Community Spotlight: KYVE

Commonwealth Team -

What is KYVE?

KYVE provides data rollups-as-a-service (DRaaS), streamlining reliable historical data storage, validation, and accessibility to ensure blockchains and dApps have unmatched scalability and seamless integration with a modular stack. KYVE’s approach is geared towards providing trustless, scalable, and secure data archiving, which is critical for various applications, including blockchain networks, decentralized applications (dApps), and more.

How Does the KYVE DAO Work?

KYVE operates as a DAO, which means that the governance of the network is handled by its community members through a decentralized voting system. Here's an overview of how the KYVE DAO functions:

  1. Proposal Submission:
    1. Any community member can submit a proposal to the KYVE DAO. Proposals can range from changes in protocol parameters, creation of new data pools, budget allocations, or any strategic decisions impacting the network.
  2. Discussion:
    1. Submitted proposals enter a discussion phase where community members can debate, ask questions, and provide feedback. This is a crucial step to ensure that all aspects of the proposal are thoroughly considered before voting.
  3. Voting:
    1. After the discussion phase, proposals move to the voting stage. Validators and stakers can vote on the proposals. The outcome is determined by the majority vote, and depending on the proposal, there may be different voting options such as YES, NO, NO WITH VETO, and ABSTAIN.
  4. Implementation:
    1. If a proposal passes, the necessary changes are implemented by the relevant parties. For instance, if a proposal to create a new data pool is approved, the pool will be set up according to the specified parameters.
  5. Feedback and Iteration:
    1. The DAO continuously evolves based on feedback from the community. Proposals can be revisited, and new proposals can be introduced to improve or refine existing processes and parameters.

The working version of the governance process can be found here.

Top Contributors

  1. Crosnest:
    • Crosnest is a significant contributor involved in various proposals and discussions within the KYVE DAO. They have proposed changes like reducing operating costs for the Cosmoshub pool, reflecting their active role in optimizing the network’s efficiency.
  2. KYVE Foundation:
    • The KYVE Foundation plays a pivotal role in the governance and strategic direction of the network. They propose new data pools and significant upgrades, ensuring the protocol's continuous growth and adaptation to new requirements. The foundation also focuses on proposing initiatives to further drive and support the network
  3. Validators and Community Members:
    • A group of active validators and community members consistently participate in discussions and voting, ensuring the network’s decentralized governance model operates effectively.

Example Proposals

  1. Data Pool Creation: Axelar:
    1. A proposal by the KYVE Foundation to establish a new data pool for validating and archiving historical Axelar blockchain data onto Arweave. This proposal included detailed parameters for testing on the Kaon testnet before moving to the mainnet, aiming to ensure thorough validation and archival processes.
  2. Slash Indemnification Program Proposal:
    1. The KYVE Foundation proposed a Slash Indemnification Program to support Protocol Validators within the KYVE Network by mitigating the impact of unforeseen technical issues leading to slashes, enhancing network stability. The Foundation would allocate 2.5M $KYVE for this program which would initially refund a recent slash incident, and would limit participation to 16 slots to ensure effective resource management and oversight.

How to get Involved

KYVE launched their grant program which aims to provide dedicated funding for positive developer contributions that foster innovation around KYVE’s protocol, trustless datasets, and data tooling. More information about the grant program can be found here.

KYVE always appreciates its community’s feedback and contributions. The forum is the perfect space for these contributions and feedback!

Conclusion

KYVE’s DAO governance model empowers its community to shape the future of the network collaboratively. By involving validators, stakers, and contributors in the decision-making process, KYVE ensures that its decentralized data lake remains efficient, secure, and scalable. The active participation of top contributors like Crosnest and the KYVE Foundation highlights the dynamic and engaged community driving KYVE’s success.