LikeCoin Governance Proposal | Voting Decisions on Proposals #17, #18

I've been thinking about what I can do as a validator lately, thinking that community proposals are something that has real impact, but most people don't care. In this case, the validator largely influences whether the proposal is passed or not. I have powers that can be exercised, but also have certain responsibilities. I should let the principal know what I am doing and what I will vote for. So every time there is a motion, I will briefly explain it, put forward my own ideas, and finally clearly state my voting decision.

Validators have the right to vote on proposals on behalf of delegators, acting much like members of the Legislative Council. But likecoin implements liquid democracy. If you entrust likecoin to me, but disagree with my decision, you can leave a message and tell me your thoughts, or you can vote by yourself. You can ask me about the voting method, or you can read Daisy's teaching article. Appreciate the citizens of the Republic of Citizens AKA All Likers can now directly vote for governance proposals! . If you really deny me, you can also drag the transfer to other verifiers.

If the content is unclear, you can ask me. It is also encouraged to look at the related works, the way of the likecoin governance proposal, and the thinking of liquid democracy.

#17 Start the cross-chain protocol

Proposal : Enable IBC send and receive

Introduction : After likecoin is upgraded to the Fotan version, in addition to the ISCN function, another important function is the IBC function in the Cosmos SDK. The function of IBC is to allow the blockchains using the Cosmos ecosystem to communicate with each other, conduct transactions and convert cryptocurrency. In this way, when you want to exchange likecoins for other coins, you do not necessarily need to go through a centralized exchange. After the upgrade, because IBC is not opened, it is necessary to propose parameter modification. The motion was introduced on September 27, voting began on September 29, and ended on October 13. Now 73.45% voted Yes. Passed for sure. After this case is passed, likecoin will be able to enter the decentralized exchange in the Cosmos ecosystem.

Intention : Generally speaking, if the proposal is passed, it will increase the liquidity and services of likecoin, which is very beneficial to likecoin. Specifically:

• Decentralized currency exchange: If this proposal is established, likecoin will have the ability to join the decentralized exchange in the Cosmos ecosystem, which can increase the liquidity of likecoin. In addition to centralized exchanges, likecoin can also be exchanged in decentralized exchanges.
• Liquidity pool pledge to earn income: After joining a decentralized exchange, Likecoin can establish a liquidity pool for currency exchange. Everyone can participate in this liquidity pool, put their own coins in, and let others exchange coins. There is a handling fee for currency exchange, and the handling fee will be distributed to those who join the liquidity pool. This makes likecoin, in addition to commissioning, another way to earn income.

Decision : Yes

#18 Shorten the voting time for motions

Proposal : [Parameter Change] Change the voting period of governance proposals from 14 days to 7 days

Introduction: The original voting period for the Likecoin proposal was 14 days. Some members of the community suggested that, observing the situation of the past proposals, most of the voters had already voted in the past few days, and they almost met the requirement of passing. After Likecoin, the liquidity will increase. In order to allow the community to speed up the response to market demand and various events, it is proposed to change 14 days to 7 days. The mortgage period is maintained for 14 days. (Some references for the community voting period: Osmosis 3 days, Juno 5 days, Bitsong will be changed to 4 days).

Intention :

• As for the experience of participating in the submission of motions several times in the past, indeed, I also feel that the motions have actually been discussed a lot before they are proposed. In the first few days after voting began, the community actually had enough votes to pass the bill. 14 days is actually a long time.
• I also agree with the reason for speeding up the response. Moreover, in terms of proposals, validators must take the responsibility of understanding and voting, so that the speed of proposal processing is accelerated. After likecoin joins the decentralized service, it must also speed up the adjustment, seize the opportunities for future development, and also speed up the speed of dealing with problems. The delegator should, in addition to the annual rate of return, consider the validator's participation in the proposal and the community. Choose your delegate well.
• 7 days is also significantly more than the voting time of some communities.
• Even if there is a problem, it can be changed back. And don't have to wait 14 days.

Decision : Yes

I'm John Shao, thank you for being here. If you want to know more about me and want to support me, please see this article !