Validator DAO Council Candidate: babylonodeONE

Validator DAO Council Candidate: babylonodeONE

hey $ONE community, it’s babylonodeONE - an Independent Harmony Validator DAO Council Candidate.

A few words about me:
babylonodeONE is an old-school, staking-minded harmony validator participating in staking activities from the very origin testnet Pangaea. I’m a formerly Harmony employee (nv) and still a truly devoted believer. My feelings about Harmony DAO can be expressed in a simple quote: “It’s needed and it’s on time!”

Why I care about being elected to the Council

For me personally, a DAO is a great opportunity for everyone caring about the cloudless future for the project to take an active role by contributing to the rapidly developing and growing ecosystem of our fast and open blockchain. That means I want every single tiny ONE holder, a whaled investor, a validator and a delegator has an equal opportunity of taking part in the decision making process for the future of the project. This is doable even if it is not so obvious for now. But let me show you how I’d like to shape Harmony DAO to the borderless decentralized organisation for all!

Council Candidate Agenda

Governance review:

The Harmony Governance current state can be compared to the ordinary political structure with the many Political parties united into the Staking community of validators. These ‘parties’ have rights to make individual decisions via Snapshot using their voting power* (self and delegated stake).

Simple explanation:

Validator = ‘Political party’, managing personal and your voting power on its own.

But what if you want to personally participate in an important process of decision making? And your point of view is completely different from Validator’s you stake with, but your owned $ONE coins are not enough to run a validator which means you can’t vote on your own.

My point of view is that Governance should be fair for everyone holders and this one of the things I’d like to improve and implement as the DAO Council Member.

To this end, I propose to have special Governance voting nodes for those holders willing to participate in the decision making. For example, if the community is going to vote for “yes” or “no” decision - there will be ran 2 Governance nodes:**

  1. The ‘Yes node’ - voting power staked with this node will be used to vote for the Yes decision;
  2. The ‘No node’ - voting power staked with this node will be used to vote for the No decision;

We can even try now how Governance nodes will work. There’s the ‘babylonodeONE to Harmony Validator DAO Council’ to battle test the idea of Governance nodes with you, guys.

So, If you share my point of view on the fair Governance with equality for everyone as a basis you can already delegate to it. This will mean that you support my candidacy to the Council. All the voting power will be used for babylonodeONE at the voting stage on May 23rd.

My Commitment as the DAO Council Member at the very beginning:

  1. Provide a fair access with equal rights to everyone $ONE holder to the Harmony DAO Governance (everyone must be and will be heard when it comes to Harmony DAO).

  2. Productively cooperate with other Council Members and build basics for Harmony DAO Governance.

  3. Communicate with everyone willing to participate in Governance, review their inputs (together with other Council Members) and give the green/red light to go to voting.

  4. Build a strong communication pattern between The Core Team, Community and the DAO Governing Body.

Looking forward to being presented at reddit AMA starting on May 16th. @rocktheblockchain let me know what you need from my side to be involved.

@Cryptowolf, please help to promote this thread via telegram (if it’s possible and you think it brings value to the community);

* I completely support the opinion that Validators deserve the trust of presenting their delegators by voting using all the power of joint stake. But my guess is also that everyone can have a right to show his own opinion if it’s different from Validator he stakes with.

**The mechanism for implementing and using Governance nodes can be changed based on Governance needs, but it will always give the chance to everyone to vote! Governance is open to your inputs.

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Hey harmonauts,

It’s babylonodeONE - Harmony Validator DAO Council Candidate

Thanks for so many interesting questions. I do really appreciate your interest to know who is going to be elected to the Validator DAO Council. This is very nice to see that you care a lot about the anticipated DAO movement established by the Harmony Foundation.

In my turn, I’m trying to keep my answers short, clear and transparent describing my personal point of view on Validator DAO.

  1. What do “DAOs” mean to you and why do you think the Harmony Foundation is setting this DAO up?

Definitely, a DAO for me it’s about Governance. I don’t want these words to sound populist, so breaking my understanding down to you.

For me, Governance is when everyone who cares about Harmony has the right, ability and equality to participate in the contribution and decision making process for the project development.

As Harmony is a quite mature chain at the moment it’s already the time to go further, to the next level of implementing the idea of “Consensus for 10 Billion”. The whole DAO idea with voting, splitting in different DAOs, assigning people in charge (on a voluntary basis like the Council members) is the perfect combination for that.

  1. The Validator DAO will be seeded with 4 million tokens from the Harmony Foundation. How would you choose to deploy those funds for the greatest impact on the Validator Community?

Even as the council members I don’t think we should be personally responsible for spending funds.

The only way for DAO funds management that I take in an account as the possible one is through validators voting.

Also, to decide what is important and gains significant impact for the Validator Community should come from the Validator Community, the team, the p-ops team and other contributors.

In simple terms, requests for funds should come from those who care and then, the whole validators decide if it is worth or not to be seeding.

  1. How is the “Validator Community” different from the larger “Harmony Community”?

Current validators in common are early supporters who share the Team values and mission which is very important for the goal of independent DAO. They already showed how devoted they’re and I believe they’re a great basis for the 1st Harmony DAO.
We Validators mostly know each other personally, are free from FUD and united by joint goals. We’re already a staking family that can help improve DAO endeavour.

  1. How will you address validators that consistently go beneath the lower bound to increase their rewards? Validator that go into the lower bound to try to increase their APY are pushing out smaller delegators and hurting our decentralization.

To me, addressing them means going against the perfect design of EPoS. I believe you know that the ability to get slots at staking epoch is formed at the core protocol level. So, this is their right to edit a validator and optimise rewards.

On the one hand this is more a moral aspect of their behaviour shows that we still haven’t cultivated staking culture and spirit for Harmony validators.

I personally see the solution for many issues we currently have with staking in building a healthy staking culture and staking spirit which could help avoid 0 fees, craziness of BLS bidding, participation for extremely huge/small stakes, etc.

On the other hand I don’t think the raised issue should be a primary focus for the DAO Council as the our BIG GOAL is to specify and establish and battletest the Way of Harmony DAOs

See my vision on the Council role in DAO at Validator DAO Council Candidate: babylonodeONE

  1. My question relates to the proposed candidate’s vigilance and stewardship. What do you believe the biggest threat is to the Harmony Protocol, and how would you use your role on the Council to safeguard against this threat?

Security and stability of the chain are highly important and depend directly on Validators. We’ve already built a mindset of responsibility and this allowed the core team to go further and release more voting power to external nodes. So, I’ll keep maintaining the mindset of responsibility.

  1. How are you going to add more value to the project?

I’ll choose the narrow direction - the DAO and as the DAO Council Member I can commit to research best practises for DAOs that already exist, implement those practises and develop new ones that fit to Harmony. I will closely work with the other Council members. For better understanding of my vision on how I can contribute to the project check my Council Candidate proposal Validator DAO Council Candidate: babylonodeONE.