Dash foundation - Masternodes to elect board of directors?

Would you like Masternodes to elect the next foundation board of directors?

  • Yes

    Votes: 2 25.0%
  • No

    Votes: 6 75.0%

  • Total voters
    8

halso

Active Member
Apr 27, 2016
439
237
113
Sydney, Australia
Benefits of a MN elected board of directors
  • It will showcase Dash's governance technology.

  • It will raise the profile of Dash and the foundation.

  • The foundation will better represent those with a direct financial interest in Dash.

  • It will be the catalyst to attract new directors outside of the core team (I.e. well known experts from the field of cryptography, business, finance, or economics). Note - we would still expect core team members to make up the majority of the board.
Possible disadvantage
  • Existing members may feel disenfranchised that they no longer have the ability to elect the foundation board.
Possible features of elected foundation

The exact details of how the election would work would require further discussion, but possible features include:
  • 2 year terms

  • Staggered terms, 5 directors elected each year.

  • For first election, the 5 candidates with highest net Yes votes serve 2 years, and the other 5 serving 1 year.
Legal question

To ensure the election complies with the legal requirement that the board is elected by natural persons. The roles and responsibilities of existing foundation members may need to be changed. A new duty may be created stipulating that members are required to vote for a board of directors that reflects the wishes of a popular MN vote.

Note

I have no interest in running for an elected board position, nor do i know anyone that is. My sole motivation for posting this proposal is solely to advance Dash as the premier crypto when it comes to governance.
 
Last edited:
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flare

Grizzled Member
May 18, 2014
2,286
2,404
1,183
Germany
Possible disadvantage
  • Existing members may feel disenfranchised that they no longer have the ability to elect the foundation board.
I am not fully into US foundation law (501(c)(3) organization) but as far as i know the foundation board of directors can only be elected by foundation members.

So the proposal you are thinking about is likely to break US law and the Dash foundation will lose it's foundation status - and so this risk should be added to your disadvantages list.
 
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halso

Active Member
Apr 27, 2016
439
237
113
Sydney, Australia
I am not fully into US foundation law (Section 501(c)(3)) but as far as i know the foundation board of directors can only be elected by foundation members.

So the proposal you are thinking about is likely to break US law and the foundation will lose it's foundation status - and so this risk should be added to your disadvantages list.
Hi Flare, thanks for your feedback, i amended the original post to include reference to the legal question. Under this proposal, natural persons will still be responsible for electing the board of directors. But they would be acting as delegates. Similar to the US system of the presidential electoral colleges. Delegate or proxy voting is common in the US, both in corporate and electoral law.

Ultimately it is a legal question. But if it is legal, would you support the proposal?
 

halso

Active Member
Apr 27, 2016
439
237
113
Sydney, Australia
great idea
we might need @fernando for this though
I know @fernando has his reservations.

It seems like an obvious course of action though as it ticks a number of boxes:

1. The foundation is due for a new board anyway.
2. A MN election would generate a lot of press.
3. It would leverage the governance tech we already have.
4. It would be good showpiece before evo is released.
5. We could get some interesting candidates.
 
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Poltergeist

New Member
Aug 8, 2016
27
27
13
51
2. A MN election would generate a lot of press.
3. It would leverage the governance tech we already have.
4. It would be good showpiece before evo is released.
Exactly my point. DAO in action. For Real.
 

tungfa

Grizzled Member
Foundation Member
Masternode Owner/Operator
Apr 9, 2014
8,898
6,745
1,283
I know @fernando has his reservations.

It seems like an obvious course of action though as it ticks a number of boxes:

1. The foundation is due for a new board anyway.
2. A MN election would generate a lot of press.
3. It would leverage the governance tech we already have.
4. It would be good showpiece before evo is released.
5. We could get some interesting candidates.
i am not talking about him having reservations
he will know how legit a MN vote would be for US law or not
 

Naruto

Member
Dec 26, 2014
176
89
88
Actually what is the elected representatives of the MN for? Just for publicity? Marketing?[emoji848]


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Naruto

Member
Dec 26, 2014
176
89
88
Good question. A constitution stating the roles and responsibilities would be required.
So they doesn't have to be a member of the board of director. They could be a member of an advisory group. Or something like that.


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demo

Well-known Member
Apr 23, 2016
3,113
263
153
Dash Address
XnpT2YQaYpyh7F9twM6EtDMn1TCDCEEgNX
could you please add the "other" option in this poll?

My vote is conditional and triple. Here is my vote:

<vote history>
Would you like Masternodes to elect the next foundation board of directors?
Yes
2 vote(s) 33.3%
No 4 vote(s) 66.7%
abstain: 5,885 out of 5,891 registered forum users
unrecorded votes:
demo's conditional triple vote = [ [ my answer (conditional)="IF there is a foundation constitution AND this constitution is decided-voted by the masternodes for every article of it THEN I vote yes ELSE I vote no ; (reasoning: I vote like that because having voted the members of the foundation thus turn their existance legitimate without previously vote for a constitution, this is an enormous concentration of power) " ],[ the selection process I vote to be applied in this poll= "simple majority 50%+1" ],[ the minimum participation I vote is required in order for a decision to be made="10%" ] ];
</vote history>
 
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TroyDASH

Well-known Member
Jul 31, 2015
1,254
797
183
Speaking of the board of directors for the dash foundation, (to @fernando, or anyone who knows) who are the current board members? Are the Dash foundation's by-laws available to the public?
 
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fernando

Powered by Dash
Foundation Member
May 9, 2014
1,527
2,059
283
Sorry, I completely missed this thread :eek:

On the masternodes idea, we have studied several variations of it and we haven't arrived to a solution that doesn't break the law yet. For the foundation it is/will be very important to keep the tax exempt status, so we really need to comply with the law and it requires to have a list of members, who are the only ones that can vote... Anyway, we keep looking into it.

As it has been said before, we'll have elections very soon, so maybe the new board will come up with something (this election will be by members).

@TroyDASH you have members, bylaws and minutes at the foundation's website: www.dashfoundation.io