HomeCoinsIOTA (MIOTA)Community Vote: Shimmer Ecosystem Funding Proposal

Community Vote: Shimmer Ecosystem Funding Proposal

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Voting Begins Tomorrow, Thursday, July 14, at 2 pm CEST

TL;DR:

Another important proposal is up for a vote by the IOTA community: it could allow ecosystem funding in the Shimmer network. As favored by governance participants, the proposal is put up for a vote by the community through an on-Tangle Firefly vote, starting on Thursday, July 14, 2022.

On Saturday, June 4, IOTA community member Kappy published a proposal in the IOTA governance forum to fund two ecosystem development entities that would support projects in the Shimmer ecosystem. The endowment would be created by increasing the total supply of Shimmer tokens. Kappy proposed that one of the benefactors of the new tokens would be a community-controlled Shimmer treasury DAO, which would need to be established and hold 10% of the total Shimmer supply. The second benefactor would be the new Tangle Ecosystem Association, which is currently being set up in Switzerland and which would also hold 10% of the total Shimmer supply.

In a follow-up proposal issued on Tuesday, June 28, Kappy asked the community in a forum poll whether the proposal should be further pursued in an on-Tangle vote by the community, using the Firefly wallet. As the majority of users said they were in favor of a Firefly vote, Dominik Schiener responded to the proposal on July 6 with the IOTA Foundation’s position on the matter.

An additional observation period has been set up by the IOTA Foundation, giving everyone the opportunity to voice their opinion. Because the majority in the governance forum still favors a community vote on the proposal, the IOTA Foundation has set up a vote for the proposal in the Firefly wallet.

The Firefly vote will begin on Thursday, July 14, at 2 pm CEST with a seven-day pre-vote period, followed by a seven-day counting period to achieve a final result. An exact description of the voting process can be found in a blog post about the recent Community Treasury vote.

A new Firefly version containing the vote in the wallet’s Governance tab will be released on Thursday, July 14. Please follow the IOTA Twitter account or the #tech-announcement channel in the IOTA Discord for news, or check in on firefly.iota.org to find the new Firefly version. We encourage all members of our community to participate in this important governance decision.

We also invite community node operators to participate in the vote count by including the participation event for this governance vote in their Hornet nodes now. To participate you need to do this before Thursday, July 14, at 2 pm CEST. Here is an explanation of how you can add the event as a node operator. After the vote, the community is invited to validate the results in the participation event’s GitHub repository.


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