Bisq DAO Cycle 11: Results

Posted by Steve Jain on 7 April 2020

This post summarizes the results of Cycle 11 of the Bisq DAO.

Cycle 11 was the first full DAO cycle under the reorganization detailed earlier in his year.

Notably, this cycle set a new all-time record for trade fee payments using BSQ—not a bad outcome for the last DAO cycle before the DAO’s 1-year anniversary. There were 3,372 BSQ fee payments in this cycle, compared to 2,804 in Cycle 10, and 2,805 in Cycle 3 (which was the last high).

Summary

  • Cycle took place between blocks 618,547 and 623,226
    • Calendar dates: 02/22/2020 - 03/27/2020
  • 35 proposals
    • 10 bonded role proposals
    • 4 proposals to change parameters (trading fees)
    • 2 generic proposals
    • 19 compensation requests
  • 242 votes cast
  • 44,349 BSQ issued for compensation (127,049 BSQ was issued in total, of which 91,866 was for reimbursing an arbitrator)

Please note that the arbitrator’s reimbursement was not only for Cycle 11. The last reimbursement request from the arbitrator was in Cycle 9 for 48,691 BSQ. Thus far, these have been the only 2 reimbursements issued to the arbitrator since the role was established with the v1.2 launch at the end of October 2019. This means in the ~5 months the arbitrator has been active, they have requested 140,557 BSQ.

Lowering this number is a top priority: in particular, squashing critical bugs and determining other ways to reduce dispute cases altogether (e.g., determining why some traders become unresponsive).

Proposal Details

Reduce BTC and BSQ maker fees

Parameter change proposals (link)

Accepted

BSQ and BTC fees were rebalanced in favor of makers, such that trading fees per 1 BTC are now 0.001/0.007 maker/taker for BTC and 5.75/40.25 maker/taker for BSQ.

The proposal also reduced the BSQ fee discount to 50% from 60%, and another proposal is in progress to make maintaining this fee dynamic more systematic.

Proposals for bonded roles

All were accepted

Bonding is a key element of DAO governance. This role added over 100,000 BSQ in bond commitments, taking the total amount of bonded BSQ to a little over 400,000 BSQ.

Promotion of 2 support interns to L1 support agents

Generic proposals (link) and (link)

Both were accepted

huey735 and bayernatoor were both promoted to L1 support agents following successful internships in Cycle 11.




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