Over the past week we have seen an explosion in people, energy, and capital flow into the 1hive community. Welcome everyone!
We are stoked that everyone is as excited as we are about Honey. There are many possibilities for shared value creation that a thriving decentralized and autonomous community can manifest.
That being said… rapid parabolic growth has its challenges! Over the past week we have experienced many of them.
…are the most critical the 1hive community will likely face, and we hope we can come together to ensure that the seeds we plant today will grow into something truly amazing 🌳 🐝 🍯
As a decentralized autonomous organization, we are closer to a complex dynamic system than a company. As such, the initial conditions of that system have a profound effect on the result. While the same mechanisms can be copied infinitely, the initial conditions that make them succeed are scarce opportunities. Every fork of bitcoin is just a fork, every ethereum killer is just kidding themselves, but with 1hive we have the potential to create something unique and disruptive - by and for the community.
And our community cares!
One of the more unexpected contributions came from an anonymous community member who found and reported a configuration issue with conviction voting. An administrative vote to resolve the issue has been created, but conviction funding proposals will not be executable until this vote has concluded. Anyone with honey can choose to participate, but there is already sufficient support and no need to take action (note that if you do participate in the vote and vote yes your tokens will be locked until the vote is concluded). It will take a week to for the voting to end, then a 2 day delay period before the result can be enacted. After that conviction funding proposals will be possible execute and the honey will flow!
But there’s good news: we’ve made great progress on the liquidity mining initiative! The pools that will be incentivized with honey have not been determined, and will ultimately be determined by which pools receive funding with conviction voting. If there is a specific pool you think should be included in the initial website, we have time this week to add additional pools to the farm, so don’t be shy about sharing your ideas! Then when conviction funding proposals are re-enabled we’ll flow 🍯 to HoneySwap LPs!
While we had originally planned for the liquidity mining to start this week, the delay caused by the administrative vote is a fortuitous opportunity for the 1hive community to come together, take a breath, and consciously take steps to optimize our processes in order maximize long term potential. Our friends at the Commons Stack, would call this the “Cultural Build:” establishing the processes, moderation tools, and social expectations that help communities successfully scale. We have some time to get ourselves in shape before conviction funding proposals turn back on and we let the honey flow with liquidity mining incentives! We urge everyone in the community to use this time wisely and take steps to solidify our cultural foundation.
As a reminder, 1Hive is a community. There are long time community members who want to see 1Hive thrive, but there is no core team. The community has bootstrapped organically, and all the funds in the common pool are stewarded by the community as a whole. It is your responsibility as a community member to contribute where you can, if you see something you don’t like speak up, take initiative, and help make 1hive what we all want it to bee!
Let’s build a culture together, and remember, this is just the beeginning 🐝 🍯