Sure Ben. As an AMM LP you have the ability to move funds at will, so I think you are mostly unaffected. You can continue to LP, see what happens and move your LP if/when you choose.
1.The LP position will not be recreated. Rather a new pool would be created on a different chain, and you can choose to migrate there.
2. That’s correct, you cannot move SOV while staking but you can move the SOV rewards you would unlock once the reissuance occurs.
In my view local governance is best.
“That government is best which governs least.”
Having everything governed by a single system means that system must govern a great deal, which leads to poorer governance.
The solution to this is a tiered governance system. The highest levels of governance should deal only with the minimal, most fundamental issues. Local questions should devolve to local governance.
What this looks like in practice has not been developed yet. But Sovryn shows an early example. Bitcoin PoW is the highest and most minimal governance. Bitocracy, which is “local” to Sovryn, deals with Sovryn.
In an BitcoinOS environment, you could imagine Bitocracy dealing with the highest questions and subDAOs dealing with specific Dapps or specific chains.
Imo you are very right on what you said in general,
but still very wrong in applying that to this specific task.
As a staker i am very probably interested and economically affected in what “the other SOVs” are doing on their chains.
Yet we shall stay where we are… or ramp up stake on every other chain and sub protocol to even have a say.
Dealing with multiple stakes, DAOs and structures to basically govern the very same thing, that ties us together, named Sovryn.
I believe that creating DAOs and tokens may be a nice thing for founders, but not for stakers/users.
This is exactly what I am thinking. Everyone governing the same thing on the same level of decision making basically just in a different place. This will lead to subsidy wars between jusristrictions and infighting as everyone will try to make “their” platform the best - with the limitid adoption funds we have this is not a good strategy moving forward.
If you govern local you need to make it somehow hierarchical. Have a main governing body and then some municipalities that are lower in the chain and can then send proposals in the upper chamber.
I would propose (and that definitely means BitcoinOS has to accuse fees on lower layer transactions in some way beyond just the DEXes)
That would allow the upper chamber to have kind of a pre filter but has the final decision making and therefore can interfere before it comes to any wars or grieving and also would probably favour BitcoinOS dexes (as they would also make lower level fees) leading to a unified Bitcoin development over the long run.
That leaves DEXes with autonomy while having decisions made without bridging the actual decisions just the proposals. But thats for later when BitcoinOS is a thing and generating fees. For now its a tough position and I think BOB Dex might need to stay in multisig until BitcoinOS is released.
Hi @yago!
I understand the focus and energy is on a very different topic right now but cound you spare a moment to share your current view on this SIP, a short overview perhaps, in regards to the conversation that has taken place in this thread?
As well as in regards to the recent events and new understandings of BOS and Sovryns relationship and roadmap - Has there been any changes in this SIP with the recent development (for lack of better word) - or are there anything in this thread that has changed its meaning in regards to where we are in relation with BOS?
A few questions to just clarify my where I’m comming from and what I hope to understand:
Is this SIP still under consideration and planned for a vote or will it need to be rewritten in anyway - and when would the SIP be up for vote if it is still considered?
How is the migration plan looking to you and core at the moment? - What are the current best options?
How would Sovryn look like after the event - are we fully migrated or will sov be a splitted community throught different Tokens and chains?
Thank you in advance, I appreciate your and the dev teams time and all the hard work you guys are putting in, Thank you!
Hi Ben. I think you may be referring to SIP-0077, which provides staking rewards (in the form of canonical SOV) on the Sovryn Layer. This SIP passed and is already in action. SOV is planned as the native token for Sovryn Layer.
Oh, that completely slipped by me and I just thought the discussion died out - my bad and thank you for clarifying! 