SPS Governance Proposal - Establish a Newly Formed SPS Foundation and Elect Dave McCoy as Chair of the SPS DAO
SPS Governance Proposal - Establish a Newly Formed SPS Foundation and Elect Dave McCoy as Chair of the SPS DAO, Initial Director of a Newly Formed SPS Foundation
This proposal aims to establish a newly formed foundation, appoint @davemccoy as its initial director, and, in the interim, appoint @davemccoy as interim Chair of the DAO to handle various matters described in this proposal.
1. Establish a New Foundation
It has become apparent that the SPS Foundation Ltd., a Singapore company, lacks formal governance procedures required to ensure it is responsive to SPS token holders. A structured governance framework is imperative to achieve our long-term objective of more robust decentralized governance and increased utility of the SPS Token.
2. Elect Dave McCoy as Chair of the DAO in the Interim and the Initial Director of the To-Be-Formed Splinterlands Foundation
After the recent successful implementation of the SPS DAO Treasurer system, the next step for the SPS DAO to take full ownership of itself is by electing an individual to serve as the sole initial director of the newly formed SPS Foundation. This proposal aims to elect @davemccoy as the initial and sole Director of the to-be-formed SPS Foundation as he received the most stake-weighted support from the community when electing treasurers.
In such capacities, he will be authorized to carry out certain administrative and ministerial actions on behalf of the DAO, which would enable the DAO to have a clear path forward when pursuing business relationships and partnerships with entities that require a legal representative.
Upon receiving the necessary votes, @davemccoy will be responsible for taking the following actions on behalf of the DAO
- Soliciting and relaying to the DAO law firm proposals to provide legal guidance and services to structure a new foundation and craft governance procedures responsive to the needs of the SPS DAO;
- Submitting a proposal to vote on the engagement of a law firm in connection with the above scope of work and coordinating the engagement of the firm selected by the DAO;
In the interim period before a new foundation is incorporated, @davemccoy be appointed as SPS DAO Chair and will also be responsible for working in conjunction with the DAO Project Manager to verify and ensure that any proposed partnerships and related contracts have been properly communicated to the wider DAO community and that any contracts signed are expressly within the scope of any related proposals that have been approved by the DAO.
As this is an interim position, the duration of the position shall last until:
- The to-be-formed foundation is incorporated;
- Validator nodes are live and the community can choose to elect a new Chair or reaffirm Dave McCoy's position;
- Another proposal is passed to replace Dave McCoy with another elected representative; or
- Dave McCoy releases a public statement via a post on the HIVE blockchain expressing a desire to abdicate the position.
That's all great stuff, so a big yes from me in principle
I note you said nothing about which type of foundation though....
Is there some more background information somewhere? Sounds like a big thing, so I'd like to get familiar with the whole situation before voting :-)
Well said, what hapend to Ali and the Sigapur Company? Why now? Isnt this a lot of work for what exactly?
That was a bit of a disaster really. Not sure what's going on with it now but it was never our foundation, as this would be.
As I have argued for years, a DAO has no legal standing, meaning it can't enact its will.
In order to do so a foundation controlled by the dao is needed.
Okay danke das ist gut zu wissen.
Ich denke genauso muss es sein.
DONT FORGET A PIZZAHIVE
Why there is not an application for this role? What are his competences on this role? This is just an other friend hire a friend same way Clayborn was hired
It's just an interim thing and why Dave is explained in the post....
This is not even a paid position. DAO has only to gain from this.
Take a look at https://peakmonsters.com/treasurers page. @davemccoy got the highest vote among all Treasurers who applied. It will be a waste of time to do another vote for a position that is not even permanent.
Why would anyone get legal risk and consequences for nothing? Just for charity? I don't buy it
How much do you think doing this "limited" and "interim" role should cost the DAO?
Do you really think whatever number you suggest would be approved by the DAO?
And for the record, some people do things because they care about others. I realize you might not believe that is the case for me, and that's perfectly fine. Feel free to vote no and work to nominate someone that you feel will do the job necessary for the fee you feel the DAO will pay.
No hard feelings, I understand!
Clay gets 6k bucks a month for a 0 risk job, you do realize if we compare those 2 roles it makes no sense to me a no wage legal risk job? It smells of something
By comparison this should be at least 10k month then
The dao in the end of the day is just 5 whales deciding, so any suggestion or proposal is useless unless pre-approved verbally by them
As a DAO voter I wouldn't vote to spend 10k a month for such a short term interim position. Here is the literal scope of the role:
And in addition, the interim position lasts at most til the new to-be-formed foundation is incorporated.
I personally can't see how this role can be compared with Clay's job, they are 2 completely separate things. But I don't want to convince you of my intentions, you are free to make any assumptions you like.
He has a large stake and what is good for SPS is good for him. He cares about the game and community enough to volunteer to do some extra work. He will indirectly get rewarded when all SPS investors (including you) see your net worth go up.
Exactly
It might not be paid now but will it be is the real question
If it happens, it will require another Proposal.
Check his introduceyourself
lol proposals like this make me so happy I’m getting outta here. 2 more weeks left till unstaking is complete.
If this is the way, cant think of anyone better the Dave
One question: Where is the SPS foundation to be incorporated ?
I have researched foundations extensively as part of my prep for launching a new dao and imo a Panama foundation is the best, for its strong legal basis and its protection of assets and anonymity.
I like and trust Dave immensely, but I'm going to need to see more detail.
Is the DAO going to pay him?
Thanks Matt, and there is no pay involved. Nor will I have access to any funds, other than the duties I have as a Treasurer.
I kinda feel like you should be getting paid but I don't expect that proposal would pass.
If you're happy to take on that kind of responsibility (which I know you'd take very seriously), and do it voluntarily, we'd be idiots to turn that very generous offer down.
I'm happy to see us move forward, if I can help make that happen then I'm happy to. I don't help for money, I help because I care about the game succeeding and the community thriving! :)
I asked Dave why he want this "punishment"? But he says he will do it! I am grateful. We should all be grateful.
It's only a temporary thing so am sure Dave will be fine.😀
For such a huge change, sure seems like very little detail. Term lengths etc? Im a fan of restructuring the DAO, always thought it needed it. But…. Yeah a little underwhelmed by this prop. I trust Dave also, but more detail is needed. A cabinet would be nice.
Thanks @kauffdiggity for the trust. As far as the term length, it is as follows:
As this is an interim position, the duration of the position shall last until any of the following conditions are met:
-The to-be-formed foundation is incorporated;
-Validator nodes are live and the community can choose to elect a new Chair or reaffirm Dave McCoy's position;
-Another proposal is passed to replace Dave McCoy with another elected representative; or
-Dave McCoy releases a public statement via a post on the HIVE blockchain expressing a desire to abdicate the position.
I never thought this great game will end like this.
Clearly the SPS DAO it's been the worst decision by Matt and Aggy, even made with good intentions. Now it is devouring itself while dragging the game to the graveyard. Oh well.
It was a really good game, fwiw.
Yes, and the worst part is, we knew. It was obvious a DAO would break the economics the same way it keeps happening around the world...
Really corageous downvotes, thank you.
I downvoted your remark because it is incoherent.
Given that if the corporate was the issuer and controller of SPS it would have potential serious legal problems in the litigation happy USA, what would you suggest we do?
We can scrap SPS and make a conversion to ingame assets/currencies. There are 1000 ways to do that and kill a project that clearly has gone south, there is no shame on failures here, we are in crypto, for Pete's sake.
Do you really think is a good idea with a shitty market cap, no value, no exchanges, zero recognition, start to play "Offshore Foundation" like if we are Consensys or some other Billion market cap org?
Or is just to keep doing what it has been doing the last year, which is slowly milking the remaining value of the SPS treasury and put a very selected, carefully controlled group of player whales in control to drain both the assets and the value of the token out from the rest of the ecosystem?
Oh, and you can downvote this too. I don't downvote a post when I don't agree, mind you. But everybody can do what they want of course.
At least you have answered, it shows you care a little about the game instead all those "community leaders" which just post to suggest new ways to skim a little more money out of the DAO.
Hi renovatio, Can't understand why we should kill sps or the game, nor do I see how you could argue that it is failing, but if you have any points to support your view I would give them a fair read.
The reason for the foundation is that a dao lacks any way to interact with the world and a foundation solves that problem.
I only know a few of the whales but it seems fairly clear they are not a homeogenous group and there is a lot of healthy debate going on.
This proposal does not take any funds out of the dao....
I don't know you or your hive history but I thought the whole point of upvoting and downvoting was to express support or the lack thereof to posts and comments?
I love Splinterlands Ranked and play every day. Never played you though 😀
I upvoted your comment as you at least started to converse.
Nvm, I'm pretty frustrated right now, as the 95% of the "normal" players in the game. Is not even about the tokens price, which don't help at all, but about everything that has been going on this last year in Splinterlands. Too many things to detail, to be honest. I'm just tired.
You describe a current climate very different of what I have experienced. For Pete's sake, we have even been asked to FUND the core team to make the next expansion. This is bonkers. Splinterlands devs have earned Millions of dollars (Millions as in Tens of Millions of dollars) in the last few years and now they are behaving like if they are an Alpha Seed round bootscrapping a new project. Meanwhile, the vast majority of whales have been dumping in the market in the hundreds of thousand of dollars, which is understandable as they have made between a 1000% and a 3500% of their initial purchase. Meanwhile , they posts are about "Welcome to the family" and "look there has been 40,000 SPS burned" and "Hey let's create another promo, pay for it as I generate enough vouchers per hour to buy 20 for free" etc. etc.
As I tell you, all the picture is insane. I'm not even proofing what I'm writing, I'm just tired of this sh*t but let me assure that in a real life convo over a beer I could be listing problems and red flags for two hours straight.
At this point I'm just playing by inertia in Standard, with zero hopes, targets or fun.
Not a good sign. Again, nevermind and ty for the civil discussion.
Most companies have a pretty simple job. They do things for income that they then keep or use to grow the business. And most companies fail long before 6 years. Matt is trying to run a company, manage a separate asset economy, and build up a DAO to be bigger and more well funded than the company. And after 6 years steemmonsters is still here. That in itself is incredibly impressive.
They did have a massive windfall with CL and the 5 person company founded by two people who've never run a business made a classic business mistake. They got excited by their success and over-hired thinking the success would only get bigger. Then they had to figure out how to get 150 people up to speed and then run a 150 person company in the middle of an economic and crypto downturn. Many businesses that experience major sudden growth end up failing shortly after for making these same mistakes. Steemmonsters is still here but didn't come out unscathed.
Instead of building up company coffers, Matt/aggy decided to bet that if they could get the DAO to be stronger, it would help the token, and that would in turn help the company by bringing in new players who want the token. So they sold nodes and rift watcher packs as DAO revenue and token burning. They also gave half their (main) rebellion revenue to the DAO.
There's not a lot of case studies, if any, for how to do what they're doing. Looking back, they probably should have kept more revenue but they gave it away. And now, they are feeling it and they are going to have to go ask for some of it back to fund the company. Remember the company spent their resources to build the DAO, and literally every dime the DAO has is based on work the company did to fund it instead of funding themselves. They misjudged it and they are going to need some of that money they gave away back. That is not insane to me. It's sort of incredible that the company made it this far at all or that the DAO exists at all. Because it wouldn't if they failed.
And I'm not sure why you're upset about #welcometothefamily. There's some implication here that you might think of whales as one group that all move together? If one is selling, then another one buying is somehow disingenuous? Is there one (or more) account that is dumping hundreds of thousands secretly while buying a card here or there publicly? If so please tell me who.
I mean, I'm watching whales like cryptoeater and bravetofu load up. Bravetofu buys cards and SPS constantly while selling nothing. Cryptoeater is more complicated because he sells cards here and there and has always bought accounts of people who need quick liquidity and sold them off but he also has a market place which is burning all the DEC they receive from fees. He opened a whole meme coin that burns SPS and recently increased his stake to 37 million SPS. I haven't seen vugtis sell anything but the airdrop cards but I always see him buying more cards. Those are the three biggest whales in the game.
https://peakmonsters.com/@vugtis/explorer
https://peakmonsters.com/@bravetofu/explorer
https://peakmonsters.com/@cryptoeater/explorer
Don't get me wrong, there's plenty that sucks about this whole situation but I'm just not seeing what you're seeing.
Thanks for the detailed answer. Whales usually don't concentrate around a single account. At the end of the day, anyone can see volume, cards sold, cards bought, sps sold and bought.
The charts tell a reality that no narrative can change. The dumping on the game in the last 12 months has been massive. It is what it is. "Hey but XX is buying". Right. SPS 20 cents to sub 1 cent. Someone must be selling? Lands from $500 to $40. Cards, same. A -300% easy. "Well the biggest whales are buying" - That is the good ol' Power Law and doesn't help a dime. At least, this is my opinion. Numbers over narrative.
I quoted the "welcome to the family meme" because it may lead to think that there is a healthy market out there full of optimist happy people forking $500 every other day on a card. There is not. And again is not opinion, the numbers are there.
About the Matt and Aggy company funds mismanagement I know the story :-) I have seen a company with 6 guys in Zug skyrocket to 25, with a monthly salary of 8K each, all the way down to 2 guys owning three months of rent of the place. That is crypto, it is fine.
But the solution to that is not to muddle with DAO anymore. Is getting scissors, cutting, simplifying and starting from scratch. We are in June already, still waiting for that "big PR push" promised.
5 guys.
Servers.
Daily posts.
incentives for gamers.
PR.
Hustling
They have sold MILLIONS in cards. That is the hardest part ffs. Oh and powercreeping doesn't solve anything. They need sinks, like Lands, Conflicts. Maybe a massive format, a "MTG Commander" in which you need to make a deck of 100 cards and have them locked for a season to play daily combats.
I don't know, I'm not even thinking deeply, just writing fast, I got to go to work.
Anyway. Thanks for the convo.
First, its not down an easy 300%. 100% down brings price to zero. (sorry, pet peeve)
Second, charts don't tell you everything. They tell you where price is and where its been. There's still a human story in the middle. Yes, people are selling. Lots of people have left the game and the numbers are way down. But lots of us are still here, still excited, still buying, and still talking about our experiences. Should we stop doing that because other people sold and left the game? Should we stop talking about what we like until the optimism in others reappears? Are we only allowed to talk about it publicly if prices are currently going up? I don't get it. If I pick up a card I've wanted for 3 years I'm going to go tell people who give a crap that I did that. And most of that means social media. And if I'm on social media anyway, why not use it to build some buzz and build some more optimism and excitement about the thing I'm optimistic and excited about?
Do you think the sales are fake? I can tell you I flip through the market history several times per day. I often see the sales in the market history before I ever see them on twitter. Is it that you don't think the people who are buying are happy optimists? I mean, I have my misgivings about the game but if I'm putting money in to buy something I want, I'm at least somewhat happy and optimistic. Is it that everyone needs to be happy and optimistic for any of us to be allowed to show that we are?
Maybe you think the salty people aren't well represented enough so the happy people should quiet down? If so I can assure you that many the angry people who sold said plenty on their way out and are still out there talking to anyone who will listen.
Maybe you just don't think there really are big sales often? There actually is a pretty healthy market that does about $10k in sales per day. There usually are at least a few $500+ buys in there too. Not every other day but every day. A quick look through the market right now and I find this within the last 2 hours.
and a quick look through twitter and
and just for kicks, lets look at his account since he's made a few welcome to the family posts recently.
Multiple purchases for over $100 each including a $500 and a $1250 purchase over the last two weeks. No sales and no transfers out of the account. That's all real. I didn't cherry pick this. I literally just opened the explorer and scrolled back for 20 seconds. This person gave a shit about this game enough that he just dropped $1250 on a card and now he wants to talk about it. Thats a happy and optimistic person in the market dropping about $355 on cards every other day if you average it out. And it took me 20 seconds to find him. Or am I supposed to believe this person isn't real because the chart is down so it's supposedly a fact that he's not doing this?
Of course the other side of that is that someone else decided to sell that card and is free to go tell everyone why he sold it. Doesn't change the fact that this dude bought it and is happy.
I can tell you I buy cards all the time. Currently I'm building up my beta/untamed collection. I've even posted on twitter about a few of the purchases I've made. Im not misleading anyone. I'm telling people what I did. Nothing more and nothing less.
And what does it mean the team shouldn't muddle with the DAO anymore?
If you've been here and you know the story you'll know that the DAO is the thing they are building. Matt has said many times over the years that he's not here just to build a game, he's here to build the first fully decentralized game that is owned by the players. That's what drives him. Are they making mistakes? Tons of them. But if you're buying any assets in this game, you should understand that you're investing in someone else's vision. In this case the vision is the DAO.
Clearly we have different opinions but I just don't understand saying people are somehow doing something wrong or misleading by publicly talking about what they are actually doing.
Anyway, thanks for talking about it. We probably aren't going to see eye to eye on this one 😂
Lots of topics to argue here. I'm not a keyboard warrior. I myself buy cards (currently to support my conflicts and to fill up levels etc)
But I meant something else with purchases. Again, the market shows what it shows, the rest are just words.
I will be around anyway. The game is good.
Maybe you should swing by the spl discord sometime?
You can chat with like minded people and, thanks to the recent retiremenmt of the mavho, it is a surprisngly positive and salt free space in which a wide range of views are expressed....
ok ty.
Sorry but to say you "cant see how you could argue it is failing" is a joke right?
By every measurable metric it is losing value. Hell I stopped playing months ago because its also boring as hell now.
The only thing that has happened for the last few years was an oversupply of unnecessary crap to line the pockets of the blokes who made the game.
Hey maybe another promo will fix it right?
If you think Splinterlands is a boring game, you should absolutely consider selling your stuff and finding something you find more fun.
Maybe marvel snap would be more your thing? You can buy packs for up to 80 bucks and own precisely nothing!
It is a simple matter of fact that A LOT has happened in
Splinterlands over the last three years and the new direction it is taking is clear to see for those that are following events closely.
I can understand people being frustrated with falling values, and I and many others share that pain.
@davemccoy has his heart in the right place and since he is even willing to work without compensation, this is a no brainer Proposal. https://peakmonsters.com/treasurers is enough evidence that the community trusts him.
agree dont know many others or really any that could fit with out people fighting about it and i doubt ppl will fight about dave doing it.
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Just for clarity - I would assume this proposal was put forward by @davemccoy?
Please post the bylaws of SPS Foundation Ltd.
No it wasn't put forward by me. It was put forward by @clayboyn who runs the Splinterlands DAO.
So where are the bylaws of the company?
I may seem overly sensitive to this, but its because I do regulatory work in offshore legal structures. I've had to investigate, provide data for regulatory bodies and provide attestations for courts on this. Only been involved in providing data on a single crypto project directly. Note these activities are not core of what I do. I generally assist with the compliance work. There is no foundation law in my jurisdiction as it is deemed to be too high risk and I don't have any experience in DAOs.
I would support the investigation of options for structures though. Moving forward with the change and how that is done should be done on a separate proposal.
Also to add ease of any detractors, you should be aware that people are generally not comfortable is made up names for individuals on organizations. Registers contains the officers of should be made readily available (i.e. Legal name and place of residence which is verified)
I think this is exactly what will happen:
Also on the bylaws, maybe Clay can get you in touch with the law firm. This proposal is simply a first step so that there is someone that has the authority of the SPS DAO to do what is necessary to establish a new foundation.
I appreciate you offering to help and being involved too @senarg, that's really nice!
I expect Clay to actually have the bylaws. The legal firm is most likely Collyer Law as it shares the same registered address of the company. They would not supply the bylaws (or should not).
well....as far as I know only great things come to those who sacrifice their valuable time for others, ABOSOLUTETLY WOULD LOVE TO SEE Mr. DAVE McCoy become Chair of the SPS DAO. You got F.I.R.E. GUILD SQUAD's VOTE 👍
I don't need to read anything to give my vote to @davemccoy
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How can we boost sps utility when the team keeps on creating other tokens and when it becomes oversupply they are focusing their time towards that token. Why not stop creating tokens imagine over the years the team created vouchers, dec-b, glint rather than focusing only on DEC and SPS. Imagine if the discount token would have been SPS rather than voucher.
While I can't think of a better candidate, is this needed? What our the downsides to leaving it be and how well does this solve those?
Hi there, yes, this is needed because the dao has no legal standing and needs the foundation in order to be able to interact with the world.
gastemos el millon que queda en la DAO para demandar a la DIRECTIVA DE SPLINTERLANDS XD
Thank you for participating in SPS DAO Governance @sps.dao!
You can place or monitor SPS Stake Weighted votes for and against this proposal at the link below:
Link to this Pre-Proposal
Updated At: 2024-06-18 15:51 UTC
@davemccoy
The issue is there was no discussion with the community first about any of this.
The DAO is the worst bit of the game. The sooner smaller players realise they dont have a real say the better, only an illusion of one. This proposal is a perfect example of this.
Here have a vote, while we decide what your voting on in advance.
I wish you could see that your point of view has tainted your objectivity, but I realize that you are going to perceive everything with a negative spin.
The facts are not anywhere near what you think they are, nor is the position anything more than a placeholder position til the DAO gets the new SPS Foundation formed. The DAO needs someone to be elected to actually sign a contract with an attorney and to be the officer of record for the initial documents.
I was approached by @clayboyn to be that initial person simply because I had the most votes in the SPS treasurer elections. And once the new SPS Foundation is formed then the job will end and we will elect all positions necessary to move forward and GOVERN with an entirely NEW SET OF VOTES.
Your vendetta against the system has led you to see negativity in every place you can dream it up @fivemishras. To me this is really sad that people think this way and are unable to see the facts even when they are right in front of their face. I don't blame you because I don't think you are doing it out of malice, but its sad nonetheless.
The bottom line is this is a very short term interim position with a very specific purpose. Its a formality that has to happen if we want to have a responsive organization going forward. I didn't seek the job, nor will I get paid anything for it. There were no decisions in advance of the outcome, and the discussion you seek is happening as we speak. The real issue is that you seem to think differently than 80+% of the votes cast.
I wish you would understand that all those people that cast green checks don't want anything negative either. They just disagree with your conclusions and they are pretty smart people too. So I wish you would go through the list and give them some credit for their votes as well, instead simply dismissing all the green checks as people that are either 1) colluding together or 2) simply stupid. They are neither and you insult them with this view.
That’s a long reply @davemccoy. Doesn’t change the fact that this proposal sets out how the dao will be run and no public discussion was done.
I’ve no objection to it being you.
I’ve no objection to the proposal itself
I’ve an issue with the lack of discussion.
I don’t like the DAO your correct on that one. IMO While ever sps holders are not included and silenced your going to get people calling the DAO out for it.
For the record, this proposal and position doesn't in any way set out how the DAO is to be run. You are thinking we are way ahead of where we are.
Once an attorney is engaged, then they will draft up articles of incorporation. At that point, the DAO will vote to either agree or not, that decision is NOT up to the Chair of the SPS DAO.
Once the DAO has approved of those forming documents, then the corporation will be set up. Then the Chair of the SPS DAO will be replaced by a whole new set of people in multiple positions subject to a full discussion and vote of the community.
And also for the record, I don't take objections personally so no worries :)
Ok, after reading quite a lot and having several exchanges with some players, I have changed my mind. I think this is for the better.
I will vote yes on this proposal. I think we can save this boat.
Vonak
Lmao delusional. Try not to take this as a criticism but more as me feeling sorry that these people convinced you into thing there is any future in this game. I'll give you the advice someone gave me 3 years ago "get out while you can"