Musings on the Decentralized Hive Fund

in LeoFinance4 years ago

The Decentralized Hive Fund was built by @blocktrades on the Steem blockchain with little community discussion, and was funded with >= $50,000 by Steem Inc

With the exception of one proposal by PeakD that has been acquiring votes since October of 2019(and is advertised on one of the two places to check proposals) there are no proposals funded with out @blocktrades support.

For reference:

  • The return Proposal has 21,457,328.535 HP voting for it.
  • The next proposal to achieve funding(with @blocktrades support) has 17,571,943.687 HP and has been collecting votes since April 2020.
  • The next proposal to achieve funding(without @blocktrades support) has 15,433,304.105 HP and has been collecting votes for 1 month.

Top voters for Return Proposal

Below I've included all accounts voting for the return proposal with more than 10K HP





@blocktrades 7,598,556.211 HP + 550,072.433 HP (proxy) @smooth 23.316 HP + 2,831,943.146 HP (proxy) @encrypt3dbr0k3r 2,013,045.579 HP @therealwolf 533,923.745 HP + 670,755.399 HP (proxy)


All accounts below this point don't have the same power as Blocktrades
If every account below this point were to stop supporting the return proposal, the next non-blocktrades-supported proposal would squeeze by with 23,000 HP.




























































































@themarkymark 742,451.440 HP + 225,335.766 HP (proxy) @neoxian 424,741.044 HP + 7,790.542 HP (proxy) @eturnerx 123,688.417 HP + 171,645.712 HP (proxy) @dcityrewards 278,479.567 HP @steem.leo 20,731.432 HP + 231,108.556 HP (proxy) @jrcornel 242,498.454 HP + 6,576.303 HP (proxy) @shaka 100,379.508 HP + 86,801.854 HP (proxy) @oliverschmid 145,316.372 HP + 25,915.188 HP (proxy) @ausbitbank 78,732.513 HP + 90,452.852 HP (proxy) @pfunk 145,758.237 HP + 9,574.202 HP (proxy) @kennyskitchen 3,813.901 HP + 142,677.556 HP (proxy) @stoodkev 134,388.205 HP + 3,130.173 HP (proxy) @heimindanger 10,314.990 HP + 120,341.213 HP (proxy) @d-pend 118,899.036 HP + 7,566.778 HP (proxy) @justtryme90 113,819.617 HP + 10,743.309 HP (proxy) @pouchon 122,002.508 HP @xxxxxxxxxxxxxxxx 118,499.516 HP @steevc 59,603.565 HP + 58,021.220 HP (proxy) @reazuliqbal 7,835.403 HP + 103,512.533 HP (proxy) @emrebeyler 94,938.803 HP + 14,315.964 HP (proxy) @edicted 107,230.328 HP + 971.491 HP (proxy) @holoz0r 21,066.111 HP + 86,244.904 HP (proxy) @krnel 100,497.194 HP + 43.850 HP (proxy) @ecoinstant 74,030.180 HP + 24,623.269 HP (proxy) @timcliff 92,782.663 HP + 330.010 HP (proxy) @howo 81,020.932 HP @asgarth 80,985.413 HP @isaria 77,652.429 HP + 395.730 HP (proxy) @atma.love 76,894.981 HP @liondani 69,167.075 HP + 21.336 HP (proxy) @tobetada 69,023.809 HP @jlsplatts 49,550.012 HP + 18,276.871 HP (proxy) @meesterboom 61,961.748 HP + 3,682.619 HP (proxy) @marki99 63,389.014 HP @thebluewin 50,804.339 HP + 11,619.615 HP (proxy) @forykw 55,762.129 HP + 262.479 HP (proxy) @cryptospa 54,191.067 HP @daltono 53,834.467 HP @showerthoughts 0 HP + 53,828.851 HP (proxy) @hope-on-fire 45,086.362 HP @chronocrypto 44,879.632 HP @prameshtyagi 611.872 HP + 43,567.817 HP (proxy) @geekgirl 43,266.673 HP + 9.040 HP (proxy) @russia-btc 42,226.687 HP @mindtrap 41,304.818 HP + 99.376 HP (proxy) @crimsonclad 35,389.009 HP + 28.951 HP (proxy) @blockbrothers 95.204 HP + 34,644.089 HP (proxy) @erikah 33,934.658 HP + 347.843 HP (proxy) @mahdiyari 27,710.570 HP + 6,081.244 HP (proxy) @gerber 29,461.643 HP @v4vapid 23,963.543 HP + 4,849.596 HP (proxy) @fredrikaa 28,023.021 HP @drakos 27,823.231 HP @ew-and-patterns 27,746.971 HP @trumpman 27,575.464 HP @roleerob 17,463.234 HP + 10,005.282 HP (proxy) @digital-wisdom 27,082.898 HP @originate 26,793.540 HP + 5.365 HP (proxy) @felander 20,850.201 HP + 5,830.778 HP (proxy) @thekittygirl 16,915.809 HP + 9,565.222 HP (proxy) @roomservice 26,367.173 HP @lynds 23,914.850 HP @bluesniper 21,644.282 HP @aliento 7,177.220 HP + 13,906.978 HP (proxy) @bala41288 20,103.839 HP + 71.829 HP (proxy) @dalz 19,803.409 HP @matheusggr 19,543.101 HP @imisstheoldkanye 19,529.151 HP @pastzam 18,037.062 HP @resiliencia 17,589.823 HP @techslut 15,823.024 HP + 1,118.740 HP (proxy) @lordbutterfly 16,071.221 HP @techcoderx 5,364.447 HP + 10,384.009 HP (proxy) @crokkon 10,578.602 HP + 4,450.646 HP (proxy) @edje 14,408.371 HP @proxy.token 0 HP + 13,980.886 HP (proxy) @samotonakatoshi 13,796.382 HP + 63.575 HP (proxy) @steem-hodler 13,321.307 HP @doze 12,150.479 HP + 670.617 HP (proxy) @immanuel94 9,714.459 HP + 2,832.658 HP (proxy) @empoderat 10,802.052 HP + 1,694.491 HP (proxy) @eroche 12,394.962 HP @urun 12,304.502 HP @rubencress 11,502.226 HP @rishi556 2,968.876 HP + 8,357.140 HP (proxy) @syedumair 10,162.922 HP + 1,052.071 HP (proxy) @theb0red1 11,169.414 HP @chromiumone 10,804.136 HP @jelly13 10,652.590 HP @sgt-dan 10,314.403 HP + 5.943 HP (proxy) @harpagon 10,075.398 HP @abrockman 10,039.436 HP

Many of the people in this list would rather not see DAO funding for much of anything. But I just wanted to clarify how "decentralized" the Hive DAO is. It's very nearly in the hands of 1 account. If you are voting for the return proposal, the best you can do to support a project is bring the vote balance back to zero by voting for both. I encourage everybody tagged to reconsider your support for proposals. With the current mechanics a vote for return is very nearly a vote for centralization.

A key tenet of Proof of Stake is not being able to control more than what you own. Much like a vote on Hive can't draw more inflation than that account has HP/Voting Power. With the current set up an account with roughly 3% of HP has very near complete control over 10% of inflation. I can only recommend an overhaul of this system so that votes are ranked choice, and influence on proposals is constrained in much the same way as other inflationary votes are... The witness voting system could use the same metrics, 30 full votes for 20 spots already caused enough issue that we had to fork our chain... but the powers that be just changed witness voting to a 30 day power up instead of giving up their centralized power.


A little about proposal 148 / 152
DLUX had the first VR Editor on any blockchain, beating Decentraland by 1 day.
Proposal 11 asked for support to build DeFi in September of 2019. Before Uniswap drew billions to ETH, or most people even knew what DeFi was. Yet it's still been impossible to find enough support here to draw from the DAO like Hive_keychain can do for ~40 lines of code per month.

Hive is carried by few enough exchanges that blocktrades feel comfortable drawing 3-30% fees for trading like this. Hive-Engine charges 1% fees each way and is so secure they lost 40K Hive just this month, and their P2P witness system won't prevent a similar loss. DeFi and non-custodial funds will makes these fees look even more ridiculous. It's known they've turned the return proposal here into "flagwars for grownups," at least they don't invite kids to the circle jerk.


Additional votes over 15 HP for information:

@iansart @steemitromney @eliel @rmach @mjhomb @stever82 @deathwing @lizanomadsoul @espoem @always1success @svamiva @kinakomochi @elevator09 @rehan12 @droida @jeanpi1908 @misslasvegas @gniksivart @vlemon @mstafford @free999enigma @nikv @bleepcoin @fbslo @danmaruschak @fjcalduch @tcpolymath @tabea @jasonshick @alaqrab @anfeng @yintercept @ackza @scubahead @kreur @doldrums @miniature-tiger @bhattg @penderis @victoriabsb @tsurmb @marc5 @markkujantunen @monster-one @downvoteme @fingersik @eirik @maruskina @hodlcommunity @okean123 @vintherinvest @rahul.stan @guruvaj @fusan @shoemanchu @hivetrending @shogo @paasz @jaydih @anonsteve @earlmonk @marius19 @woelfchen @greer184 @freddio @hdmed @flugschwein @notconvinced @wakeupkitty @sabari18 @khan.dayyanz @ykretz @coriolis @jotakrevs @shtup @tggr @forum.orcinorum @deviedev @pouchon.tribes @patrickulrich @atnazo @adamada @shawkr13 @juanmiguelsalas @johnhtims @aaronleang @steemvpn @tuck-fheman @fernandosoder @stemng @palasatenea @tinta-tertuang @hextech @bibop @freddio.sport @sk1920 @jrvacation @taintedblood @lion200 @captainklaus @diana.catherine @sisygoboom @btcvenom @remlaps @stemgeeks @lelon @dirapa @antiretroviral @justineh @maxsieg @likwid @ederaleng @zelegations @brosino @timhorton @virus707 @dorian-lee @abitcoinskeptic @lyndsaybowes @vxn666 @kharma.scribbles @bafi @kargul09 @cnvote @superoo7 @lebin @stuffbyspencer @diosbot @scorer @sudutpandang @slowwalker @lauchmelder @drfk @karenmckersie @bobskibob @bigbanginfinity @abojasim880 @flaws @cryptopassion @talhasch @cerberus-dji @hightouch @cyberjz @bro.poker @alexbiojs @scrawly @briggsy @asd5710 @alphahippie @grimgriz @pervitin @manishmike10 @brayandeltoro @sekseos @bongje @butovets @cryptoctopus @jini-zzang @crypticat @lovelyyeon.sct @twirllinks @diamond-head

Sort:  

I disagree, if more whales were voting, many proposals could get funded without blocktrades vote. It's not his fault if not many are as active as him and theycallmedan, who votes a lot of proposals. I will not remove my vote from the return proposal as long as I disagree with some of the projects being funded.

I am voting your proposal. Hopefully many others will too and it will get funding.

Edit - one of the reasons I am afraid of removing my vote from the return proposal is a proposal just below yours with 15 million HP supporting it that is asking for 2000 HBD a day. Yes, 2000 HBD a day. Imagine funding that.

Blocktrades was voting for that proposal as well. A couple of days ago it recieved funding and @theycallmedan voted for the return proposal which shifted all but a couple of proposals out of funding. Blocktrades stopped voting for the proposal, theycallmedan stopped voting for the return. In the end the only votes that mattered were the big dogs... I very much would like to see an active community behind these proposals, but that's just not what we have.

Again, I have to disagree. Dan votes many proposal that are not funded. Blocktrades votes for steemstem which is not funded. He votes for qwoyn which is also not funded.

It's true that blocktrades can make a huge difference and take many projects over the line, but if there isn't initial support by many people he can't do anything alone.

That is just as big of an issue. He has a 16.2M HP swing on the votes and can vote endlessly with out ever losing that influence. Ranked choice needs to come to witness voting, and some kind of voting pool should apply here but a little different since each proposal is for a different dollar amount. It would suck to lose 9% of my proposal vote for voting for Banjo's $3 a day.

I wouldn't mind a change to the voting system. Hard to game theory that one out.

Also I believe the Proposal system needs dramatic overhaul. The way it is working at the moment, is not far from optimal. Though I believe Blocktrades has all good intentions, it shall not be up to one individual (account) to make a difference. That said, I've seen proposals in funding that I don't agree with at all! Most teams having proposals in funding, are not transparent enough. We've seen proposals in funding with a way too high payout for what is being delivered. We need a (much) better system. I even opt for the possibility to have human teams involved deciding what is good and not. I know, this goes against what we implement at HIVE, but thorough research and analyses of a proposal is required to be able to classify such proposal as an honest one. Something a very very few will actually execute themselves, I believe (gut feeling, not based on my own research).

I believe we first need to create a vision for HIVE before we can decide what the Proposal system shall fund, ie what projects will contribute to the vision for HIVE. At the moment, HIVE seem to be everything. Sounds good in itself, but doesn't really work when try to bring a 'product' to true success. We need to make choices. I would like to see we come together and define that vision and start articulating this to the market in professional ways. Keep in mind, HIVE is from market cap point of few in a bear mode already for a long time. This is not helping to get businesses to come to HIVE. We need to change this direction, and I believe we will be able to do so with a solid Vision in which we make choices what HIVE should be. A chain to power social networks? A chain to power games? A chain to power financial services? A chain ... It can be anything at the moment. Likely it doesn't even matter what we choose, but we have to choose! And choice taken now, may be adapted in the future, so I'm not saying our choices we have to make, will be forever. But we need to get the bears away. We need to get a direction. We need to get organised. We need to work together much more. We need to up our game in becoming professional. When we can do all of this, I'm pretty sure we can start onboarding professional projects and companies, since the HIVE chain is a great base layer for sure.

Note that I for instance reached out to Viberate (they have their ECR-20 token: VIB), a music platform providing tools to professionals in the music industry. They are investigating to add a social element to their service and obviously I mentioned HIVE and offered my support and provided them my 3Speak hosted 'Tokenised Comments" video (here) I do hope they come back to me. I doubt it though, since onboarding such companies, requires a true B2B sales and when we like to get them to use HIVE, we need to confince them in professional ways. The convincing may include integrating HIVE with their service, adapting HIVE where need to fit into the wishes of Viberate, run trials and all. But it even starts with convincing them that they need to implement their social elements on a blockchain.

Great comment, thanks.

We need to get organised. We need to work together much more.

It is extremely difficult for large groups of people to come to consensus. However, there is a potential solution for this. It's called The Matrix-8 Solution. It could be called a Community Consensus and Voting System.

It could change the world (for the better), leading humanity toward freedom, abundance and so much more. But, it can be quite difficult to grasp how it could work. I in-courage you to take the time to research and maybe help bring this open source project into being.

Find out more here: New Age DApps Community
https://peakd.com/c/hive-153630/?ref=atma.love

Namaste

I think the dev fund will be one of the best things about Hive say ten years down the line, but it needs a lot of work. I only started upvoting the return proposal recently because I can't downvote the proposals I don't want. I'd say that's the main problem right now. I'd support a 25% downvote pool just like we with rewards. Easily stop upvoting the return proposal if that happened.

A downvote pool may indeed be an interesting first step to get the Proposal system working. At the moment, its flawed. I do believe we shall make many more improvements for the Proposal system to work better. Transparency on funded proposals is one. Better proposals (or description thereof) is another. Town Hall sessions for proposal pitches is another one. Better governance (maybe including elected human based teams (see my other comment)) is another one. Deciding on a direction for HIVE is a major one (see also other comment to this post). For now, I believe like you, we need a lot of work and therefore time to make something great out of our proposal system

The first step to fixing a problem is admitting we have a problem. Most of the post was because there isn't an upvote pool at all. There is no loss of power for voting for everything.

I am on that boat too.

I like your proposal, I vote for your proposal, I'm not unvoting the return proposal.

Oh for Christ's sake. The HIVE Blockchain Network is an oligarchy. No different than any other social construct. Get over it. Everything in this world is pay to play.

You state the obvious. I get it. I do the same all the time. Here is a little advice. NETWORK and kiss a bit of whale ass along with getting a public relations gal/guy.

Not everyone gets tech, folks just want to know what will work for them! All due respect you are a great guy, but tech speak? A great many influentures on this blockchain are tech deficient. They are all about the Benjamins.

Benjamins

No other blockchain that has the potential for building like on the HIVE blockchain. FACT and you know it.

Disagree? Well you can respond, but if you can build better elsewhere, why are you even bothering with HIVE?

Other places to build (e.g., EOS, Ethereum, or (dare I say) TRON?)

I support your proposal and we have talked (in AltSpaceVR).

I haven't gotten where I am today by playing "the game" ... I'm here to change the game ;)

I don't usually give a comment a 100% upvote, but yours deserves one! Good for your sir!

@disregardfiat. Me too. This is why we need a Community Concentrated Consensus and Voting system in place, which does not take account of stake (or perhaps for some issues it could, i need to think carefully about this point).

Such a system would not replace the current Hive voting power (at least not initially) but it could become a catalyst to make changes.

Do you know about The Matrix-8 Solution? You can find many posts attempting to explain how it could work, in the New Age DApps Community https://peakd.com/c/hive-153630/?ref=atma.love

It could be a real game-changer, for the world!
Check it out @notconvinced @marki99

It doesn't look like I am voting for either of those. I know I am voting for the DLUX thing though. I am going to have to jump over there and see what is going on. To be honest, I don't think I have ever visited the page except to vote for DLUX.

Posted Using LeoFinance Beta

The return proposal is important, because we cannot vote against individual proposals. The main reason I don't create content here is because it's an Oligarchy and not decentralized.

The only proposal we need is to change the governance model to better reflect the userbase, rather than a few whales being in control. Once/if the governance model becomes more reflective, then maybe I'll become more active and care about proposals.

Bingo! And these are the uncomfortable conversations we have to have. At the very least ranked choice witness voting, and a similar metric for proposals since proposals aren't all equal. Something closer to voting power per dollar spend.

Seems to me that 11m usd should be enough to complete what remains to be completed.
Especially, IF that development drives a price recovery.
I think our development funding schemes should reflect the near completion of this project.

I mean, we can't even fund the guy willing to create the documentation developers need to build out more for themselves and us? #151

This 10% comes out of the pockets of people that actually use the platform.
I get that 'Create content, get paid.' might be a little optimistic for the average person that gets here and doesn't find his/her way into favor, but, people will do this for pennies, better, imo, that we give that 10% to attract more people and hold the developers to developing value, not easy munies for demselfs.

Dlux, take us away!

I support the return proposal Because only then the most wanted ones get through. I also vote for proposals. It needs tweaking but if a proposal doesn’t get enough votes then that’s tough.

I see you're a LeoFinance guy. Are you aware the Leo Witness is currently in 30th place even though a witness higher is literally offline? It would take an equal number of votes just to move Leo's witness over netuoso. This is near exactly the same as the proposal system, except witness votes are limited to 30, while proposal votes are unlimited. But I guess netuoso's witness is more valuable to the chain than Leo's (By the way you vote for this stale witness). I also don't see you supporting any funded proposals... I could have missed something though.

I didn’t know that was stale, I already voted for Leo voter and I have voted on proposals.

Thanks for the info on the stale witness. I just did some house cleaning.

Do you get notified when a witness starts missing blocks or do you check it manually?

I heard about it on LeoFinance first. Truth be told I have a stale witness as well... but it's in 169th place.

I have a recurring to-do list item that pops up so I check and review witness votes regularly.

Yup. Read the above. One of the few things we agree upon.

Xs.Oops. Made a mistake. Thought you were @berniesanders. My mistake. Wrong

Haha, yeah 16x not 10x.

So confusing with the Xs.
Confused

Its been a reality that, those who has more “stake on the game” has more power over the blockchain.”

And at current stake leaders, they are (i agree) very choosy which projects to be supported by the Hive Work Proposal Fund.

It's also true that the leadership has presided over declines in value, missed opportunity, and before today the reason stated for not approving my project was a lack of time to review the code.. While at the same time supporting a closed source project. Blocktrades has stated they wish to build a level 2 solution for Hive. So it's not that my project isn't needed, it's that I'm critical of the motives 40 days in to a 60 day proposal. He of course has every right to swing the community to give stake holders more power over distribution, just as I have every right to say it's more than a fair amount of self interest.

By opening up to the community, can you say that you could garner enough suppprt for your projects, even not by votes but from sumphaty?

It is still very few whales and orcas to be really a diversified community.

We are experiencing the hardship of a pioneering decentralized ecosystem, on which still on the hands of the whales.

We have alot to go, and a community to learn all of this.

Let the concept of governance sink in to all community members.

Thanks for the mention. I specifically vote for the return proposal because I think too much value is lost for Hive through the proposal system. Beneficiaries are developers who already easily earn by programming with blockchains, with exchanges, from their stake and often advertising.
A lot of successful and lucrative projects were accomplished without the proposal system. They get already a lot of money from Hive.

I am not sure what all this means and I am just a middle-class homemaker who has got a few dreams which I hoped Hive would help me fulfill. I just hope people like me would be able to work on Hive without any glitches.