Since the official registration for the Algorand Foundation May Community All-Hands allows submission of questions of maximum length of 100 characters, which is inadequate to address the current complex topics, I am posting my questions here in hopes that the Foundation will consider addressing them.
Questions regarding Governance:
Could the Foundation please elaborate on why it deems necessary there to be another layer of Governance (i.e. xGov) rather than having the whole governance system on the same level? Such a two-layer system requires an additional, unnecessary assumption to work for the good of Algorand - i.e. that the majority of the subgroup (i.e. xGovs) from all Algorand users, acts for the good of Algorand (instead of just the existing assumption of the majority of all Algorand users). Despite the fact that proposals would still need to be confirmed by the majority of all users, the smaller group of xGovs could be more easily overtaken by bad actors, resulting in censoring of proposals or even proposing only malicious measures for vote.
How can the Foundation deem the Governance system to be decentralized if it will keep the authority to edit (thus also censor) proposals (even if this is with the noble goal to ensure accurate language and compatibility with Foundation’s mission statement) as per the M2 of G3? A solution should be (and can be) made that doesn’t require a central authority.
Giving a double voting power to DeFi users as per the M1 of G3 seems to contradict one of the core principles of Algorand, represented by the Pure PoS itself – the equal power of each and every single ALGO, with inclusive direct participation. How does the Foundation see this contradiction? Would it be possible to get Silvio Micali to comment on this?
How does the Foundation plan to prevent creation of a DeFi lobby overtaking the Governance if M1 of G3 passes? If the measure passes, DeFi could gain much more power than other Governors, leading to them overtaking the Governance and accepting measures that benefit only DeFi and not other parts of the ecosystem? Once DeFi gains additional power, it will never be possible to take it back.
Questions regarding ecosystem funding:
- How much ALGO has been distributed currently through Aeneas program and how much of it is there still left?
- Is there a report on what the Aeneas (Virdis Phase II) and Virdis Phase I where used on? This is not detailed in the recently issued transparency report.