Name
Bristol Blockchain Society
Wallet Address or ENS
bristolblockchain.eth | 0x43d3938ebd74106e2d177f9a304c1e9f914f2b52
Tally Profile URL: Bristol Blockchain Society
What area are you most interested in contributing to? choose up to two tags:
- DeFi development on Arbitrum
- Improving Governance participation
Introduction
Bristol Blockchain Society, founded in November 2022, is a non-profit organization based at the University of Bristol, a top 5 UK research university. We have around 50 active members from various academic backgrounds, including computer science, law, economics, engineering, and PhD students. We have two primary arms: Education and Governance. As one of the few active UK blockchain societies, we are dedicated to contributing to the blockchain space and promoting education in the field.
We are currently involved in the governance of AAVE and dYdX, contributing to these projects for free, with no voting power or monetary compensation, driven purely by our passion for the blockchain space and the desire to contribute positively to its growth. Our vision for the future of the Arbitrum ecosystem and its governance includes improving various aspects of the protocol, raising viewpoints from underrepresented groups, and actively participating in the decision-making process. Our team’s diverse expertise and commitment to the advancement of blockchain technology make us an ideal choice for Arbitrum users seeking knowledgeable and dedicated delegates.
By delegating even a small amount to Bristol Blockchain Society, you are not only helping increase decentralisation within the Arbitrum ecosystem, but also empowering our passionate team to have a voice in the governance process.
Your support will ensure that our efforts are acknowledged, and our contributions can make a positive impact on the ecosystem. We appreciate any support you can provide, as it demonstrates that our work is valued and our voices are heard, even without the backing of voting power or monetary incentives.
Please share your stance on overall goals for the DAO:
eg — how aggressive should we be in liquidity mining, what is the goal of the DAO?
In our opinion, the overall goals of the DAO should be to foster innovation, promote decentralisation, and create a sustainable and inclusive ecosystem for all stakeholders.
The DAO’s broad objectives are:
1. Sustainable Growth: A DAO should strive for sustainable growth that is advantageous to its community and ecosystem. This consists of finding a fine balance between rapid growth and ensuring long-term stability.
2. Decentralisation and inclusivity: Maintaining decentralisation and ensuring that the decision-making process is inclusive so that all members can have a say in the organization’s direction. These are important objectives of a DAO.
3. Transparency: Establishing trust among DAO members and stakeholders requires transparency. The DAO should provide clear and accessible information about its activities, governance, and financials.
4. Adaptability: The DAO should be agile and adaptable, able to respond to changing market conditions and technological advancements. This means being open to innovation and constantly evaluating new opportunities.
Regarding liquidity mining, the DAO should be cautious about being overly aggressive. While it can provide short-term benefits by attracting new participants, it can also lead to inflated token prices and a lack of sustainability in the long run. The goal should be to strike a balance that provides incentives for participation while maintaining long-term stability and value creation.
Please share your stance on issues that were raised previously, in other communities, as described below:
Sample Voting Issue 1:
Prompts to Answer:
As the Bristol Blockchain Society, we stand:
1. How would you vote?
Against - While we appreciate the concept of using Uniswap’s treasury to generate fees, we cannot support the proposal in its current form due to the concerns outlined below. We believe changes are necessary for a more balanced and inclusive program.
2. What amendments would you make to the proposal if any?:
We are concerned about the centralisation of power within Flipside, as they are the contracted vendor, manager of the funds, and hold significant influence on both the allocation and oversight committees. This centralisation should be addressed.
While we recognize the value of having a CEA in this proposal, we question whether it should be solely represented by Flipside, especially considering the concerns mentioned above.
We suggest that, in the best interest of the community, Flipside should consider including other parties (particularly competitors) to foster a more competitive and diverse environment. Reducing Flipside’s voting power to 2/7 or even 1/7 would help prevent undue influence and ensure more balanced decision-making.
We acknowledge that the Flipside team has been a valuable contributor across DeFi and DAOs. However, it is crucial to maintain decentralisation and diversity to truly serve the best interests of the community.
3. How would you approach the tradeoff between centralization of authority and the ability to get things done?
In approaching the tradeoff between centralisation of authority and the ability to get things done, we would prioritize decentralisation and inclusiveness while ensuring efficiency in decision-making. A balance can be achieved by diversifying representation, reducing the concentration of power, and encouraging collaboration among various stakeholders.
Sample Voting Issue 2:
In this situation, we would choose the option of Full Reimbursement. Our reasoning for this choice is based on the following factors:
User Protection: A primary objective of any protocol should be the protection and well-being of its users. Providing full reimbursement in the event of an exploit demonstrates our commitment to safeguarding users’ assets and ensuring their trust in the platform. This approach fosters a sense of security and confidence among the user base, which is vital for the long-term success and growth of the protocol.
Responsibility and Accountability: By opting for full reimbursement, we take responsibility for any security breaches or vulnerabilities within the protocol, emphasizing the importance of accountability within the ecosystem. This decision sends a strong message to the community that we will stand by our users and strive to rectify any adverse situations that may arise. To minimize risks, a protocol can invest in buying insurance, which can provide additional layers of protection for the platform and its users.
Long-term Sustainability: It’s true that a DAO reimbursement may cause the protocol to wind down; however, it’s a commitment to the users that we prioritize their well-being and security above all else.
In conclusion, a full reimbursement is a user-centric approach that prioritizes user protection and demonstrates our commitment to ensuring the best possible experience for our community. By taking responsibility for any security breaches or vulnerabilities and standing by our users, we can maintain and enhance our reputation and credibility, fostering long-term sustainability and growth within the DeFi ecosystem.
Languages we speak and write: English, additionally, our team also speaks Thai, Hindi, Spanish, Arabic, Greek, Turkish, Malay
Disclosure of Conflict(s) of Interest:
No conflicts of interest
The Bristol Blockchain Society (BBS), is a non-profit organization dedicated to promoting knowledge and understanding of blockchain technology. We would like to affirm that our primary goal is to operate in the best interests of advancing the Arbitrum ecosystem. At the moment, we do not hold any voting power within the ecosystem but are still actively contributing to projects such as Aave and dYdX without any monetary compensation or voting power.
Our participation in these projects is purely driven by our passion for the blockchain space and the desire to contribute positively to its growth. As a non-profit organization, our intentions are not driven by personal gains or conflicts of interest, ensuring that our decisions and actions will always prioritize the best interests of the Arbitrum ecosystem and its community
Contact Us:
blockchainbristol@gmail.com