USDC: First Off-Chain Community Vote for Asset Onboarding

Happy Tuesday everyone! Today we’re kicking off the forum-based community vote to move forward with proposing USDC as an asset type on Jet Protocol.

Since the launch of Jet Protocol V1 in October 2021, USDC was the default and only stablecoin listed within the app. We are using USDC as an example of an ideal (and first) collateral type to add to Jet as it’s a fairly uncontroversial option for discussion. The point of using USDC in the first voting process is moreso to highlight how the JetDAO will evaluate and act on collateral onboarding proposals on a rolling basis through governance henceforth.

Within this forum post, the Jet community will have an opportunity to cast an informal, forum-based vote on the USDC collateral onboarding proposal. This part of the process is to gain community consensus that this is a proposal that they want to see move forward. In the future, there will be formal governance committee evaluations of each proposal that comes through and passes a community forum vote before going to an on-chain vote. The results of the community forum-based vote will be included as consideration in the formal review process.

However, for this case to highlight the process, the USDC collateral onboarding application and evaluation will be discussed and voted on in the forums for 7 days. On-chain voting will then kick off afterwards and proceed for 7 days as well.

Should JET/USDC be included as an asset type on Jet Protocol?
  • Yes
  • No

0 voters

8 Likes

Let the Governance process begin!

6 Likes

Great start to governance… Hope to see more members voting!

5 Likes

LET’S GO

4 Likes

Be there with bells on!

2 Likes

Eat your wheaties - we have a lot of these collateral onboarding proposals to get through.

4 Likes

Glad to have you back and active @mrblueSG! We’re ready to work on onboarding all these fantastic assets

2 Likes

best way to go about it right here. let’s get it started.

2 Likes

What gate are we taking off from?

1 Like

gm governance! Love this initial poll as a barometer of community consensus.

Can’t go wrong with the most redeemable stablecoin out there.

Excited to see more of these polls on the forum.

3 Likes

5 days to go you all! If you haven’t weighed in, the clock is tickin! :mantelpiece_clock:

1 Like

Nice, I’m glad to see the governance process evolve. (x) voted :slight_smile:

1 Like

In support of this.

This is a great start to governance.

3 Likes

Dear Readers:

In the spirit of continuing the USDC onboarding process, we are pleased to share the first result of the off-chain voting and a summary of the community discussion for this asset. Along with this, a summary of the CODEC evaluation that the USDC asset has received from the Governance Committee is provided below.

We invite Jet Token holders to cast their vote in the on-chain poll for USDC. The information below has been curated to support Jet Token holders’ decision making on this application.

The next step for onboarding USDC to Jet Protocol is on-chain voting, where to participate you will need to have at least 1 staked Jet Token on our governance platform.

On-chain voting for USDC will occur at https://govern.jetassociation.org/ starting Wednesday, May 25th. This on-chain vote will run for 7 days.

Thank you for your patience, participation, and feedback on this process so far!

[Summary of the Assessment] - $USDC-SPL USD Coin

The following summary exposes the key points from the USDC-SPL collateral onboarding domain evaluation criteria. Click this link for the full version of the asset’s application.

The full evaluation summary can be found here.

Overall, the Jet Governance Committee endorses USDC-SPL to move forward with an On-Chain vote :white_check_mark:

Community Vote Summary:

With 100% positive votes for the acquisition of USDC as collateral in Jet, the proposal has resulted in: Yes.

Community Discussion Summary:

At the same time, the comments from users in the posting have reflected great enthusiasm and motivation to continue having this asset on the platform.

4 Likes

Kudos to the dev team. I’m active in governance for a few other projects, and the voting module for JET is absolutely top notch.

Keep up the great work!

2 Likes