DAO Experiment v0.6
It’s time for the sixth HOPR DAO experiment! For this experiment we’ll be asking the DAO’s opinion on contributing to a bug bounty vault for the HOPR staking program, hosted on the Hats bug bounty platform. The HOPR Association will be contributing 1m HOPR tokens, and this value can be boosted by the DAO or individual token holders.
Each experiment we try something new, and this time round we’ll be running a streamlined process with the discussion and voting phases overlapping. Discussion begins at 2pm CET on Thursday 9th February, with the vote starting 24hrs later. Both phases will end at 2pm CET on Monday February 13th.
Proposals
There will be two proposals this time round, a primary proposal and a secondary proposal:
Primary Proposal: Should the HOPR DAO contribute to a bug bounty on the HOPR Season 6 Staking Contract, hosted on the Hats Finance platform?
Secondary Proposal: How much should the HOPR DAO contribute to the bug bounty on the HOPR Season 6 Staking Contract?
Both proposals will be available to discuss and vote simultaneously, but the secondary proposal will only trigger if the primary proposal passes.
Proposal Context
Bug bounties are a common approach to software security. The idea is that finding a bug or an exploit in a piece of code and disclosing it privately earns you a reward. The more severe the exploit, the higher the bounty. The logic is that if a hacker finds an exploit in a smart contract, it’s better for them to take the white hat route and claim a bounty, than taking a black hat approach and using the exploit to extract funds while placing themselves on the wrong side of the law.
Hats takes a decentralized approach to providing bug bounties, with anyone able to contribute to a vault and help secure their assets. This is particularly appealing to us at HOPR: as the project matures, the HOPR Association needs to have less and less control over the protocol and ecosystem. Ultimately, responsibility for securing the HOPR token and associated contracts will fall to the token holders themselves, either individually or as part of the HOPR DAO. We’re a long way from that, but jointly funding a bounty with the HOPR Association seems like a good place to start. Of course, the beauty of decentralized governance is that the DAO is free to disagree with this assessment!
We’ll be hosting a Twitter Space with Hats on Thursday 9th February at 5pm CET to provide even more background.
Schedule
This will be a relatively fast DAO experiment, with just two phases running mostly concurrently.
Phase 1: Discussion: Thursday February 9th — Monday February 13th
Phase 2: Vote: Friday February 10th — Monday February 13th
The proposals are already set, so there will be no referendum stage.
All phases begin and end at 2pm CET.
Discussion Phase
The discussion phase will run for 96 hours on the HOPR forum. The goal of the discussion phase is to discuss the two proposals to give voters clear context to make their decision.
Should the HOPR DAO contribute to a bug bounty on the HOPR Season 6 Staking Contract, hosted on the hats.finance platform?
How much should the HOPR DAO contribute to the bug bounty?
Members of Hats Finance will be in the forum to answer your questions. We will also host a Twitter Space with Hats on Thursday 9th February at 5pm CET.
Vote Phase
As always, the vote will take place on the HOPR DAO Snapshot page. Voting power will be calculated quadratically. Your vote power is calculated based on the HOPR, xHOPR and wxHOPR you have in your connected wallet, as well as your stake in Season 6. Unclaimed Season 5 stake will not count towards your vote.
You can change your vote at any time, so please keep checking back on the discussion in case new conclusions have been reached.
Rewards
We’ll be issuing NFTs to DAO participants. As always, the highest NFT ranks will be reserved for the most active participants. If you only vote, the maximum rank you can receive is bronze, so make sure to head to the HOPR forum to get the full DAO experience.
Sebastian Bürgel,
HOPR Founder
Website: https://www.hoprnet.org
Twitter: https://twitter.com/hoprnet
Telegram: https://t.me/hoprnet
Discord: https://discord.gg/dEAWC4G
Forum: https://forum.hoprnet.org
Staking: https://stake.hoprnet.org
Bounties: https://bounties.hoprnet.org
Playground: https://playground.hoprnet.org
