BET (BOS Executive Team) has voted to elect Chairperson and Vice-Chairperson.
On March 27, 2019, BOSCore announced a BOS development incentive program and the release of 100 Million BOS into the EOSIO ecosystem. The fund formed the basis of the BOS Referendum and WPS community initiative.
BET (BOS Executive Team) was appointed with the launch of the Referendum and WPS, BET members primarily consist of a group of EOS Block Producers who had a crucial role in the launch of the BOSCore blockchain. The group is self-organized with responsibilities for the oversight of checks and balances related to the allocation of Referendum and WPS proposal funding.
BET Member Elections
In a recent publication of a proposal titled “ Bet DPoS / Design of BET Election and Implementation of DPoS Borda Count Design” that outlines the planned voting mechanism for BET member elections as well as BET member guidelines. BET member responsibilities are listed as;
- General ongoing promotion of BOS and its ecosystem;
- Cooperation with Chairpersons;
- Ongoing monitoring of the performance of the Chairpersons; and,
- Selection and/or removal of Chairpersons by majority decision.
In accordance with the guidelines, the first BET member elections will be tentatively held at the end of January 2020.
BET Chairperson and Vice-Chairperson internal elections
Following the publication of BET member guidelines, BET held a meeting for the election of Chairperson and Vice-Chairperson as per the guidelines on September 5, 2019.
While at the time of the meeting and election the proposal hadn’t met the required 20-day threshold of community referendum, it’s reasonable to assume that it would due to support from the larger community of BOS token holders.
The nominees for Chairpersons were Yves, Winlin, Catherine, and Ben.
With 22 out of the 24 BET members participating in the election and the required support of more than half members, according to the majority resolution.
- A majority decision is one that requires the approval and support of N/2+1 BET members or more.
With voting resulting in the election of a Chairperson and Vice-Chairperson.
Yves was elected as Chairperson with 13 votes and Winlin was elected as Vice-Chairperson with 12 votes.
Chairpersons are responsible for the distribution of the encouragement stipend for BET members and the ongoing improvement of the BOS Ecosystem program strategy including the strategy and distribution of 0.8% inflation earmarked for developers and other infrastructure.
Allocation of the 0.2% Governance fund is earmarked as 0.15% for BET and 0.05% for Referendum and WPS auditors.
Thank you for reading.
References and further reading.