Voting on the first $ZIL governance proposal has just ended. The proposal has passed with a resounding YES, which means that the community has now agreed on the rules for future decision making.

Time to analyze, introspect and see how to make this better next time. A thread 👇

1/ 348 different wallets voted. It may appear to be low given that 25,304 were holding $gZIL before the voting started. But, if you compare with other projects, it is in fact quite high. The last voting on YAM had 4 participants, 177 on YFI, 91 on SUSHI, 30 on UNI and 8 on SNX.
2/ Since 1 $gZIL = 1 vote, the total number of $gZIL used for voting was around 26,694, while the total number of $gZIL captured in the snapshot was 130,481. This translates to around 21% $gZIL being used for voting. The largest voter had 2,479 while the smallest had 0.002 $gZIL.
3/ In order to better understand the voter diversity, we looked at their $gZIL holding. As you can see, only 1% of voters who hold less than 200 $gZILs voted. And generally speaking, it looks like the voting participation was high among those who hold larger number of $gZILs.
4/ As pointed out by @jdune23, one explanation for low participation among users in the smallest $gZIL holding group could be that most of them are staking via Moonlet or Atomic. There was no straightforward way for them to vote.
5/ Given that @moonlet_wallet and @AtomicWallet are the operators with the largest delegated stake and also the largest number of delegators, being unable to vote from these wallet must have been an impediment.
6/ In order to remedy this, @moonlet_wallet has been working on integrating the governance functionality within its app. I hope this could be ready by the time the next proposal is announced.
7/ On our end, we are also working on a wallet module which some of you may be familiar with on Ethereum. This wallet module will provide a single interface for different wallets such as Ledger, @pay_zil, @moonlet_wallet, etc. The Moonlet team has submitted a ZIP to this effect.
8/ We also noticed that during the entire voting period, the community was actively rallying others to vote. As proposed by someone on the forum, it will be a good idea to develop a reminder bot on TG to alert $gZIL holders on voting deadlines.
9/ I thought it might be interesting to know whether the early birds were mostly smaller $gZIL holders or rather the larger holders. Here is chat that captures voting timestamp. As you can see, the smaller $gZIL holder were quite spread out while the whales were rather early.
10/ Finally, the question that always pops up is whether there should be an incentive for people to vote. I am a bit torn on this but maybe we leave it for another proposal. Thank you again for your participation. Onwards and upwards.

More from Finance

The Dutch regulator and DNB as financial supervisor are a tough cookie to deal with. In essence they hyperregulate EU-rules into goldplated Dutch rules which go beyond what is prescribed in Europe.

All NL-customers at British banks may thus be kicked out on brexit.

Thread

/1

If we start with the capital requirements directive, it says attracting deposits is forbidden. In article 9.

https://t.co/RYl7SXligC


Now the translation of that rule into Dutch law is slightly expanded to not only prohibit attracting deposits, but to also prohibit, having those deposits under custody ('ter beschikking hebben').

That's not in EU law, but it is in our Dutch law.

https://t.co/PsbWfNY3PA


So if you wonder how this would work out for UK banks and Payment institutions servicing Dutch customers. Have a read at the technical explanation of DNB, the financial supervisor and their summarising table.

https://t.co/LL0fAnYkRJ

Passive servicing of Dutch is not allowed!


Any bank or PSP in the UK that continues to serve Dutch customers (as in retail customers, professional players are excepted) can thus be subject to fines and policing under Dutch law.

Meaning we not only have Accidental American issues in payments, but also Accidental Dutchies

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॥ॐ॥
अस्य श्री गायत्री ध्यान श्लोक:
(gAyatri dhyAna shlOka)
• This shloka to meditate personified form of वेदमाता गायत्री was given by Bhagwaan Brahma to Sage yAgnavalkya (याज्ञवल्क्य).

• 14th shloka of गायत्री कवचम् which is taken from वशिष्ठ संहिता, goes as follows..


• मुक्ता-विद्रुम-हेम-नील धवलच्छायैर्मुखस्त्रीक्षणै:।
muktA vidruma hEma nIla dhavalachhAyaiH mukhaistrlkShaNaiH.

• युक्तामिन्दुकला-निबद्धमुकुटां तत्वार्थवर्णात्मिकाम्॥
yuktAmindukalA nibaddha makutAm tatvArtha varNAtmikam.

• गायत्रीं वरदाभयाङ्कुश कशां शुभ्रं कपालं गदाम्।
gAyatrIm vardAbhayANkusha kashAm shubhram kapAlam gadAm.

• शंखं चक्रमथारविन्दयुगलं हस्तैर्वहन्ती भजै॥
shankham chakramathArvinda yugalam hastairvahantIm bhajE.

This shloka describes the form of वेदमाता गायत्री.

• It says, "She has five faces which shine with the colours of a Pearl 'मुक्ता', Coral 'विद्रुम', Gold 'हेम्', Sapphire 'नील्', & a Diamond 'धवलम्'.

• These five faces are symbolic of the five primordial elements called पञ्चमहाभूत:' which makes up the entire existence.

• These are the elements of SPACE, FIRE, WIND, EARTH & WATER.

• All these five faces shine with three eyes 'त्रिक्षणै:'.