Echelon Weekly Recap I

Hello and welcome to the first of many weekly recaps! This is EP #10, coldplunge (top left in family photo), and I look forward to reporting key updates each and every week. My hope is to give a detailed, inside view of the Echelon Prime Foundation. This, in combination with Echelon’s Discord, will help involve the community as much as possible in laying the groundwork for an exciting and novel P2E gaming ecosystem.

It was a busy first week for the newly elected class of EPs. Initial hurdles included clarifying our roles and responsibilities, setting up co-working tools, scheduling recurring meetings, and signing paperwork. We have held four ‘all hands’ meetings already. These discussions, along with conversations between community members on Discord, made it apparent that three goals are important in the short term:

  1. Deciding on snapshot dates and specific mechanics for PRIME allocation.
  2. Determining the appropriate time for PRIME and PRIME staking to be released.
  3. Finalizing Echelon’s charter, a foundational set of rules in which EPs operate.

A snapshot vote is live now to advance the first goal. The prompt reads:

In favor or against — take Parallel cardholder snapshot at EP election open (Feb 13, 12:00 pm EST) for a future PRIME airdrop.

It will close once all eleven Emissaries have voted, and needs unanimous approval to be ratified. Votes will be cast with Emissary Prime Mark NFTs.

We are making headway on the second goal as well. Keep your eyes peeled for a proposal on PRIME to be released by 4LL next week.

The third goal involves various checkpoints. To name a few:

  • Defining actions that EPs can take at a committee or council level.
  • Determining appropriate trading restrictions for EPs around material, nonpublic information.
  • Defining instances where EPs can trigger a process for governance to be settled by community vote.
  • Establishing mechanisms for EPs to impeach or remove another EP.
  • Establishing mechanisms for PRIME holders to advance an issue to EPs in a ‘referendum-like’ structure.
  • Establishing rules to ensure that EPs can resist hostile or ill-intended governance proposals.
  • Specifying treasury best practices.

As you can probably guess, finalizing the charter is not something that will happen overnight. At the same time, we recognize the importance of getting the structure in place asap — amendments can always be added as we learn and grow down the road.

This week has been somewhat hectic, and there is much left to do. But I speak for all of my fellow EPs in saying that we are honored to have been elected to take part in this journey. As I have spammed in the past and will continue to spam every week — we want your input! Join us on Discord and let’s keep the conversation going.

Until next week,

Cold

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