Community Update #07 - Rollup Governance v1
Voting and participating in the Habitat rollup
Habitat Community Metrics 💚
≈ 1500 Twitter Followers
≈ 400 Email Subscribers
≈ 600 Members in Telegram & Discord
≈ 1100 $HBT Tokenholders
Rollup Governance v1
The Habitat Rollup is governed and upgraded by the HBT token-holders. This includes technical upgrades, as well as fee structures and incentives. The initial first version (v1) of the Rollup Governance will help the Habitat community to propose, vote and implement changes to the shared infrastructure.
Starting with mainnet launch, governance will focus on controlling the reward structure and managing the operator fees. Within the first months, the Habitat genesis team stays involved in network and rollup governance for emergency situations and downtime assistance.
xHBT
Members can take part in HBT Governance when they acquire HBT on the Ethereum Mainnet and deposit it on the Habitat Rollup. HBT is converted/wrapped to xHBT, which is essentially a staked version with voting power on the rollup governance, given out in a 1:1 ratio.
HBT-ETH Uniswap LP’s
The mainnet liquidity for the HBT token is represented in the Uniswap pair HBT-ETH. The pair is currently incentivized through a HBT distribution happening in June.
Currently, liquidity providers can not participate in HBT governance.
A proposal to change that is online and can be viewed here.
A more practical solution is necessary to include LP’s into the governance process. Therefore, with the launch of v1, liquidity providers can stake their HBT-ETH LP to receive xHBT on the Habitat rollup with all its privileges.
Voting Modules
After mainnet launch, the HBT Community will have 2 voting modules to decide and vote about changes and receive signaling feedback for adjustments and incentives:
Signaling - used in Feature Farms, deciding about app layer integrations.
Continous voting, no deadline
No quorum required
On-Chain Votes - used for rollup upgrades and finalizing funding proposals.
7 day voting period
10% quorum required
Both initial Voting Modules share the same parameters:
total member count- how many users interacted at least once with the community?total vote count- how many votes have been submitted?total voting shares- total shares voted on a proposaltotal signal- determines yes/no by range of 1-100
The modules can be implemented by all communities on Habitat to govern their own DAO/Community.
Voting/Staking on Proposals
It is not enough to “hold” the voting power, HBT tokens need to be placed and removed actively. Governance participants “stake” their tokens on proposals, therefore they need to be on the rollup and actively voted on an outcome to be counted into the final results. This way Habitat ensures no “Double-Vote” fraud.
Proposing
Proposals have a simple and straight-forward format and can be used for signaling votes and for on-chain governance. Simply Create/Import Github Issues to Habitat, or simply insert a link to your proposal.
A proposal shall include:
ID & title
Markdown text
Github link & tags
Delegation
When HBT holders delegate votes, they assign their voting power to other delegates. Which allows them to form alliances and influence the outcome to their preference.
Potential upcoming features for delegation:
Connect delegate address to Twitter & Github for social links
Verification Tweet for further proof, until a decentralized identity solution is working.
Minimum Proposer Balance
Delegation might be necessary to unite voting power and issue proposals, as a minimal HBT Proposer Balance is required to initiate votes.
Steps ahead to Mainnet
HBT Community Funds are unlocked from 09th June, these funds will be located on the rollup. These tokens remain under direct control of xHBT Governance participants which have their xHBT on the Rollup and can start proposing to add value to the ecosystem.
Until then, more seamless upgrades are incoming for the testnet, more features and improvements will follow in the next weeks. If you experience any trouble with the functionalities, just reach out and report to team members.
Habitat is also aiming for a full audit of the infrastructure and functionalities, to ensure features are working as planned and security is not at risk.
Do you have Questions or Ideas about the Rollup Governance?
Hop in our Channels and say hi!
👾 - Join Discord
🧨 - Take a look at the Telegram Group
🌱 - Check the Habitat Evolution Page
🐦 - Follow our Twitter