This week marks the conclusion of the 2022 Dash Trust Protectors (DTP) elections. Zaimirai partner Patrick Quinn has served the past year, so our organization has seen how it works from the inside. Dash is a decentralized blockchain platform, and the DTPs help keep the system in balance, even when major challenges arise. Since it’s a newsworthy topic, and perhaps one that is misunderstood, we wanted to share insights on what Dash Trust Protectors bring to the Dash community.
2022 Election Period
Details of the election are available at https://vote.dashtrust.org/.
|April 4, 2022 – April 14, 2022
||Open Masternode voting period
|April 15, 2022 – April 16, 2022
|| Vote tallying and validation
|April 17, 2022
The Dash DAO Irrevocable Trust
The Dash Core Group (DCG) is responsible for developing and promoting Dash cryptocurrency. Formed in 2017, the Dash Decentralized Autonomous Organization (DAO) Irrevocable Trust owns 100% of the shares in DCG. The trust oversees DCG, holding DCG accountable to the Dash network and ensuring that DCG is working in the best interests of Dash. By design, Dash Core Group is a cost-center. The Dash Trust has four primary roles:
- Own the shares of Dash Core Group.
- Reassign the DCG board in the event masternode owners request it.
- Assign or hire the trustee of the Trust.
- Hold and manage other passive assets that belong to the network (e.g., patents, trademarks).
The Dash DAO Irrevocable Trust was established in New Zealand based on its strong reputation and well-defined trust laws.
Dash Trust Protector Role
DTPs are elected for a one year term by the masternode owners (MNOs). Being a DTP does not require a full-time commitment, although there are regular meetings held each month. It is definitely an event-driven role, however, as DTPs are called on to make decisions in emergencies. A DTP does not have to be a masternode owner, but many times it is the case — it’s a way for MNOs to protect their “skin in the game”. That is, their interests truly align with Dash success.
To be eligible, DTP candidates must provide valid ID and proof of residence. The trustee must perform KYC checks before confirming each appointment. DTPs must be of legal age, have full mental faculties, not be a felon, not have any conflict of interest, and not be a citizen of Iran, North Korea, Syria, Sudan, or Cuba. In addition, candidates must not appear in the list of Specially Designated Nationals (SDN) from the US Department of the Treasury.