At 10:00 pm on July 1st, Beijing time, the 14th video conference of EMAC (EOS Mandarin Arbitration Community) was held online.
The arbitrator candidate Zhang Zhen submitted the proposal of ECAF-0002 to “prepare the establishment of the EOS Mandarin Arbitration Foundation”.
The main contents of the proposal include: the purpose, vision and principles of the establishment of the foundation; the specific process of the establishment of the foundation, including the name of the foundation, the place of registration, the choice of website domain name, the principle of donation, the person in charge, the budget, the audit, the establishment of the fund account and details such as the charter.
The discussion on the topic was pre-discussed in the “Mandarin Governance WeChat Group”. At this video conference, the participants discussed the relevant issues officially.
Arbitrator candidate Lawrence said:
If the foundation is established, it will require a lot of details to be discussed and implemented. In addition, the name of the foundation may choose to use “the arbitration fund” and use the word “arbitration” to directly point the question.
Candidate Stephan asked:
Incentives in the foundation, how to quantify the work and then issue rewards?
The sponsor Zhang Zhen responded to the question above:
After the establishment, it is necessary for all members of the foundation to discuss and decide together.
Candidate Yao Siqi asked:
What is the starting capital of the Foundation’s plan, so that after the start-up funds are injected, the foundation can operate its own blood for the future, and does not need to continue to inject funds? Is there any planning for this?
Candidates Lawrence, Tian Kang, and Victor asked questions and discussed the sources of funds, the use of funds, the way of donation, the relationship between donation amount and voting rights.
Michael from EOS Pacific was participating in the node voting consensus conference in Hangzhou during this video conference and shared some of the gains from attending the conference.
Michael first raised two basic questions:
We are talking about the establishment of a foundation. So what is the purpose of the foundation?
Just today, I attended the conference held by the FOS.TOP. At the meeting, people discussed the issue of EOS voting. Mr. Gong from FOS.TOP raised the following questions: The current threshold of BP is low, the BP level is uneven. Is it necessary to set some thresholds for BP’s qualifications, such as the number of developers and the number of operations? In addition, in order to more transparently motivate the community to do things for EOS, we can choose to set up a foundation to do related work. A thrid question is how to change the current chaotic situation of voting.
Michael represents EOS Pacific to participate in the voting consensus meeting, the right one is Jem
Michael gave a speech at the conference
Jem who participated in the meeting responded to the three questions above: These are wrong questions. At present, the mainnet is online for only 17 days. What can EOS do? EOS now just needs one feature, which is to vote. Moreover, the current voting rate is only 20%, and the voting function is not perfect. The foundation of the system is still developing. It is meaningless to discuss these issues now. In addition, we need to be mentally prepared: at least half a year’s time for the mainnet to be stable and mature.
Michael quoted Jem’s answer at the meeting and returned to the discussion about the establishment of the ECAF Foundation: How will the future ECAF go? What role does ECAF play today? These are not known. The community was established only a week or two, and the basic framework of the community is still under construction. Although EOS New York has called for the establishment of a regional arbitration institution, there is currently no consensus.
If we are raising funds from BPs in the absence of EMAF details, how will BPs view ECAF and how will the outside world view EMAC?
So as a node, my point is that now is not the best time to set up a foundation. After EMAC matures, we will need to set up a foundation.
When talking about the development direction of EMAC, Michael said: EMAC is a community of governance enthusiasts. The progress we are doing now will be very slow, not a hundred meters sprint, but a marathon run. What we need to do is to expand EMAC, to influence more people to get involved.
After discussing the contents of the proposal, EMAC finally reached an agreement and temporarily sealed the proposal №0002, waiting for the appropriate time to discuss it later.
The above content is organized according to the content of the video conference.