We at Hummingbot Foundation propose the following changes to the governance system starting with the next Epoch, which runs from July to Sept 2023.
Allocate 7M HBOT for Epoch 5 bounties During Epoch 3 so far, we have distributed 3.2M HBOT in 112 transactions to 27 unique wallets. Currently, there are 5.7M in HBOT earmarked for bounties vs 3.7M balance in the Community Rewards Wallet (see HBOT tracker https://docs.google.com/spreadsheets/d/1UNAumPMnXfsghAAXrfKkPGRH9QlC8k7Cu1FGQVL1t0M/edit?usp=sharing for more details)
We request to transfer 7M HBOT from the Community Reserve Wallet to the Community Rewards Wallet. This ensures that there is enough to fund currently allocated bounties + 5M for new bounties created during Epoch 5.
Create New Connector Proposal type Voting on which exchange connectors should be included in Hummingbot is one of the main use cases for HBOT, and exchange connectors currently need 100,000 HBOT each Epoch to stay in the codebase. However, new connectors are added via Pull Request Proposal, which only requires 1 HBOT minimum balance to create.
We believe that a higher amount of HBOT should be required to propose a new connector into the codebase, since each new connector requires maintenance, testing, and documentation time that imposes a cost on all Hummingbot users. Therefore, we propose a new proposal type (New Connector Proposal) that would be required for pull requests that add new CEX or DEX connectors to the Hummingbot or Hummingbot Gateway codebases.
New Connector Proposals would have the same terms as Pull Request Proposals except for:
Minimum HBOT Balance: 200,000 Quorum Percentage: 1% of circulating HBOT supply