Challenges

During the past few months of market downtrend, many projects in the digital asset economy have been forced to make difficult choices and pursue alterations to their original plan of action to ensure continued survival. With BitShares, the decision making process around those choices is determined by voting on proposals submitted by stakeholders. Being that CryptoBridge is built on the blockchain’s platform, it bears responsibility in being involved.

All stakeholders have voting power, but smaller stakeholders (whose voting weight has less impact) are able to set up a proxy to vote in their interests. As a large stakeholder in the BitShares ecosystem, we have decided to become a proxy to represent the users of our platform. CryptoBridge generates over 80% of the volume on the BitShares Network and thus has an extremely relevant voice to share in the network.

 

Proactive Steps

In light of these considerations, we have recently reached out to the BitShares Committee members and we have chosen to to assume a role of greater responsibility by being more involved with the direction that BitShares takes as a whole. Aside from encouraging our users to set CryptoBridge as their proxy, we will begin to coordinate with the committee to assist with communicating relevant and important developments to the greater user base at large.With CryptoBridge acting as your proxy, we will make sure to vote for proposals and witnesses/committee members that will bring forward arrangements that are most balanced in serving users and the ecosystem at large.

To learn how to set a proxy, make sure you have the advanced features setting set to “on” and then follow this tutorial in the BitShares documentation. Enter the account “cryptobridge” into the field below the Committee tab:

 

A Unified Message

We’d like to take this opportunity to thank the committee members for their professionalism, timely responsiveness and willingness to engage with us in a cooperative manner. We are quite pleased with the efforts so far, and look forward to continued opportunities to collaborate and help foster growth in our common soil.

 

#thinkdecentral