This post summarizes the results of Cycle 13 of the Bisq DAO.

Summary

• Cycle took place between blocks 627,907 and 632,586
  • Calendar dates: 04/27/2020 - 05/30/2020
• 35 proposals
  • 2 bonded role proposals
  • 4 proposals to change a parameter
  • 2 generic proposals
  • 2 reimbursement proposals
  • 25 compensation requests
• 266 votes cast
• 43,914 BSQ issued for compensation (98,121 BSQ was issued in total, of which 53,286 was for reimbursing an arbitrator and 921 was for a reimbursement)
• 8,017 BSQ was burned for trading fees (129,625 BSQ was burned in total, of which 121,500 was from proof-of-burn transactions that consisted of BTC trading fees and arbitrator reimbursements)

Please note that the proof-of-burn transactions and arbitrator reimbursements do not map neatly to DAO cycles, meaning that some of the funds involved with these issuances (and burns) are from previous cycles.

Proposal Details

Improve arbitrator incentives

Generic proposal (link)

Accepted

This proposal established a per-case compensation rate for arbitrators (50 USD), as well as a 1% interest rate on BTC paid out in a cycle.

The arbitrator role is a risky, capital-intensive one, and these standards seek to better align the rewards with the risk. At the same time, these arbitration expenses can add up to a considerable sum, so they also act as an incentive for the DAO to reduce arbitration cases.

Establish security team

Generic proposal (link)

Accepted

As a result of the April security vulnerability, a new Security team has been established as a core function to handle thorough auditing, responsible disclosures, bounties, and more, to make sure such an incident doesn’t happen again.

Increase maximum reimbursement request amount

Parameter change proposal (link)

Accepted

Before Cycle 12, the upper limit for a compensation request was 100,000 BSQ while the upper limit for a reimbursement request was only 10,000 BSQ. As a result, because the arbitrator’s reimbursement requests would often be rather large, they had to make compensation requests instead of reimbursement requests.

The parameter change in this cycle increased the maximum reimbursement amount from 20,000 to 40,000. The goal is to increase this parameter to 100,000 over the next 2 cycles (it cannot be increased to 100,000 at once because the maximum single change allowed for this parameters is 200%).

Adjust BSQ trading fees

Parameter change proposal (link)

Accepted

BSQ fees were adjusted to account for BSQ price fluctuation during the previous cycle. See details on the general process for these fee adjustments here.

Proposals for bonded roles

Keybase admin (link); BTC Donation Address Owner (link)

Accepted

cbeams was approved to post bond for the Keybase Admin role (only the team owner needs to post a bond), and burningman3 was approved to post bond for Donation Address owner role (burningman2 bond is currently unlocking).