Musings on the Decentralized Hive Fund

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The Decentralized Hive Fund was built by @blocktrades on the Steem blockchain with little community discussion, and was funded with >= $50,000 by Steem Inc

With the exception of one proposal by PeakD that has been acquiring votes since October of 2019(and is advertised on one of the two places to check proposals) there are no proposals funded with out @blocktrades support.

For reference:

  • The return Proposal has 21,457,328.535 HP voting for it.
  • The next proposal to achieve funding(with @blocktrades support) has 17,571,943.687 HP and has been collecting votes since April 2020.
  • The next proposal to achieve funding(without @blocktrades support) has 15,433,304.105 HP and has been collecting votes for 1 month.

Top voters for Return Proposal

Below I've included all accounts voting for the return proposal with more than 10K HP

@blocktrades 7,598,556.211 HP + 550,072.433 HP (proxy)
@smooth 23.316 HP + 2,831,943.146 HP (proxy)
@encrypt3dbr0k3r 2,013,045.579 HP
@therealwolf 533,923.745 HP + 670,755.399 HP (proxy)

All accounts below this point don't have the same power as Blocktrades
If every account below this point were to stop supporting the return proposal, the next non-blocktrades-supported proposal would squeeze by with 23,000 HP.

@themarkymark 742,451.440 HP + 225,335.766 HP (proxy)
@neoxian 424,741.044 HP + 7,790.542 HP (proxy)
@eturnerx 123,688.417 HP + 171,645.712 HP (proxy)
@dcityrewards 278,479.567 HP
@steem.leo 20,731.432 HP + 231,108.556 HP (proxy)
@jrcornel 242,498.454 HP + 6,576.303 HP (proxy)
@shaka 100,379.508 HP + 86,801.854 HP (proxy)
@oliverschmid 145,316.372 HP + 25,915.188 HP (proxy)
@ausbitbank 78,732.513 HP + 90,452.852 HP (proxy)
@pfunk 145,758.237 HP + 9,574.202 HP (proxy)
@kennyskitchen 3,813.901 HP + 142,677.556 HP (proxy)
@stoodkev 134,388.205 HP + 3,130.173 HP (proxy)
@heimindanger 10,314.990 HP + 120,341.213 HP (proxy)
@d-pend 118,899.036 HP + 7,566.778 HP (proxy)
@justtryme90 113,819.617 HP + 10,743.309 HP (proxy)
@pouchon 122,002.508 HP
@xxxxxxxxxxxxxxxx 118,499.516 HP
@steevc 59,603.565 HP + 58,021.220 HP (proxy)
@reazuliqbal 7,835.403 HP + 103,512.533 HP (proxy)
@emrebeyler 94,938.803 HP + 14,315.964 HP (proxy)
@edicted 107,230.328 HP + 971.491 HP (proxy)
@holoz0r 21,066.111 HP + 86,244.904 HP (proxy)
@krnel 100,497.194 HP + 43.850 HP (proxy)
@ecoinstant 74,030.180 HP + 24,623.269 HP (proxy)
@timcliff 92,782.663 HP + 330.010 HP (proxy)
@howo 81,020.932 HP
@asgarth 80,985.413 HP
@isaria 77,652.429 HP + 395.730 HP (proxy) 76,894.981 HP
@liondani 69,167.075 HP + 21.336 HP (proxy)
@tobetada 69,023.809 HP
@jlsplatts 49,550.012 HP + 18,276.871 HP (proxy)
@meesterboom 61,961.748 HP + 3,682.619 HP (proxy)
@marki99 63,389.014 HP
@thebluewin 50,804.339 HP + 11,619.615 HP (proxy)
@forykw 55,762.129 HP + 262.479 HP (proxy)
@cryptospa 54,191.067 HP
@daltono 53,834.467 HP
@showerthoughts 0 HP + 53,828.851 HP (proxy)
@hope-on-fire 45,086.362 HP
@chronocrypto 44,879.632 HP
@prameshtyagi 611.872 HP + 43,567.817 HP (proxy)
@geekgirl 43,266.673 HP + 9.040 HP (proxy)
@russia-btc 42,226.687 HP
@mindtrap 41,304.818 HP + 99.376 HP (proxy)
@crimsonclad 35,389.009 HP + 28.951 HP (proxy)
@blockbrothers 95.204 HP + 34,644.089 HP (proxy)
@erikah 33,934.658 HP + 347.843 HP (proxy)
@mahdiyari 27,710.570 HP + 6,081.244 HP (proxy)
@gerber 29,461.643 HP
@v4vapid 23,963.543 HP + 4,849.596 HP (proxy)
@fredrikaa 28,023.021 HP
@drakos 27,823.231 HP
@ew-and-patterns 27,746.971 HP
@trumpman 27,575.464 HP
@roleerob 17,463.234 HP + 10,005.282 HP (proxy)
@digital-wisdom 27,082.898 HP
@originate 26,793.540 HP + 5.365 HP (proxy)
@felander 20,850.201 HP + 5,830.778 HP (proxy)
@thekittygirl 16,915.809 HP + 9,565.222 HP (proxy)
@roomservice 26,367.173 HP
@lynds 23,914.850 HP
@bluesniper 21,644.282 HP
@aliento 7,177.220 HP + 13,906.978 HP (proxy)
@bala41288 20,103.839 HP + 71.829 HP (proxy)
@dalz 19,803.409 HP
@matheusggr 19,543.101 HP
@imisstheoldkanye 19,529.151 HP
@pastzam 18,037.062 HP
@resiliencia 17,589.823 HP
@techslut 15,823.024 HP + 1,118.740 HP (proxy)
@lordbutterfly 16,071.221 HP
@techcoderx 5,364.447 HP + 10,384.009 HP (proxy)
@crokkon 10,578.602 HP + 4,450.646 HP (proxy)
@edje 14,408.371 HP
@proxy.token 0 HP + 13,980.886 HP (proxy)
@samotonakatoshi 13,796.382 HP + 63.575 HP (proxy)
@steem-hodler 13,321.307 HP
@doze 12,150.479 HP + 670.617 HP (proxy)
@immanuel94 9,714.459 HP + 2,832.658 HP (proxy)
@empoderat 10,802.052 HP + 1,694.491 HP (proxy)
@eroche 12,394.962 HP
@urun 12,304.502 HP
@rubencress 11,502.226 HP
@rishi556 2,968.876 HP + 8,357.140 HP (proxy)
@syedumair 10,162.922 HP + 1,052.071 HP (proxy)
@theb0red1 11,169.414 HP
@chromiumone 10,804.136 HP
@jelly13 10,652.590 HP
@sgt-dan 10,314.403 HP + 5.943 HP (proxy)
@harpagon 10,075.398 HP
@abrockman 10,039.436 HP

Many of the people in this list would rather not see DAO funding for much of anything. But I just wanted to clarify how "decentralized" the Hive DAO is. It's very nearly in the hands of 1 account. If you are voting for the return proposal, the best you can do to support a project is bring the vote balance back to zero by voting for both. I encourage everybody tagged to reconsider your support for proposals. With the current mechanics a vote for return is very nearly a vote for centralization.

A key tenet of Proof of Stake is not being able to control more than what you own. Much like a vote on Hive can't draw more inflation than that account has HP/Voting Power. With the current set up an account with roughly 3% of HP has very near complete control over 10% of inflation. I can only recommend an overhaul of this system so that votes are ranked choice, and influence on proposals is constrained in much the same way as other inflationary votes are... The witness voting system could use the same metrics, 30 full votes for 20 spots already caused enough issue that we had to fork our chain... but the powers that be just changed witness voting to a 30 day power up instead of giving up their centralized power.

A little about proposal 148 / 152
DLUX had the first VR Editor on any blockchain, beating Decentraland by 1 day.
Proposal 11 asked for support to build DeFi in September of 2019. Before Uniswap drew billions to ETH, or most people even knew what DeFi was. Yet it's still been impossible to find enough support here to draw from the DAO like Hive_keychain can do for ~40 lines of code per month.

Hive is carried by few enough exchanges that blocktrades feel comfortable drawing 3-30% fees for trading like this. Hive-Engine charges 1% fees each way and is so secure they lost 40K Hive just this month, and their P2P witness system won't prevent a similar loss. DeFi and non-custodial funds will makes these fees look even more ridiculous. It's known they've turned the return proposal here into "flagwars for grownups," at least they don't invite kids to the circle jerk.

Additional votes over 15 HP for information:

@iansart @steemitromney @eliel @rmach @mjhomb @stever82 @deathwing @lizanomadsoul @espoem @always1success @svamiva @kinakomochi @elevator09 @rehan12 @droida @jeanpi1908 @misslasvegas @gniksivart @vlemon @mstafford @free999enigma @nikv @bleepcoin @fbslo @danmaruschak @fjcalduch @tcpolymath @tabea @jasonshick @alaqrab @anfeng @yintercept @ackza @scubahead @kreur @doldrums @miniature-tiger @bhattg @penderis @victoriabsb @tsurmb @marc5 @markkujantunen @monster-one @downvoteme @fingersik @eirik @maruskina @hodlcommunity @okean123 @vintherinvest @rahul.stan @guruvaj @fusan @shoemanchu @hivetrending @shogo @paasz @jaydih @anonsteve @earlmonk @marius19 @woelfchen @greer184 @freddio @hdmed @flugschwein @notconvinced @wakeupkitty @sabari18 @khan.dayyanz @ykretz @coriolis @jotakrevs @shtup @tggr @forum.orcinorum @deviedev @pouchon.tribes @patrickulrich @atnazo @adamada @shawkr13 @juanmiguelsalas @johnhtims @aaronleang @steemvpn @tuck-fheman @fernandosoder @stemng @palasatenea @tinta-tertuang @hextech @bibop @sk1920 @jrvacation @taintedblood @lion200 @captainklaus @diana.catherine @sisygoboom @btcvenom @remlaps @stemgeeks @lelon @dirapa @antiretroviral @justineh @maxsieg @likwid @ederaleng @zelegations @brosino @timhorton @virus707 @dorian-lee @abitcoinskeptic @lyndsaybowes @vxn666 @kharma.scribbles @bafi @kargul09 @cnvote @superoo7 @lebin @stuffbyspencer @diosbot @scorer @sudutpandang @slowwalker @lauchmelder @drfk @karenmckersie @bobskibob @bigbanginfinity @abojasim880 @flaws @cryptopassion @talhasch @cerberus-dji @hightouch @cyberjz @alexbiojs @scrawly @briggsy @asd5710 @alphahippie @grimgriz @pervitin @manishmike10 @brayandeltoro @sekseos @bongje @butovets @cryptoctopus @jini-zzang @crypticat @lovelyyeon.sct @twirllinks @diamond-head