LBI's 1st Gov voting results - Governance model has been selected

LeoFinance
14 days ago
7 Min Read
1353 Words

Authored by @silverstackeruk

Hello LBI'ers. Today we have the results of the 1st LBI governance token holder vote and we have selected out starting governance model.

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We had 28 LBI token holders taking part from the 145 wallets that hold 10 are more LBI tokens. Random fact from while I was checking the rich list, there is 174 wallets holding LBI tokens and 200k LP in the account meaning the avg LBI investor has invested 1149 LEO. That's a really high number for an avg? Sorry to go off topic but thought I should share that before forgetting the numbers. We had 28 LBI token holders taking part and a thank you to those that did.

There were 2 minors problems but they can be looked past as we are new and still getting used to how things work . @ammonite, you voted from your ammonite.Leo account. I understand having multiple accounts is tricky but please vote from the account you hold your LBI tokens, this time is cool. The second minor was smaller but the vote was almost missed. @myvest, you placed your vote as a reply to @hivebuzz comment. I mean if there's 1 comment in the whole post im not gonna read, its the hivebuzz comment, lucky I saw it while double-checking. Please be more careful in future, your vote should be a comment, im not checking replies to comments when im counting votes as it's distracting.

28 out of 145 is not to bad to start with. We will never got over a 100 people as some people are happy to buy LBI and just sit on it happy to know its managed so 28 is not to bad. I do all this stuff manually, i understand it takes longer and sometimes small mistakes can happen but when you use a bot to collect all your stats, you dont really see who voted on what as you only check the end result. I typed out everyone's username that voted, i looked up their LBI token holdings to see what their voting weight is and inputted all their votes one by one. Some will say this is an outdated way of working but I see every token holder that votes, what they voted on, I see the same names every day buying LBI tokens when I manually issue them, I recognise those names when I see them in the comments. I see who is actively involved by there action and dont see who is not and considers LBI to be a passive investment.

I am very happy with 24 votes, let's jump into the results.

VOTING RESULTS

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We have selected

  • each governance term to be 6 months long
  • proposals and governance voting every 6 months
  • 5 proposals will pass from pre-voting to the final vote
  • 2 proposals will pass and be put into action

We can see that the governance team member terms will last for 6 months and each voting cycle will be 6 months meaning 1 governance voting round per governance team term. I must say, this result looks strange to me but 15 of the 16 people that voted for 6-month terms also voted for 6-month cycles so maybe it's over my head. Anyway, I changed around the order in which things would be done to better accommodate this result. This results in the first governance team term of 9 months. It was either a 1st gov team term of 9-months are waiting 9 months until we did our first round of governance voting. I hope I picked correctly.

Moving on to how many proposals will pass from pre-voting into the final vote, you can see that A & B both ended with 32 votes so I flipped a coin and it landed tails. Im joking, hahaha. sorry. A had 10 voters and B had 13 voters and I think this is the fairest way to settle this without having to ask for a revote and 5 proposals will pass into the final vote.

Lastly, we have picked for 2 proposals to pass and be put into affect by a landslide.

Here is our final result

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Weeks 11-13 will not take place during the first cycle and will begin on cycle 2.

What's next?

Jes, this is a hard one to answer. I know what needs to be done as it's in my head but in what order. Have they invented USB brain plugs yet? i could use one to unload a few ideas to people. haha
We have selected our starting governance model. This can always be changed are adjusted in the future but we have some basic rules picked by LBI token holders that we can now use to build on. The next post to be released in relation to LBI governance will be released from the @lbi-gov account. Please go and follow that account so you dont miss out on any votes. You can click the account link, follow the account and then hit the back bottom to finish reading this post. I'll even wait 5 seconds for you to do that.

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5 seconds if your a slow reader

Now that you are following the @lbi-gov you'll be glad to hear you'll not out on the announcement post from that account when LBI will be recruiting for its first Governance team, post will be uploaded within 4-7 days. We will give 2 weeks to collect nominations from token holders and 1 week for token holders to vote who will become the LBI governance team. When the governance team is announced, we will start collecting proposal's and begin our 6-month cycle process.

Once we start collecting proposals, I, SSUK will step back and full governance of the LBI token will be in the hands of investors. I am the asset manager/slave and part of the content team. I have no intention of being part of the governance team, or any other team that LBI creates in the future.

As the asset manager, my focus is on managing assets and people that are given access to those assets in any way. Eg, future gaming game will have active keys for the gaming account giving them access to LBI funds. When funds move around these accounts, I need to know why as I am responsible for close to $100k of other peoples money and I never plan to write a "sorry guys, funds are gone" post. I take my role seriously, I goof, joke about and even say some stupid shit sometimes but I never play with other peoples money. If someone goes rogue, you better believe they will be found out quickly.

Each LBI team will work independently with my full support when required. I help from the background. I think SPI team members that run SPI projects/accounts would confirm im pretty easy and open to communicate with and always available to give advice, brainstorm with you to work out solutions if you are having problems and im a sponge for ideas.

As part of the content team and keeping in mind, i have all the backend data for LBI, I am able to produce magnificent content showing all of LBI's beautiful stats and people love that. I love writing those posts and making up charts and graphs to include into them. There's nothing better than giving great news.

So to sum that last couple of paragraphs up into 1 line.

Once the LBI governance team is selected and the "now accepting proposals" post is uploaded, i, SSUK im out and back to doing what I do best.

Available for questions are advice, but not uploading any content to the @lbi-gov account. You can follow that account if you like and you will not miss out on future LBI governance voting.

First LBI done

Good stuff, a great job and thank you to everyone that took part in the voting process. First of many!!

Thank you for reading this LBI post today. No thumbs up points sadly.

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