Change of Process

Posted: [Source]
Tags:  DIF Process

Dear MNO Community,

Over the first term of the Dash Investment Foundation, the previous round of supervisors made an operational decision that the current round of supervisors feel is ineffective in the way the DIF currently operates. Legally, the DIF supervisors have a fiduciary duty to the network and have operational control over the funds the DIF holds.

In the course of DIF business operations, DIF supervisors are meeting and discussing many sensitive and private topics with potential investment opportunities - topics which are necessary to assess the risks and opportunities that may result from an investment - and are at most times legally bound (e.g., under NDA) to not discuss the information shared.

Many community members express the frustration of being asked to weigh in on DIF investment opportunities through decision proposals without the benefit of full access to information. It is impossible for MNOs to effectively assess opportunities in this manner. We therefore feel that as representatives of the network entrusted with our roles as supervisors, we should act in the best interests of the network as intended.

In order to more streamline the operations within the DIF to be able to offer the network the best service in terms of directing investments toward the best opportunities; the current round of supervisors has taken a unanimous decision to discontinue seeking MNO approval for each individual investment decision. The DIF supervisors will instead exercise their responsibility to make investment decisions on behalf of the network, allowing the MNO community to continue to influence the operations of the DIF via the selection of the supervisors and funding proposals.

Seeking approval for each investment was well-intentioned. While we value decentralization, we also recognize that tasking the MNOs with decision making that could only be effective with information inaccessible to them makes little sense. We believe this new approach will result in better outcomes for the network we represent.

-DIF Supervisors