Try Quests to earn cryptoLuna holders can effect change on Terra by submitting proposals. Once a proposal is submitted then it will be open for voting. All Luna holders can cast their votes on the proposals (1 vote per Luna). Once a proposal reaches a consensus threshold then it is either implemented or rejected.
Validators have a lot of voting power due to the Luna that is delegated to them.
Terra Bites hosts a podcast that I enjoy. It keeps me informed on the new projects happening on Terra. Terra Bites also runs a validator node. Judging from the content of their podcast episodes, they seem well informed on the various governance proposals. In my opinion Terra Bites takes to heart the success of the Terra ecosystem. I can say the same about Flipside Crypto. Flipside is up to date on all that is happening on Terra. They also help various initiatives by providing advice and guidance to other teams. Let's compare the voting history of Terra Bites and Flipside.
Terra Bites and Flipside have voted the same for all proposals except proposal #100.
Note that I chose to ignore proposal #95. This is because proposal #95 appears twice: once with a 'yes' vote from Flipside, and then again but this time with a 'no' vote.
What was this proposal where our validators voted differently? Proposal 100 was to bootstrap the funding of KADO. KADO is a fintech that uses UST stablecoins for payments. They enable users to makes purchases on Amazon using UST. They are also launching a debit card sometime this year. Kado will also offer a fiat on-ramp to UST.
In proposal 100, KADO requested 21,000 Luna. This type of proposal is called a community pool spend proposal. Many of these types of proposals are rejected. Flipside voted no to this proposal while Terra Bites voted yes. I wonder why they voted differently.
A lively debate took place in the comment section of Kado's proposal. After reading Flipside's comments, my understanding is that Kado's team was not able to demonstrate sufficient credibility to obtain Flipside's vote. I think Flipside was not so keen on using Terra's community pool to fund a for-profit payment provider.
Proposal 100 passed with 89% of the votes in favor. Following Flipside's comments and questions, Kado's team made substantial improvements to their proposals. For example, the core team revealed their identify after Flipside asked them for more transparency.
Kado appears to have made good progress since then. Their online marketplace is up and running and it accepts payments in UST. They have also expanded to Canada, the UK, Germany, and Mexico. The team is active on Twitter and is involved with the Terra community. On the other hand, their debit card and fiat on-ramp are note live yet.
In this post, I compare Flipside Crypto's voting history with that of Terra Bites. I also highlight differences in the voting decisions.
The voting mechanism on Terra appears to be working well. The community pool can be used to bootstrap new ventures that can help with the growth of Terra. When the proposals are flawed, respected members of the community offer valuable advice to improve the proposal.
We also observe that Terra Bites and Flipside are quite aligned in their voting decisions. I feel reassured to know that these esteemed validators take the time to carefully review governance proposals.
Terra Bites interviewed Emery Andrew of Kado on in June 2021. They discuss the current offerings and future roadmap of Kado.