BabelFish Community Update: New Proposals, Delegate Introductions, and BIP-0005 Vote Update

We are excited to announce that there are two new draft proposals published in our forum. BIP-0006: Add DLLR and Migrate DOC and ZUSD Liquidity aims to swap DOC and ZUSD deposits for DLLR, providing direct exposure for users willing to swap their centralized stablecoins to Sovryn Dollar through the BabelFish aggregator. BIP-0007: Lending Out DLLR to Generate Yield proposes to lend out a portion of BabelFish’s collateral DLLR on Sovryn’s lending pool. We believe that both of these proposals bring a lot of value to the project, and we encourage everyone to participate in the discussion and provide feedback.

We have added a new category on our forum where users can introduce themselves as delegates. Since the unfortunate outcome of BIP-0005: Emergency Deposit Pause Feature vote, this will allow community members, who are unable to vote in person, to select delegates who will represent their interests in Bitocracy votes. How to delegate Voting Power is described in the last section of this tutorial: https://babelfish.gitbook.io/the-babelfish-gitbook/tokens/staking

Regarding BIP-0005: the Emergency Deposit Pause Feature — as informed earlier, although it had 100% support, it failed to reach quorum due to some unfortunate issues. During the vote, our Bitocracy platform went down for a couple of hours, and additionally it was reported to us that some hardware wallet users were unable to cast their votes. We are currently investigating these issues and hope to resolve them soon. However, if it will require more time and effort, in parallel we are exploring other methods of voting, such as through snapshot.org, to ensure that everyone who would like to cast their vote is able to do so. Since BIP-0005 is a crucial safety feature and the mentioned issues took place, we are considering recapturing the vote.

Stay tuned for more updates and thank you for your continued support and participation in our community.