[Temp Check] Blockswap Caymen Foundation

Abstract

The proposal aims to create an organization to serve the Blockswap community through taking ownership of the protocols created by Blockswap Labs. To do this a new entity needs to be created - a Caymen Islands foundation - that can empower the community with the Blockswap DAO’s treasury to fund the community's growth.

Community feedback from this forum temp check have been taken into account with this Snapshot vote (https://gov.blockswap.network/t/temperature-check-blockswap-dao-foundation/563). Specifically, the total amount of BSN allocated has been removed and so has the cBSN to BSN conversion amounts.

The objective of this vote is to get the Caymen Foundation entity concept passed by the community first and then to gather agreement on the total amount of BSN to allocate from the Blockswap DAO treasury.

Motivation

In light of Blockswap Labs completing the Blockswap roadmap (https://gov.blockswap.network/t/notice-completion-of-blockswap-network-roadmap/510) it is imperative that the DAO now take ownership of the protocols given to them.

The Blockswap Caymen Foundation will serve to integrate the Blockswap Lab’s products and technical support with the community of Ethereum staking infrastructure participants to maximize the value for the community.

The Blockswap Caymen Foundation will provide support, guidance, and funding for all future investment and growth into the community to help the community thrive with a robust group of buliders, hobbyists, professionals, researchers, financial organizations, entrepreneurs, and investors who have the best interest in mind for the Blockswap community.

Current Status

The Blockswap protocols are actively being used today by global investors and users without active BSN incentives. This validates the organic interest in the protocols.

The Stakehouse, Stakehouse - Common Interest Protocol, and LST Optimnizer aka the Protocols have set a new standard for an Ethereum Staking Operating System owned by the community.

The Community has owned and driven the liquidity for the protocols to date, without an airdrop or liquidity support from the Blockswap DAO. With a robust community of participants, we’ve seen individuals and groups add value to the community without incentives. Here are a few examples:

• Ykplayer - runs the largest LSD Network & actively issuing grants, and promote liquidity for BSN tokens
• JohnBrown - actively producing additional protocols to be used by community members
• DappNode - distributing DappNodes to community members staking from home

Rationale

This Foundation is being proposed now to ensure the community can grow and thrive ahead post Blockswap Labs’ completed engagement mandate. The protocols and applications development has completed and they are fully self functional. Here are the top 5 reasons why for the Blockswap Caymen Foundation.

This is a fantastic time and opportunity to jump start the community with re-engagement of old/current community members and to bring in new members.

A legal organization and entity is required for the DAO to operate and move tokens out of the treasury to be used by the community. Without a foundation, certain activities are not possible such as liquidity support (market-making), empowerment of community leaders, and grants disbursements at scale.

The Blockswap DAO will still vote and have control over technical operations and the Foundation will execute the DAO’s ideas and vision.

The BSN token has not had a “real token launch” yet and this has resulted in low global liquidity. BSN Liquidity is a top priority for the community and the DAO Foundation will enable BSN liquidity for a market-making proposal quickly to help jump start growth.

The Blockswap Labs team has completed their commitments to finalize the protocols and products (highlighted below):

• Stakehouse dApp
• Stakehouse LSD Networks
• Stakehouse Monitoring
• Common Interest Protocol Stakehouse Application
• Fren Delegation
• dETH Gateway
• LST Optimizer

The Caymen Foundation will serve as the liaison for the procools and products moving forward to be the voice and force to enable current and future participants to be successful with Ethereum staking infrastructure through Blockswap.

Foundation Objectives

1. Increase the global liquidity of the BSN tokens to increase the opportunities for community engagement and growth.
2. Provide funding and hands-on support for the Blockswap community through the Blockswap DAO’s treasury.
3. Manage the Blockswap DAO grants to validate and ensure successful completion of commitments.
4. Grow the community with strategic guidance and support from all participants in the community.
5. Explore the best way to airdrop BSN and/or other tokens to the current and future community

Foundation Structure

The Blockswap DAO Foundation will be composed of members for each area of the community. Each member will represent a different part of the ecosystem. Here are some examples and proposed members.

• Voice of the Ethereum Ecosystem Stewards Example: Extend an offer to the Ethereum staking community members
• Voice of the Protocol’s Technical Support Example: Extend an offer to Blockswap Labs as a technical adviser
• Voice of the Blockswap Organization Example: Extend an offer to Blockswap Foundation members
• Voice of the Hardware Community Example: Extend an offer to DappNode community
• Voice of the Distributed Validator Technology (DVT) Community Example: Extend an offer offer to DVT ecosystem leaders (SSV, Obol, +)
• Voice of the Education Community Example: Extend an offer to community leaders (ETHStaker +)
• Voice of the End-User Community Example: Extend an offer to Kent Philly.

Community Feedback - Rewarding Early Users

Taking into consideration the voice of the current community, this proposal will also provide current cBSN and SHB holders an additional opportunity to convert to BSN. cBSN and SHB holders had 100 days to convert over to BSN (Forum Link) and some community holders missed this opportunity. The conversion rate is to be determined by the community.

The intention here is to reward the legacy OG community members who missed the opportunity to convert to BSN. Blockswap is community driven and it is important to reward early contributors who helped get the community to where it is today.

Steps to Implement

1. This Temp Check proposal will be approved achieving quorum of enough "Yes" votes.

2. Once approved, consideration and updates will be made for the total BSN allocation, conversion of cBSN to BSN, and any other changes requested by the community members to move to a Tally vote.

3. Passing of the Tally vote will be deemed as a ratification of the Blockswap Caymen Foundation.