This post summarizes the results of Cycle 10 of the Bisq DAO.

Cycle 10 was a transitional cycle for the Bisq DAO as it implements a new management structure and budgets discussed in this post. Teams were established for core functions, teams began executing on top project priorities, and core administrative processes like compensation request reviews were overhauled.

More work on this transition continues into Cycle 11. Notable items in progress are a new project management process and rolling out the Bisq wiki.

Summary

• Cycle took place between blocks 613,867 and 618,546
  • Calendar dates: 01/21/2020 - 02/22/2020
• 31 proposals
  • 4 generic proposals
  • 2 parameter change proposals
  • 25 compensation requests
• 353 votes cast
• 82,060 BSQ issued for compensation
• 52,107 BSQ burned from BTC trading fees and disputed BTC funds

Cycle 10 was the first cycle to follow Bisq’s new budgeting guidelines. The budget of 60,000 USD (89,552 BSQ at the issuance rate of 0.67 USD per BSQ) was respected in spite of:

• the refund agent did not make a compensation request in this cycle, so it’s not possible to know how much of the 52,107 BSQ burned was from disputed BTC funds.
• a one-time charge of 44,776 BSQ for the Bitcoin 2020 conference presence. This expense was budgeted for growth as a monthly expense but charged at once in Cycle 10 because there was enough room in the budget to reimburse the contributor who fronted the money. Practically, this means that the growth budget for the next 11 months will be 8,200 USD (2,500 USD less than the 10,700 budgeted).

Proposal Details

Proposals for bonded roles

Bitcoin node operator (link); Seednode operator (link); Markets API operator (link); Twitter admin (link)

Accepted

These proposals were for wiz and m52go to post bonds for the roles listed above. Bonding is a key element of DAO governance. A little over 300,000 BSQ has now been locked up in bonds for high-trust roles, and a role audit is now underway to ensure remaining bonds are posted as required.

Raise BSQ fees

Parameter change proposal (link)

Rejected

This proposal would have doubled BSQ fees from 10 BSQ to 20 BSQ (maker) and 30 BSQ to 60 BSQ (taker) per 1 bitcoin traded on Bisq. Sharp increases in BTC and BSQ prices made the proposed fee increases unreasonable at the time of DAO voting—the proposal was made just after the start of the cycle when prices were much lower.