Eco Association Update: November 2024
Welcome to the Eco Association’s monthly newsletter. We cover developments in the Eco Protocol and the broader community.
Let’s get to it.
Governance Updates
A substantial governance proposal was submitted and passed this month that will simplify and better formalize Eco Governance as the project moves into its stablecoin era.
This proposal, which was submitted by the Eco Association on November 24th and voted into effect thereafter, sought to massively simplify governance by moving from our previously bespoke governance construct (involving many custom contracts) into a much simpler Snapshot-based system, which will improve the governance experience substantially for voters.
It also sought to create the construct of a Security Council as well as to instantiate the Eco Foundation, a Cayman-based Foundation, as a DAO wrapper.
You can read the full proposal here.
Protocol Governance ⚖️
In November, we had one proposal submitted via governance — the proposal detailed above! — which passed and was executed onchain.
Protocol governance is currently paused until the Security Council is instantiated, and should be back up and running soon. As described above, the governance experience will change (and voting will become easier and no longer cost-prohibitive!) and we will share more on that in next month’s newsletter.
Community Events & Happenings
👀 At Devcon, the Hyperlane team spoke about Eco & Bend on stage in a live demo during the Chain Abstraction Summit. Check out the video on the Eco Discord.
🎥 Eco Inc CEO Ryne Saxe joined Genzio Media to explain the protocol and how it enables apps to unlock stablecoin liquidity.
📝 Annika Lewis, Director of the Eco Association, announced the beta test version of her new Stablecoins 101 course, which will run in December
🎧 Jay Kurahashi-Sofue, CMO of Eco Inc, was on a marketing panel at Devcon: “Reaching 1 million+ users in web3: Hype or strategy?”. Watch it here.
✏️ The Eco Inc team co-drafted an Arbitrum Improvement Proposal for adding support for EIP-4788 within Arbitrum’s Nitro stack. Read it here.
This email is for informational purposes only and all token-related updates are compiled from publicly-available sources (as described below). It should not be construed or relied upon as financial advice and it is not an offer or recommendation to buy or sell any asset or enter into any transaction. The development and operation of the Eco network is decentralized, so any protocol upgrades discussed above that have not yet been implemented remain subject to community governance approval. Nothing in this email is confidential and all material information contained herein is publicly available to members of the Eco community through its Discord, community update calls, independent third party websites, on-chain transaction records, and other open channels.