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.
- 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.
- 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.
- 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.
- 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
- 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.
- 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.