We are excited to publish the first release of the MangroveDAO Governance Report, which details the key governance activities on the first mandate of both Councils. This report is designed to transparently showcase the efforts of the newly-elected councils.
Let’s dive into the details of these past few months at MangroveDAO!
From the Governance Model to the First Elections
MangroveDAO was established on December 13, 2023, based on a pioneering governance model — Multistakeholder Governance — which equitably distributes voting power among various stakeholders within the DAO. This model was first presented at the EthCC conference by Mangrove governance lead, PhilH, and following discussion on the forum, it was ratified unanimously via a Snapshot vote (MIP-#1).
In February 2024, this governance model was activated with two critical votes: the Early Core Contributor Allocation (MIP-#2) and the first version of the Governance Process (MIP-#3). The latter, particularly significant, was designed to streamline our governance process, enhancing clarity and consistency in our decision-making.
Simultaneously, the council elections were conducted for the first half of 2024 (February-July). The election of council members is essential for upholding effective governance at MangroveDAO. By electing qualified individuals, the DAO guarantees that it operates efficiently and remains aligned with its strategic objectives.
After several candidates put forward their applications, we are pleased to announce the election result:
| Protocol Council | Ecosystem Council |
|---|---|
| Jean Krivine | philh |
| DanielRX | vd21 |
| Gabi | Guillaume Garchery |
| Maxence Raballand | Pierre Laurent |
| vd21 | Gabi |
| bryce_gabari | |
| Jamil Bouhdada | |
| Victor | |
| Alex BertoG |
Shortly after the elections, Jamil Bouhdada resigned. Disiaque, the next candidate on the list, replaced him.
Initial deliberation and decisions
The Ecosystem Council has been holding one to two meetings per month since its inception.
The first session served as an opportunity to review the high-level principles of the council. The council represents all stakeholders and sets the overall strategy for MangroveDAO. A quick roundtable allowed each council member to share the areas they intend to contribute to. This confirmed the diversity of skills present within the council, including business development, secretarial and reporting activities, and the establishment of KPIs; each member’s expertise was clearly established.
Here are the decisions made by the Ecosystem Council over the period:
| Date | Decision |
|---|---|
| May 30th, 2024 | Submission of the first MGV budget of the Ecosystem Council |
| June 6th, 2024 | Mandate to launch on Blast |
| June 27th, 2024 | Mandate to open BLAST/USDB and BLAST/WETH on Blast |
| July 18th, 2024 | Mandate to launch on Arbitrum and authorization to open 10 markets there WETH/USDC ; WETH/USDT ; WETH/WBTC ; WBTC/USDT ; ARB/USDC ; ARB/USDT ; ARB/WETH ; USDC/USDT ; ZRO/WETH ; PENDLE/WETH |