MyBit DAO voting highlights
May 2019
Welcome to our first ever edition of the MyBit DAO voting highlights!
May 2019 marked the first month of the MyBit DAO being in full operation and It has been action-packed right from the start. There is plenty to look back on, but firstly we would like to welcome the newest editions to the DAO, who are now an integral part of influencing the direction of the MyBit Network.
Welcome: Michael V, Marc, Eric, Michael R, Niklas, and Andrew!
Glad to have you aboard — also a big thumbs up to all the current proposals, we look forward to welcoming you to the DAO in the next edition.
So, as mentioned, there has been some great consensus driven decision-making this month on the MyBit DAO. It has been a really encouraging early exhibition of the DAO, and we look forward to applying the decisions made in the near future.
Task.Market replaced with The Planning Suite #44
Voters decided that due to the excellent product made available by Autark labs, it makes sense for the MyBit Network to use The Planning Suite for supporting inbound value contributions. The Planning Suite is a decentralised and DAO governable / integrable bounty platform, and using it to fill the role of Task.Market allows MyBit to allocate more resources to other products on the network. Discussion thread
Keeping Civic for identity management on MyBit Go #29
Voters decided that keeping Civic is in the best interests of the MyBit Network. Civic is used to verify the identity of Asset Manager (AM’s) on the MyBit Go platform. Discussion thread
Integration of 8% fee to cover fiat conversions on MyBit Go #32
Voters decided that an 8% fee should be integrated into the MyBit Go platform and applied to transactions involving merchants who only accept fiat currency. This is due to the currently high rate of conversion between crypto and fiat currencies. Discussion thread
30% of ETH reserves NOT converted to DAI #4
Voters decided not to convert company ETH reserves to DAI for safekeeping, meaning those funds will continue to fluctuate with the price of Ether rather than USD.
Cris and KD developing upgraded asset manager page #39
Voters decided the DAO should pay Cris and KD from the MyBit Team $1k USD each in ETH to develop an expanded version of the MyBit Go asset manager page. Note: all payment made to team members through the DAO are subtracted from team member wages. Discussion thread
Updating Whitepaper #24
Voters decided that the MyBit Whitepaper should be updated and expanded to include the latest developments and feature roadmaps. This will be completed by the team in the coming weeks. Discussion thread
Rory pay Increase #37
Voters decided to increase Rory’s pay in response to an increase of responsibilities. Discussion thread
Purchase of an AVADO i3 using Task Market funds #25
Voters decided to use Task.Market funds to purchase an AVADO i3. This is to be used for testing the viability of this device for use as an asset on MyBit Go. Discussion thread
Digital content on GO #31
Voters decided on introducing revenue generating digital content as an asset class on MyBit Go. This will now be available alongside IoT assets for investors and asset managers to engage with on MyBit Go. Discussion thread
Award Ian and Peter researching/proposing incentive schemes #35
Voters decided that the DAO should pay Peter and Ian $500 in ETH each for researching potentially viable incentive schemes for IoT partners and proposing them for voting on the DAO. Note: all payment made to team members through the DAO are subtracted from team member wages. Discussion thread
Continue with Podcast #12
Voters decided that ‘Blockchain: without the fluff’ should continue to be hosted by the MyBit team. This does however also require willing guests who meet the criteria of ‘legitimate companies building good solutions in the blockchain space’. We have reached out extensively and hope to have more episodes coming in the future. Discussion thread
Keeping photo requirement for MyID #21
Voters decided it is important that MyID (the MyBit DAO’s native identity verification app) remains a picture inclusive identity verification system, similar to that of a passport or drivers licence. Discussion thread
DAO guidelines to be created #20
Voters decided that guidelines should be created to give some structure to the activity that is acceptable on the DAO. These guidelines will be linked on the MyID and MyTokens pages to ensure visibility. Discussion thread
Come join us on the DAO!
So there you have it guys, some of the most impactful decisions that were made during the first ever month of the MyBit DAO. A big thanks to everyone who contributed to the consensus around these actions!
If you haven’t already, make sure to join us on the MyBit DAO. It’s a short process of taking a picture with your Ethereum address and linking your twitter or other social medias and only requires locking 1 MYB token. For more information check out our step by step and video tutorial.
Thank you for reading this first edition of the MyBit DAO voting highlight! Keep an eye out for more news from the world’s first consensus-driven financial services ecosystem. Make sure to check out our reddit community to get involved in discussions, and our telegram for live updates — We’d love to have you onboard!
Until next time!
The MyBit team
