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RE: The State of EOS Governance: ECAF & {{ regarbitrator }}

in #eos3 years ago

Arbiters and the ECDR are skilled professionals providing a service to token-holders and should be compensated for those services. But, to compensate them by any other means than through free market forces would create market inefficiencies.

We have to remember that there are two kinds of markets: internal and external.

Internal markets work inside EOS blockchain. In most of the cases it makes sense to use market mechanism and let participants compete against each other. In the long term it makes the whole system work better.

But there are also external markets. That's EOS vs. all other blockchains and online communities. If we want to compete on this market efficiently, we have to make sure services that we offer to our users are high quality and they are happy with them. EOS is a one big DAO that competes against other DAOs and traditional companies.

Now that we are still in the bootstrapping phase, my suggestion is to make sure essential features will get enough funding. This includes ECAF/ECDR. If we want to have trustworthy jurisdiction, we need to make sure it won't fail because lack of funding.