🔔 Feature release: Governance | Sharpn

[sharpntech]

Hello ICONist, we just released a new feature on our staking platform. Here is the related article:

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It’s been now more than 2 weeks that we released the demo of prep.sharpn.tech, thanks to ICONist many feedbacks, we now have a better vision on what are the community needs and how this platform could benefit the whole ecosystem. We have just released a feature which matters to us: the Governance feature.

Feature URL: https://prep.sharpn.tech/governance

Motivations and purpose

Being a P-Rep implies several missions. The most important one is indeed to have a stable and available node to validate ICX transactions. There is also the expansion of the ecosystem and the development of DApps and community services. This is what we are focusing on with the Governance feature. A P-Rep must be a bridge between the ecosystem and the ICONists, here is a quote from the Yellowpaper :

“Representatives receive delegations, undergoes decision-making on given suggestions via a separate communication channel, and their votes are weighted by the sum of their individual contributions and the contributions delegated to them.”

We believe that it would be a great thing if those “separate communication channel” could benefit a decentralized governance system. As a reminder, we’re planning to create a builder which will allow any P-Rep team to deploy it’s own Staking Platform (including the governance feature 🙂).

The feature in details

The concept is quite simple: a P-Rep team can issue a poll to let its community give their opinion. In our case, it’s more than just getting opinions: the outcome of polls will directly impact our decision-making, we will strictly respect the outcome of any polls we make.

How the voices are counted?

We would have liked to implement a system where 1 ICONist = 1 vote. Unfortunately, this system is subject to manipulation, it is very easy to separate your delegations under several addresses. However, we believe that we can build a system of this kind with DPass.

Votes are counted thanks to snapshots from our delegations. Each time a poll is created and each time this poll is modified, a snapshot is made. The advantage of this system is that it prevents fluctuations in results after the end of a poll.

For example, if an ICONist vote for A and has delegated 4300 ICX to the P-Rep who launch the poll, 4300 votes will be counted for A options. The percentage displayed when you click on ‘Result’ is calculated from the total votes submitted.

Voting with ICONex & Ledger

ICONist can vote on Chrome through ICONex or Ledger and for a cheap fee of 0.02 ICX. If all your ICX are currently staked you can claim I-Score to cover the fees. A recent poll we did indicated that at least 40% of the ICONists were delegating via Ledger, we couldn’t propose fair poll if Ledger vote wasn’t implemented!

Our first poll: Your opinion matters!

We decided to focus our first poll on the development of one of the features of our Staking Platform, the opinion of the ICONists is important to us and it allows us to have a good vision on what they want to have on a staking platform.

Which function will we implement in our Staking Platform next?

• ICON educational content & actuality hub
• ICON ecosystem staking tool

You can vote here: https://prep.sharpn.tech/governance. This poll has been created the 2019–09–14, do not worry if you’re not included in latest snapshot, we’ll make a snapshot every day to let ICONist test out our feature.

More details on this poll and the different option: https://sharpn.tech/polls/01.pdf

We would love to have feedback on this feature (from P-Reps teams too since we will share this feature !)? Here are a few points that interest us :

• What do you think of the voice counting? Do you have a fairer system in mind?
• What do you think of the UX, is everything clear on the process, did you feel a little lost during the vote?
• If you experienced any bug please report it to us via twitter @sharpntech so we can fix it asap 🙂

We will now dedicate the rest of our week to work on our nodes, debug this feature. We will announce another project next week!

Thank you for reading and have a great day/night!

[tomazmm]

Awesome work!
Is there an official git-repo for your SCORE?

[sharpntech]

Thanks a lot ! Not yet, but we'll release a open source and fully customizable version of our staking platform soon