This draft has been approved by all members of the SPS Foundation board unanimously.
Context
The purpose of this proposal is to see if the SPS DAO would like to participate in HIVE governance voting or not. It's been brought to my attention that everyone may not fully understand that we previously agreed to delegate our HIVE governance voting power to the @steemmonsters account and what that means.
HIVE governance voting is different from curation voting. These are two very different and distinct things. To make sure voters can make an informed decision I'll break down what these two types of voting are now:
Curation voting is how an account can use its HIVE Power to upvote content on the HIVE platform and in return the account will receive curation rewards. This provides an APR on the DAO's HIVE investment. This proposal will not in any way impact the current curation settings that we have to follow the Splinterlands curation trail.
Governance voting on HIVE relates to both Witness voting and DHF proposal support and does not directly relate to earning any kind of APR for our HIVE stake.
Witnesses are the block producers for the HIVE blockchain and HIVE stake can be used to support specific witnesses that we trust to uphold the integrity of the HIVE blockchain. Witness rewards are based on a tiered ranking system. The top 20 witnesses are the primary block producers, earning the highest amount of rewards, while the 21st and 22nd witness serve as backups for the top 20 and rewards are reduced the lower in ranking a witness is. You can find a breakdown of witness earnings here.
DHF proposals are requests for funding from HIVE's Decentralized Hive Fund (essentially HIVE's DAO) that are meant to support projects that the HIVE community finds valuable. For example, Splinterlands previously ran a DHF proposal to request support for a marketing budget and received approximately $400,000 in funding. DHF proposals must maintain a level of stake-weighted HIVE Power support greater than the current threshold set by the Return Proposal in order to receive funding.
Currently the @sps.dao account's governance voting is proxied to the @steemmonsters account. This in turn amplifies the power of the @steemmonsters account's governance voting decisions.
The @steemmonsters account is owned and managed by the Splinterlands team. To be completely clear, this means that the SPS DAO is currently entrusting the Splinterlands team to manage how its HIVE Power is being used to influence HIVE governance voting decisions.
Ultimately this proposal aims to ensure that all members of the DAO understand explicitly what the governance voting proxy means and that the DAO collectively has informed consent on the decision to proxy our HIVE governance voting to the @steemmonsters account.
Proposal
If this proposal passes, the SPS DAO will revoke its HIVE governance voting proxy from the steemmonsters account and abstain from any HIVE governance voting decisions unless a subsequent proposal is passed to change this decision.
If this proposal fails, then the previous proposal will stand and the SPS DAO will continue to entrust the @steemmonsters account to manage its HIVE governance decisions.
Thanks for your time and consideration on this issue.