Keep and NuCypher Merge Proposal and its Vote Structure

This article outlines the hard-merge proposal between Keep and NuCypher and its voting methodology.

After the positive feedback from both Keep and NuCypher communities, together we are proposing the first hard-merge of two on-chain and live projects.

The proposal can galvanize both communities by joining efforts for our shared goals: Driving the adoption of threshold cryptography, privacy-preserving technology, and decentralized Bitcoin on Ethereum. Both communities are aligned, with stakers who want to realize the vision of a freedom-preserving world built on cryptography, and developers who refuse to compromise when it comes to end-user security.

What We Can Expect from KEANU Hard-Merge?

With consent from the Keep via its community governance system, a hard merge with the NuCypher protocol would form an extended network in a 50/50 on-chain collaboration between both communities. Follow some aspects to be considered about the merge:

• The number of the total candidate stakers for the unified protocol can be as many as 2200 at launch.
• A 50/50 DAO will be established to govern this contract, making sure the participation of both NU and KEEP remains balanced.
• This entails will allow both communities to rally behind a new network inheriting the best aspects of each.
• Both development teams will remain independent.
• A potential new community-driven staking contract that supports both NU and KEEP as work tokens.
• As the first on-chain hard merge, it has the potential to positively define how collaboration in our space works going forward while providing material benefits to both projects and establishing the combined network as the leading BTC-ETH bridge.

Keep Governance and the Hard-Merge Proposal

The current governance structure of Keep V1 is centered on eight multi-sigs members directly elected by the community as their democratic representatives. The primary goal is to empower the Keep community to make actionable decisions that impact the network in a streamlined way.

The original hard-merge proposal between Keep and NuCypher has received much positive feedback on the governance forum and had a great reception from the Keep community, as can be seen here.

According to the latest vote proposals created by the multi-sigs, the active capital of the voter was used as a parameter of voting power, whether the active capital of the network staker (Who has the skin in the game) or of KEEP holders — And this time it will be no different.

Vote Methodology for the proposal

The methodology was first introduced by the multi-sig and prominent member, Ben Longstaff, and then was debated among the multi-sigs, Keep team, and community members in Discord. In the end, the method structure initially introduced by Ben was accepted unanimously by those involved and this will be the methodology used for voting for the Keep and NuCypher hard-merge.

Below are the details of the voting methodology that will be used for this proposal:

1. First, a staker signal to get the voting register from the active capital in the network.
2. If the ‘Yes’ votes from the stakers are greater than a 2/3 majority for the motion then the vote would move to a (5 of 8) multi-sig members vote to ratify the decision.
3. In the event that there are less than a 2/3 majority stakers affirmative votes, then a new snapshot vote is opened to all KEEP token holders, if 51% of token holders vote ‘Yes’ then the vote moves to a (5 of 8) multi-sig vote to ratify the decision.

One of the main reasons for using this vote methodology on the hard-merge proposal is that it’s important for the community that the stakers supermajority are in agreement for such a crucial decision.

Why is the vote for the Hard-Merge proposal important now?

The community decided to start with a more general pro or con proposal for the following reasons:

• To provide a better timeline so that both communities and teams can get organized and start working together as soon as possible.
• In order to provide an official and needed clarity for both communities.
• It provides an opportunity for both communities to start working more closely with each other, governed by 50/50 governance in decision making.
• Enable the possibility of both communities to brainstorm together to outline the details about the future of the protocol.

Want to learn more and participate?

Community is everything for us, and we want to know your opinion about this proposal, read the original proposal here, and join our Discord to participate in the discussions!

• Your engagement in our governance forum is very important, as it is from there that we are outlining the future of our protocol, and you can make a difference in this process — Join the discussion.
• Keep Network team will share links in Discord about the vote snapshots soon — Don’t miss out.

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Did I Miss Something?

If I missed an important detail and you think it should be added here, just contact me (EvandroSaturnino#9833) directly through Discord on the Keep Network server!