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Details on the Election for Dash Investment Foundation Supervisors

Discussion in 'Official Announcements' started by tungfa, May 18, 2019.

  1. tungfa

    tungfa Administrator
    Dash Core Team Foundation Member Masternode Owner/Operator Moderator

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    [​IMG]

    https://blog.dash.org/details-on-the-election-for-dash-investment-foundation-supervisors-25766c55a1f

    We are happy to share more details regarding the upcoming election for the Dash Investment Foundation Supervisors. As recently announced, the elections are scheduled to start on May 30th and conclude June 23rd.

    For more details on the Dash Investment Foundation and the supervisors role, please refer to the "); background-size: 1px 1px; background-position: 0px calc(1em + 1px);">announcement post.

    Requirements for the Candidates
    The candidates to the supervisor position must meet certain requirements. These are not arbitrary and respond to legislation in the Cayman Islands or to the need to reduce KYC and compliance costs.

    • Of legal age.
    • Mental capacity.
    • Not a felon.
    • No conflict of interest with the position.
    • Not citizens of Iran, North Korea, Syria, Sudan or Cuba, and not in the list of Specially Designated Nationals (SDN) maintained by the US Department of the Treasury.
    • Not be a “politically exposed person” as defined in Cayman Islands AML regulation.
    • Not previously been bankrupt, or otherwise barred or disqualified from holding any corporate title or regulatory license/authorization.
    • Not have any legal proceedings pending as defendant wherein fraud, dishonesty, dishonorable conduct, or breach of law as relating to financial services is alleged.
    • Be willing to provide copies of identity and proof of residence documents within 10 days of a successful election (typically a national passport ID page, and a residential utility bill), certified as true copies and delivered in accordance with the Foundation’s requirements, and refreshed annually thereafter.
    Dash Watch will supervise the process
    As with the Trust Protectors election, Dash Watch will be the objective third-party auditor and will perform two key tasks:

    Candidates data gathering
    Dash Watch will compile the final list of candidates and will publish it by the beginning of the election. Anyone interested in becoming a candidate should reach out to them at [email protected] before end of day May 30th UTC.

    Vote count and results publication
    Dash Core Group is preparing a website where masternodes will be able to vote on the published list of candidates using the same software that was used for the Dash Trust Protectors election. The software is open source and is fully described "); background-size: 1px 1px; background-position: 0px calc(1em + 1px);">here.

    Dash Core Group and Dash Watch will receive the votes and publish the results once they have been tallied independently, immediately following the voting deadline.

    Approval voting
    In order to improve the quality of the selection of the Supervisors we have decided to use an approval voting system. This means that each masternode can vote yes or abstain on each of the eligible candidates. Because two supervisors had to be appointed at the outset, for the first election year there will only be four available positions. All six supervisors will be elected in future years. The four candidates with the highest approval will win the election. This is closer to how our governance system works and also ensures that, in a scenario of many candidates, the four selected are most widely supported and representative of network interests. In case any of the elected candidates fails to provide the documentation needed for the appointment, the next candidate with the most votes will cover his/her spot.

    Tx @fernando
     
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  2. Aniinl

    Aniinl New Member

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    I'm very excited about the DIF! I would still like to have more info on the role of the supervisors, though. Both for potential candidates to determine whether they are equipped to fulfill this role, and also for the MNO's to decide who they can trust most to carry out those roles.

    In his announcement, Ryan wrote:
    "Key organizational and operational decisions would be put to the supervisors for approval by the foundation’s directors. [...] The supervisors may consist of virtually anyone trusted by the network to carry out supervisory duties, [...]"

    Besides those two sentences, I haven't found any other details about those roles.

    Is there some indication on the expected time investment? As in - is this "a job" or is this something the candidates can do next to their day jobs? "Key organizational decisions" sounds to me like a virtual "board meeting" every now and then. On the other hand "key decisions" might require a lot of time in terms of research, conversations with stake holders, etc. to come to the right conclusions/decisions in the end.

    Also - do the candidates need to have a solid financial background, or is it more important to have a "Dash" background & loyalty, and evaluate decisions by how aligned they are with the Dash values and mission/vision?
     
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  3. tungfa

    tungfa Administrator
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  4. Aniinl

    Aniinl New Member

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    In addition to my questions above, I'm also wondering whether the supervisors can be legally held accountable, given that KYC is required?
     
  5. fernando

    fernando Powered by Dash
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    There is not much more about the role. Cayman Island foundations are a new legal figure and there is not much written about them. The role will be defined mostly by the elected supervisors and their willingness to get involved. As you hint, this position is like a board, definitely not a job. But yes, boards take time to do properly.

    Some financial background would be useful when evaluating the decisions brought up by the directors to the supervisors, but this is not a finance position. Probably anyone with some general business background can quickly learn the basics to be useful.
     
  6. Aniinl

    Aniinl New Member

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    Thank you, Fernando!
     
  7. tungfa

    tungfa Administrator
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    Hi everyone, the Dash Investment Foundation vote is live at https://difvote.dash.org until July 2nd 23:59 UTC. Dash Watch has created a candidate profile page at https://dashwatchbeta.org/elections?tab=candidates&election=DIF2019 , and will continue to update the page as more profiles are received. The participation tab will be updated daily to reflect the percentage of Masternodes that have voted.

    Dash Watch will be conducting video QA sessions with candidates next week, please submit questions you would like asked to Discord <@!367421571704553482>-Al or by emailing us at [email protected].

    [​IMG]
     
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  8. AgnewPickens

    AgnewPickens Moderator
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    As a voting delegate, how do I cast my votes? Am I asked to sign a message or do I have to login and register?
     
  9. tungfa

    tungfa Administrator
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