspectives and in the four DTFs they manage no proposal would have passed without them.
Also, no delegate ever missed a single vote!
The Forum post above contains a discussion about how the delegate program could continue, with two main additions emerging:
1.) Add new DTFs
2.) Add new duties, like token melting or auctions
After internal discussion in the ABC Labs team, @nevin.freeman came back to announce that ABC continues to delegate 60% of their voting power to the six intrepid delegates for four Yield DTFs (bsdETH, eUSD, ETH+, and USD3) and would be open to including the AI DTFs as well.
As luck would have it @ham had already been delegated a substantial amount of vlRSR, the new pan-DTF governance token for the optimistic governed DTFs. Ham was open to share the responsibility and so, together with ABC, we redelegated some of the voting power to the other five delegates.
The delegates continued to vote without fail during the discussion.
Delegates in optimistic governance DTFs.
The main selling point of optimistic voting is that it reduces the necessity to vote.
Instead proposals just pass, automatically (called optimistically, cause it sounds a lot cooler), unless there’s a veto by vlRSR holders. If vlRSR holders veto the propsal it gets paused, and needs to be re-submitted, incorporating the feedback received.
So what’s the use of delegates in optimistic governance DTFs, you might ask?
In some ways nothing changes: The main duty and responsibility of delegates is their ability to pay attention. A bit like Wallfacers in “Three Body Problem”
If a malicious or malformed proposal comes up, wallfacers delegates then veto the proposal, and save the day.
@ham already made good use of this by insisting that DTFs follow standard governance procedure. An important callout to make decision making legible. Something that investors and regulators care deeply about.
Last month recap
Because redelegation took a bit of time the five AI DTFs are not included in this month analytics. Instead, here’s the monthly analytics matrix. Every delegate voted on each proposal and gave rationales for their decision.
I am delighted to see this continue, and look forward to more contributions and exchanges between delegates.
