Hi @zaccheah ,
I highlighted the issue with the struggle the community faced when we were canvassing for 75Mfx staking requirement to activate fx mainnet launch. back in May/Jun 2021. Eventually, I believe company holdings from PUNDI X and founders’ token kind of brought us across the line. I understood the rationale of encouraging the community to stake before “Devine Intervention” from PUNDIX and FX the entities.
We now have 2 proposals for f(x)Core (1 from Pundi X the company, and 1 from the community) that the community is being urged to vote on to bring us across 40% quorum. Both are sitting on the low single digit percentage quorum at the time of my writing this message. Similar to the previous 75M fx staking requirement, there is probably near zero chance that the proposals can be voted in without votes from Pundi X the company and founders’ token. That effectively means an entity and a small group of people still has the veto power to approve f(x)Core proposals and will have such veto power for the foreseeable future until token ownership becomes more decentralized and more active governance participation becomes entrenched within the general token holder community.
I hope the idea of operating an OTC Desk for trading FX and PUNDIX can be revisited. Whether we like it or not, we need a transparent way to further decentralize the ownership of FX and PUNDIX tokens at some stage of the project’s development. Otherwise, we will just continue to see voting on proposals languish without any chance of hitting quorum until and unless PUNDIX the company and founders support them.