Glad to be here and honored to participate!
I’ve read through the protocol proposals within, reviewed the spreadsheet metrics, and re-read the OPEN articles. As you mention above, I also feel that the OPEN mandate might be fleshed out more clearly.
It’s possible the mandate needs sharper language—that’s a valuable conversation for the OPEN community to explore separately, and might take a few weeks longer than available for the 1st snapshot vote cycle happening in 4 days.
Yes, this is a larger conversation and something that will likely not happen prior to the upcoming vote. In anticipation of this exciting community exploration, I’ve gathered what I’ve found mentioned so far regarding stablecoins and networks that fit OPEN index inclusion:
- governance token
- permissionless
- value-sharing
- user-aligned
- leading network
- advance transparency
- composable
- user-led governance
- asset-backed
Evaluated via:
- peg design
- mint/redeem logic
- safety mechanisms
- yield-sharing
- decentralized control
Components should generally exceed:
- $10M market capitalization
- $1M DEX liquidity
There’s also the comment about:
I love what’s going on so far and it’s amazing to see the many respected protocols wishing to be included. With many new airdrop-fueled SQUILL holders becoming SQUILL lockers and voters, clear qualifications for inclusion in the OPEN basket would help governors.
This sharper OPEN mandate may also act as the highly valued expectations and requirements for protocols and networks to strive towards.
12 tokens proposed
Only 10 make the index
vlSQUILL holders decide