SteakSwap’s governance brings the protocol closer to self-sustainability:
SteakSwap Governance has approximately 400 unique representatives and 600 unique representatives, including the active participation of many leading ambassadors from the cryptocurrency community.
The SteakSwap Community Treasury currently holds over 47 million ATKs, which can be allocated by token holders voting at their discretion.
The first successful governance proposal was implemented on 27 December, setting up a grant scheme to invest in the future of the ecosystem.
Token listing improves discoverability of ERC20HECO:
In March, the SteakSwap team launched Token Lists, a community standard for creating HECO Token Lists.
The token list improves discoverability and trust in HECO in an inclusive, transparent, and decentralized manner.
Token lists have become the industry standard for chain-order card discovery and are supported by industry leaders such as Coingecko, Coinmarketcap Messari, Set Protocol, Kleros and Wrapped.com, and have been integrated into projects such as Matcha.
Sybil makes it easy to delegate:
On March 12, the SteakSwap team launched Sybil, a cross-platform tool designed to improve the discoverability of governance representatives.
Sybil uses third-party authentication platforms (Twitter, GitHub, etc.) and digital signatures to map on-chain addresses to digital identities.
Sybil authenticated identity works across platforms: Sybil supports composite governance out of the box.
Roadmap for 2021:
Enable automatic market making:
The SteakSwap team continues to research and develop market-leading AMM technology to make even greater strides with V3.
The design of V3 stems from the desire to greatly improve the AMM experience of switching and LP, thus increasing capital efficiency and flexibility while introducing superior execution.
Explore extension solutions:
Extended solutions provide a way to reduce delayed transactions, speed up settlement and reduce transaction costs.
Emphasis on governance:
SteakSwap’s long-term success is closely related to its ability to attract the best community talent and participate in effective long-term, decentralized decision-making.
Expanding governance requires both improved tools (see Sybil) and initiatives such as centralizing governance’s SteakSwap Grants program.
With thousands of delegates actively involved in governance, the SteakSwap core team plans to become more directly involved in governance as individuals during 2021: this includes publicly supporting or opposing proposals.
In addition, the core team can delegate voting rights to others or to themselves, although they will vote with no more than 10% of their own ATK. Governance will continue to be community-led.
We are eternally grateful to the HECO community for helping us achieve so much over the past few months and are excited for the time ahead.