2 Amendment suggestions for the SPinvest's partnership agreement - Lets open up Governance to all
Hello and welcome to this SPinvest post
SPinvest is a tokenized investment fund/club for all users of social blockchains. Everyone is welcome! The concept of SPinvest is to get rich slowly by using time tested methods of earning, saving and compounding long term. This lets SPinvest offer an ROI of 20% per year on SPI tokens. We encourage long term investing on and off the blockchain. We hope someday everyone will HODL some SPI tokens that can be bought directly from @spinvest are through the hive-engine
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Good day investors. Today we are going to talk about the SPinvest partnership agreement. The agreement we have in place now wrote for SPinvest during its funding stage and now that we are past that and paying out dividends, we need to make some changes. When looking through the partnership agreement, I see a few things that should maybe apply to all token holders and with a year's experience behind us, I think we can produce a better agreement that opens up governance to all token holders while being able to reward members that are actively contributing towards SPinvests growth are performing a required need.
2 suggestions for feedback
Going with the idea of having the agreement in 2 parts is what I have been thinking. Part 1, Investors Part 2, Team members. Investors are not required to agree to anything but have voting rights while team members will be required to agree to something.
1/ Get rid of the investment club & make all token holders the same (Investors)
What is the SPinvest club after 1 year? It's not really everything when we look at it, it's 35ish people who become club members over a year ago with half at the best taking part in a few votes. Maybe I should have pushed it more, maybe HIVE's falling user numbers did not help, maybe it's not a project that requires a club, maybe this, maybe that, we know it's not a proper investment club in the sense of a group of people all working together toward a common goal. It's a small group within the club pushing the project forward. Without mincing my words are using soft talk. There is a difference between supporting a project and contributing to a project without sounding ungrateful to supporters.
I would suggest replacing "club members" with "investors" with no action required other than holding 10+ SPI tokens in their hive-engine wallet. That means all token holders with a minimum holding of 10 SPI tokens after the new agreement is released should have voting rights to future votes based on the voting weight that are already in place. There will be no action required from the token holder, other than holding 10 SPI tokens to gain "investor" status.
10-99 SPI's will earn a vote equal to 1
100-499 SPI's will earn a vote equal to 2
500-999 SPI will earn a vote equal to 3
1000-2499 SPI's will earn a vote equal to 4
2500+ SPI's will earn a vote equal to 5
Currently, non-club members receive dividends from 70% of the dividend reward pool, this can increase to 80% which is good news for 400+ token holders. This will also spread governance of the fund to x10 more people which in turn dilutes the voting power of dominant whale accounts holding 2500 plus SPI tokens.
2/ Have a team responsible for SPinvest's maintenance and day to day running (Team members)
With a little more than a year's worth of experience behind us, we can see who does what within SPinvest with actions and banked HIVE speaking louder than typed words. We know who runs which accounts, who posts for SPinvest, who runs gaming accounts, etc. I think going forward, having a smaller team were everyone has an active role will be easier to manage and will increase productivity overall. Everyone now who does something for SPinvest is someone that is easy to contact, is dependable and never requires to be brought up to date with current going ons.
Part 2 of the new agreement will include terms and conditions for anyone that wants to become a team member and holds 100+ SPI tokens. This will require an agreement like the last but using an easier format other than having to produce a post for confirmation. This agreement will require you to be active, you will be reviewed quarterly and you will have to renew to the agreement yearly. I make it sound appealing?
Benefits would be receiving the investor 80% dividends plus the new 20% team member dividend. In theory, a team member dividend payment will be 25% more than an investor so the reward is not that great to be honest but maybe a team member should be motivated by SPinvest's long term success over short term gains. Voting weights for team members would also be increased by a factor of 3
100-499 SPI's will earn a vote equal to 6
500-999 SPI will earn a vote equal to 9
1000-2499 SPI's will earn a vote equal to 12
2500+ SPI's will earn a vote equal to 15
Lastly, Discord server update
The discord server has remained the same since it was opened and its maybe time to sort it out and make it a better place to visit. We could remove all current roles and have "guests" for non-token holders, "investors" for token holders and "whatever the role is" for team members. I'll will look into some RSS feeds for market prices, adding a few useful bots, new channels and giving the place a do-over. I don't think we are using discord to its full advantage and it could help with making a few tasks easier. This post to gather some feedback from token holders with the new agreement being released before the end of the end.
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SPinvest's content is contributed by @silverstackeruk, @underground, @no-advice, @metzli & @taskmaster4450
Today's post comes to you from @silverstackeruk
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I like that, so you an investor if you have small stake, but a team/boardmember when you have big stake and you can sell in and out depending on what you want out of the project, kinda like a little company, sounds very interesting, great to see experiments like these on chain
Yep, exactly like that. Team members would be required to have a 100 SPI tokens ($45) but opening up the voting to more people should grow interest as well. The steemleo airdrop added SPI tokens into 300+ wallets, lets bring the experiment to more people :)
Thanks for your feedback
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Under the proposed arrangements, you could be a big investor (eg more that 2,500 SPI tokens) but still only be an investor if you didn't want to take on any team member duties.
100% correct
Sounds good to me. I think the distinctions will work well and opening up to more people for voting is in our best interest. Giving those with even the minimum 10 SPI the chance to vote will give us better involvement.
I hope so :)
Should work, always does
I like the proposals - I agree with others in the comments that opening voting to everyone who holds 10SPI is a good move. I also like the more sustainable business model that recognises the contribution from team members through higher dividends.
The only thing I don't like is the proposal to triple the voting weights of team members. My view is that they should remain the same as any investor at the same level. I don't really see the point of extending the voting base if the team members, by acting together, could outvote the rest of the investors.
Most frequently in charities and companies, the equivalent of team members would be excluded from voting on any issue in which they had an interest. I don't think that arrangement would quite work here, but it does suggest to me that team members should not have greater voting powers than investors.
I wonder about the quarterly reviewing - who is going to do that, I wonder 😁 and also whether that arrangement might become a little bit onerous. Again, charity and company governance usually has provision for removing, in this case, team members. That might be a better arrangement, something that is used when needed, but otherwise, doesn't create lots of possibly unnecessary work.
I agree with @shanibeer remarks 100% being lazy cause my comment would be just about the same. The more tokens you hold the more weight your vote should be worth/
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Great response. I agree with you as well 100%.
I understand where you guys are coming from. Weights are already set up in favour of smaller token holders, massively. 5 token holder holding 10 tokens have the same weight vote as 1 token holding 2500 Here is our current voting weights.
a. 10-99 SPI's will earn a vote equal to 1
b .100-499 SPI's will earn a vote equal to 2
c. 500-999 SPI will earn a vote equal to 3
d. 1000-2499 SPI's will earn a vote equal to 4
e. 2500+ SPI's will earn a vote equal to 5
using the numbers above
a. Min 10 / Max 99 for 1 vote - Max cost for 1 vote = 99 SPI tokens
b. Min 100 / Max 499 for 2 votes - Max cost per 1 vote = 250 SPI tokens
c. Min 500 / Max 999 for 3 votes - Max cost per 1 vote = 333 SPI tokens
d. Min 1000 / Max 2499 for 4 votes - Max cost per 1 vote = 625 SPI tokens
e. Min 2500 for 5 votes - Min cost per 1 vote = 500 SPI tokens
e+. Min 5000 for 5 votes - Min cost per 1 vote = 1000 SPI tokens
e++. Min 10,000 for 5 votes - Min cost per 1 vote = 2000 SPI tokens
As for team members voting within themselves. My 13k token holding can be countered in voting weight with 50 SPI tokens and 5 accounts are 210 SPI tokens and 3 accounts. Even with an x3 voting weight increase, my vote worth 15 could be countered with 150 SPI over 15 accounts, 710 SPI over 8 accounts are 2500 SPI tokens over 5 accounts.
The only way to make it completely fair would be to make it 1 SPI equals 1 vote weight but then smaller tokens holders would be worse off than the x3 thing I'm suggesting for team members.
I put some thought into these voting weights a year ago to give the advantage to small token holders. Again, I understand why people don't like the idea but the numbers tell a different story. 30% of all tokens are held by 3 accounts with 5 voting weight each. 145 people each owning more than 10 tokens with 1-5 weighting vote. We're talking 3 whales with 15 votes vs 145 token holders with 400-600 votes.
Thanks you 3 for feedback and commenting.
I appreciate it is complex finding the right balance.
Also good to have the debate :)
A lot of the times, it's just a case of access to information. Nobody would have known about the advantage currently given the smaller token holders unless they worked it out like I did above.
Debate is good out in the open. :)
I vote for this proposal...in all parts.
At worst, we can always change it next year. LOL.
I think there should be a yearly agreement for the club as things change. So whatever is put in now is in effect for 12 months. Of course, it could be renewed as is if that is what everyone wants in a years time.
Excellent, thank you for the feedback. Making it a yearly thing keeps us fresh, crypto moves first as you know.
That's true :)
I like this idea. I am an inactive member of the club (I am hampered by the language barrier), but I do not intend to sell SPI :-)
Your not allowed to sell your tokens :)
Even if I allowed it, I would not sell my SPI :-)
😍
Just hold 10 SPI.
Yep. :)
https://hive-engine.com/?p=market&t=SPI
I agree 100% to the proposal