Hey everyone, this is Connor with Consensus Networks. We run a validator on Cosmos and have been validating since early in Cosmos Hub 2. We have been wanting to get more involved in the community and felt that this is an area we can really add some value to the community. We support quite a few different networks with different governance structures and approaches and hope to bring the lessons learned and best practices we have found across all of our experiences to the Cosmos.
Governance is closely intertwined with the decentralization of any network and bringing in a diverse range of stakeholders is critical to creating any effective governing body. We have been conducting a lot of research on decentralization and governance across multiple networks and believe a working group like this is necessary, especially as a network becomes more decentralized. If economic incentives are coupled too closely with governance, then you run the risk of a handful of network participants essentially dictating the network. We believe decoupling the two is the only way to ensure that checks and balances are kept between the different participants in a decentralized network, community interests are reflected, and the network will continue to act in the best interest of all parties.
Additionally, without a dedicated group focused on governance, the process can be arduous and the network can fall into the ‘tragedy of the commons’ dilemma wherein those responsible for governance let there responsibility slide, trusting that others will pick up the slack. Having a dedicated group responsible for governance allows those who are passionate about the protocol and how it evolves in a way beneficial to the community as a whole to efficiently and effectively coordinate proposals, refine them, and then proceed with implementation.
We support Gavin’s Charter for the Cosmos Governance Working Group and are eager to contribute in any capacity we can. For what is worth, and any who are interested, I have been conducting research about the evolution of decentralized networks, how the interplay between governance and decentralization influence one another, the issues networks have had and some of the pros and cons of different approaches. I have been publishing the findings here. These findings coupled with our experience in governing across other networks are what have fueled my belief of the importance of having a separate community focused governance group like Gavin is proposing.