We had a great discussion on this week’s community call around decentralized governance with Chris from Chainflow & Staking Defenders as well as Gavin and Lorien from Figment Network. Unfortunately, the audio from the video recording got messed up around 10 minutes in (sorry everyone!), so I thought I’d bullet some of my key insights from the call here for the community.
- Likes the idea of Livepeer as a technocracy, a small group of tech-savvy people developing the network at the early stage of the network.
- Posed the question: how do you move beyond a technocracy towards more decentralized governance once the tech has matured?
- It’s important to establish a project’s core values from the onset so people can make decisions based on those values. Establishing these values too late would be like “trying to unscramble an egg”.
- Asked the community its thoughts on a formal constitution as an off-chain social contract to guide project decisions and proposals, referring to the Cosmos constitution and Satoshi’s whitepaper as examples of this.
- Likes the idea of communicated and understood values for communities to refer to when making decisions.
- Doesn’t believe it’s too late for existing projects to establish and communicate these values because it’s still early and there’s still only a relatively small group of active participants.