First on-chain collateral vote amid crypto market chaos

hey JetDAO frens - just wanted to drop in and see how everyone’s doing. Last week was a tough one - Jet’s been unaffected at a fundamental level by the Terra/UST blow up, but psychologically we know lots of people really got hurt in the process of dealing with this event and it’s heavy.

We originally planned to have our first collateral onboarding governance vote last week but decided it was best to hold off until more of the dust had settled in regards to the aftermath of Terra’s fall and the subsequent drama that has ensued.

That being said, it’s important we move to get our first governance vote going - wanted to check in with the group and take the temperature on timing in this week and the coming weeks on getting governance going towards our first on-chain vote?

Technically we are ready to go (and have been for a few weeks) and wanted the timing to be right. We aim for maximum engagement on the first vote, which will be essentially a test-run of the process for USDC so we can start move through the backlog in a timely and efficient manner.

What are we thinking?


I think anytime is fine but in general, people lose interest in governance quite quickly. So in the long term, if we are interested in having consistent governance engagement and voting, it’s good to have various stake holders that are willing to do so in the long term such as delegates.


I am ready.

We probably should be on lookout for people who can vote/govern even in these adverse environments.


i think we can proceed with the voting process at anytime, not everyone in the community interested in governance and long term vision of the protocol. we can’t because of low participation/contribution from members to delay the necessary things to do. as we kickstart the on-chain voting process, more active governance participants will join us in due time.


good call here - thank you!

long term delegates are something we need to consider, i agree. in the meantime it’s time to kickstart the process

Whoever is still around we appreciate it!


I think it would be best to move forward with voting as soon as possible. As you said, JET was fundamentally unaffected by the Terra fiasco.

Continuing development and progress is good for the protocol and sends a positive message to the broader market IMO.


Definitely - we just posted - please do check it out and vote!

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Bouncing on this. It’d be great to see delegates soon, as a few members will continually show up in the forums and discuss topics. Those few members are the ones that we can rely on to push Jet Protocol forward in a safe and decentralized manner.

Delegates will be one of the keys to successful governance, and we look forward to when Jet Protocol implements them!


Thanks for sharing your opinion on this Bobby!

Hey Bobby,

It would be great to see a separate thread on Delegates. I’m somewhat familiar with the MakerDAO implementation but I’d love to hear your thoughts on how you see that forming up in the Jet community and if you have any helpful resources.


Hey Adam,

Yeah sounds like a good idea to discuss this further. I’ll spin up something soon!