thank you for sharing these thoughts and questions @Patrick - I’ll share my two cents here
To which extent? Aren’t there right now blocks on geo regions for API access due to government overisghts?
- The invulnerability to censorship or government intermediation is specifically a goal for 0x Protocol, not 0x API. 0x Protocol as a smart contract on Ethereum should be able to maintain stronger decentralization and thus resistance whereas an instance of 0x API must be hosted by some central party that does not share the same properties. While its true that there can be blocks on geo regions for API access, the goal is for that to not be possible on the protocol level.
Lot’s of talk about the outflow of funds from the treasury but not much guidance for receiving funding (under what stipulations) and how governance may potentially govern the inflow of organic value capture
- Related to @0xSHA’s point about the protocol’s incentive system being one that has been long unclear and debated to its fullest, economic sustainability is a very worthwhile area to explore and I’d love for us as a community to explore this further. I will double down on Article I’s specific call out for 0x Protocol to be non-extractive – finding a model that satisfies both sustainability and non-extractiveness is the difficult but necessary goal in my opinion.
Shouldn’t the constitution have its own detailed ratification clause on enacting the process of altering the constitution, altering the constitution and finalizing it?
- We can follow ENS’s lead here with their ratification clause: “Amendments to
this constitution by majority vote: Any change may be made to this constitution only by two-thirds majority and at least 1% of all tokens participating.”
For the following discussion points, they seem to surface a need for commentary on the Articles. On a broader stylistic question, do we want to formally include the commentary as part of the Constitution similar to how ENS’s Constitution has examples under its Articles?
Is it important to outline what can be considered as excessive costs to incorporate guard rails where suggestions can be measured against to more appropriately determine that the suggesting is considered as excessive? Kinda like developing a Howey test but for the application of defining a suggestion as excessive?
- One way that we can think about what is not excessive is by first determining what is the base necessity for the protocol to continue to operate and then using that as the benchmark. The most clear base necessity in my view are the costs for maintaining high security guarantees which could take the form of a bug bounty program, audits, a group dedicated to security, etc.
Could someone provide an example of a public good that could be funded?
- An example of a public good within the broader blockchain space that I’d support using treasury funds for because I think there is synergy with 0x Protocol’s mission is research on account abstraction since it could improve aspects like security and user experience to the exchange of value.
Is this completely funding teams or just supporting them and is this for teams applying for project grants or teams spotted with potential by the community and are there bench marks that teams need to meet in order to be eligible other then aligning with core values, mission, and vision?
- I think there can be various initiatives spun out from the treasury that could support multiple of these options you’ve laid out – a proactive grants committee like 0xEVE that was run by @nikita that supported teams they identified had potential and applied inbound. I would advocate for benchmark/milestone based grant disbursement in any scenario in addition to aligning with core values, mission, and vision.
Can we brainstorm what potentially products and programs would be leveraged to support the sustainability? Should we list out some no brainers that can be projected to have to exist as leveraged products and programs to support sustainability? Does this consist of employing professionals with certain skill sets to provide certain counsel and financial services and possible long term clerical services on behalf of the contracts and their sustainment?
- Some no brainers (not exhaustive list) would include an updated 0x Protocol Website (bounty for which is already posted!), continuation of the grants program (and the team needed to run it), 0x Explorer (it’s predecessor was a community funded project!), bug bounty program.