TLDR:
- Starting on July 27th, 2022, eligible users will be able to nominate themselves to become Enzyme User Representatives (EUR) for the Enzyme Council
- Users are considered eligible if they meet the eligibility criteria listed below
- EURs are designed to collect, prioritise and deliver user feedback to the Enzyme Council on behalf of users
- There are 2 EUR seats available currently; voting will end on October 21st at 23:59 BST
The History of Enzyme User Representatives
The first-ever EUR elections took place in Q1 2020, when Felix Hartmann and Giel Detienne were nominated to join the Enzyme council. Both EURs have done a fantastic job, however, in that time period the number of users exploded and TVL on Enzyme grew from $2m to a high of $230m.
In the spirit of equal representation, it’s only fair that we hold re-elections to make sure we are staying true to our goal of being user-representative.
Therefore, we are happy to announce that starting on July 27th, 2022, users will be able to nominate themselves to become Enzyme User Representatives (EURs) for the Enzyme Council. Nominations for the position will close on September 19th. Voting will commence on September 23rd, 2022 and continue until October 21st, 2022. The Enzyme council will confirm the successful applicants on October 22nd, 2022.
There are 2 seats available for qualifying applicants. You can find further information on the eligibility criteria, selection process and timelines below.
What are Enzyme User Representatives?
Enzyme User Representatives (EURs) are designed to collect, prioritise and deliver user feedback to the Enzyme Council on behalf of users.
The aim is for the Enzyme Technical Council (ETC) and EURs to maintain a close relationship and preserve a healthy feedback loop. The ETC is required to address concerns raised by the EURs, and both sub-committees should work together at defining and prioritising the pressing needs of the users of the Enzyme network.
The ETC is made up of a diverse set of people and entities. The initial members were appointed by the Melonport AG team prior to the launch of the Melon Protocol in early 2019 (later renamed Enzyme). Subsequently, more additions to the council have been made and have to be approved by two-thirds vote of existing MC members.
Am I eligible to become an Enzyme User Representative?
Only eligible users are able to nominate themselves to become an EUR. Below we have outlined the eligibility criteria and requirements — please note that your nomination will not be successful if you fail to meet the conditions outlined below.
- Eligible vault managers must manage more than 0.25% of the total Enzyme AUM for at least 3 months prior to April 14th, 2022, measured in ETH terms
- Eligible vault managers must maintain this threshold for the duration of their membership to the Council.
- Willingness and ability to dedicate time and resource to Council activities
- High evidenced ethical standards and good reputation
- Willingness to reveal identity
- Full up front disclosure of any conflict of interest before joining the Council and notifications of any changes which arise thereafter
- Full up-front disclosure before participating in a vote where the member has a conflict of interest with the outcome and abstaining from that vote
- Confirmation that you are acting on your own behalf and not any undisclosed beneficiaries
- You will need to create an account in the Enzyme app in order to apply
Where can I apply?
You can apply to become an EUR in the ‘Account’ section of the Enzyme app. Below we have included a screenshot to help you navigate the app and select the correct application form.
Once you select ‘Apply Now’, you will be taken to the Apply form which includes the details listed in the screenshot below. Please take the necessary time required to discuss your experience with Enzyme, any other relevant governance experience and your motivation to apply to be an EUR.
Who can vote in the election?
In order to vote in the election you will need to create an account on the Enzyme app. You can either create a new account or link your existing wallet during the account creation.
To do this, follow the instructions on the link above or simply navigate to the ‘Account’ section on the Enzyme app. By creating an account you will also be able to stay on top of new product features and releases, which helps you get the most out of your vault.
To vote in the elections, you will need to be the owner or asset manager of a vault. Any vault owner or asset manager is able to participate in the voting process (there are no voting requirements such as vault AUM).
The decision-making process around this vote will be open and transparent to the community, and the Enzyme Council will be responsible for providing context for their decisions.
What are the timelines?
The EUR election process is designed to provide a fair, simple and transparent opportunity for anyone that meets the eligibility criteria. There are several key dates and milestones to be aware of should you wish to nominate yourself for the EUR position.
- July 27th, 2022 — Nominations begin
- September 19th, 2022 — Nomination period ends
- September 23rd, 2022 — Elections begin and voting will commence
- October 21st, 2022 — Voting closes
- October 22nd, 2022 — New EUR members announced
If you have any questions about the application process, please contact the Enzyme team on Telegram.
