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.

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As the DeFi bull market continues, some brutally honest tips for new founders fundraising in crypto.

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1/ The discount you offer to strategic investors is both to account for the risk of an unlaunched product, but also as compensation for continued value add and support.

So make sure you know the investor will support you and not leave you on read once the docs are signed!

2/ Having someone on your cap table/ token allocation is as important as hiring.

You wouldn't hire someone just because they are influencers on Twitter- you do your reference checks and find evidence of value add from other companies the investor has invested in.

3/ Don't trust, verify.

Many investors will promise you the world when they're trying to get on your cap table.

Talk to founders they backed to see how much of it is bullshit. Ask them about how the investor was there for them during hard times.

4/ Don't just go for "name brand" funds because you want the brand.

Sure, it's great validation, but optimize for fit, not vanity.

However, I do think many well-known VCs are good actors, especially those with roots in successful trad VCs. They have a rep for a reason!
Having made over 1000 boxes for vulnerable families in Cambridge via @RedHenCambridge (thanks to our customers 🙏🏽) My thoughts on the £30 box thing. Lots of factors at play here. 1/

If the pics in this @BootstrapCook thread are true and correct then the Govt/taxpayers & families in need are getting absolutely SHAFTED 👇🏽 2/


There are some mitigating circumstances. A £30 box won’t ever contain £30 (retail) worth of food - people aren’t factoring in
-the cost of the box
-paying someone to fill it
-rent & rates
-& most expensive the *transport/distribution*

3/

If you’re doing the above at scale. Delivering *across the UK* it’s not cheap BUT IMHO there should be at LEAST £20 worth of groceries in a £30 box. To get more value they need more fresh produce. Just carrots & apples is terrible. 4/

I’m gonna put my rep on the line here & say something about these big national catering companies whose names I’ve seen mentioned. They are an ASSHOLE to deal with & completely shaft small businesses like mine with their terms which is why I won’t deal with them. 5/

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