CIP-0052 Monstera FZE as a SV at Weight - Eric Saraniecki
- Hello,
Please find the CIP-0052 open for discussion at the PR https://github.com/global-synchronizer-foundation/cips/pull/41. Full text below.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?Summary
Monstera FZE (“Monstera”) as a SV at Weight [3]
Monstera commits to bring at least 5 major users of Canton to the Network in the next 6 months
If Monstera overperforms and provides > 5 major users, it will earn 0.75 incremental SV weight (at the time the participant goes live on MainNet) for each approved participant above the 5 up to a total SV Weight of 5.25 possible
Motivation
Similar to the 5North Ecosystem Fund, the goal is to bring awareness to the network at a different level. Here we are looking to partner with industry leaders who can adopt the collateral, stablecoin and other products being deployed into the Network
Commitment
Monstera commits to deploy its own time and capital to bring these users to the Network
Monstera commits to integrate the new user with assets issued on the Global Synchronizer (eg USDC, USYC)
Example potential participants include (connection in parentheses):
APAC:
Tokyo Dome / Mitsui Fudosan (Chairman)
Sun Hung Kai & Co (CEO & Majority Shareholder)
Air Asia (Founder & CEO)
Middle East:
Mashreq Bank (CEO)
Dubai Stock Exchange (CEO)
Abu Dhabi First Bank (Board Member)
Europe:
Deutsche Bank (Board Member)
Munich Re (Board Member)
LATAM:
Salinas Group (Founder, Chairman)
The GSF Tokenomics committee commits to deliberate each proposed participant and clearly notify Monstera if the participant would count against the commitment quota
Coins are earned on the GSF SV and will be held by the Foundation in a segregated account until released to Monstera as each participant successfully joins the Network
20% of escrow holdings will be released with each approved participant joining the Network
20% of SV weight will be assigned to Monstera Validator with each approved participant joining the Network
Monstera will meet with the GSF Tokenomics committee once every 30 days and provide a progress report towards stated commitments
About David Stern and Witan Group
Monstera is the digital asset focused subsidiary of the wider Witan Group.
David Stern is Chairman of the Witan Group, a private investment company that operates from Hong Kong, Beijing, London and Dubai.
Mr Stern is currently Vice Chairman of Sphere Entertainment Co., a premier live entertainment and media company. The first Sphere venue opened in Las Vegas in September 2023 and is a next-generation entertainment medium that is redefining the future of live entertainment.
Mr Stern is a serial entrepreneur and started a China focused advisory business in 2001, before founding the data technology company CMDS which was sold in 2010 to a UK listed FTSE-250 company.
In 2016 Mr. Stern became Chairman of Celestial, a joint venture between his Witan Group and a Fortune 500 company. In 2017 Mr. Stern was a founding investor of Canoo, a US electric vehicle company, which listed on Nasdaq in 2020 at a US$ 2.4 billion valuation.
Mr. Stern is currently Supervisory Board Member of the Holy Fashion Group in Switzerland and Advisory Board Member of the University of Cambridge Judge Business School.
Proposed Changes
Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
GSF will distribute funds from extra weight to Monstera as commitments are met
GSF will distribute SV Weight to Monstera Validator as commitments are met
Dr. Amanda L. Martin
814-359-6544Director of Program Management What is they underperform, do they still get a weight 3.0?
From: cip-discuss@... <cip-discuss@...> on behalf of DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...>
Date: Friday, March 14, 2025 at 15:33
To: cip-discuss@... <cip-discuss@...>
Subject: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight [3]Hello,
Please find the CIP-0052 open for discussion at the PR https://github.com/global-synchronizer-foundation/cips/pull/41. Full text below.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?
Summary
- Monstera FZE (“Monstera”) as a SV at Weight [3]
- Monstera commits to bring at least 5 major users of Canton to the Network in the next 6 months
- If Monstera overperforms and provides > 5 major users, it will earn 0.75 incremental SV weight (at the time the participant goes live on MainNet) for each approved participant above the 5 up to a total SV Weight of 5.25 possible
Motivation
- Similar to the 5North Ecosystem Fund, the goal is to bring awareness to the network at a different level. Here we are looking to partner with industry leaders who can adopt the collateral, stablecoin and other products being deployed into the Network
Commitment
- Monstera commits to deploy its own time and capital to bring these users to the Network
- Monstera commits to integrate the new user with assets issued on the Global Synchronizer (eg USDC, USYC)
- Example potential participants include (connection in parentheses):
- APAC:
- Tokyo Dome / Mitsui Fudosan (Chairman)
- Sun Hung Kai & Co (CEO & Majority Shareholder)
- Air Asia (Founder & CEO)
- Middle East:
- Mashreq Bank (CEO)
- Dubai Stock Exchange (CEO)
- Abu Dhabi First Bank (Board Member)
- Europe:
- Deutsche Bank (Board Member)
- Munich Re (Board Member)
- LATAM:
- Salinas Group (Founder, Chairman)
- The GSF Tokenomics committee commits to deliberate each proposed participant and clearly notify Monstera if the participant would count against the commitment quota
- Coins are earned on the GSF SV and will be held by the Foundation in a segregated account until released to Monstera as each participant successfully joins the Network
- 20% of escrow holdings will be released with each approved participant joining the Network
- 20% of SV weight will be assigned to Monstera Validator with each approved participant joining the Network
- Monstera will meet with the GSF Tokenomics committee once every 30 days and provide a progress report towards stated commitments
About David Stern and Witan Group
Monstera is the digital asset focused subsidiary of the wider Witan Group.
David Stern is Chairman of the Witan Group, a private investment company that operates from Hong Kong, Beijing, London and Dubai.
Mr Stern is currently Vice Chairman of Sphere Entertainment Co., a premier live entertainment and media company. The first Sphere venue opened in Las Vegas in September 2023 and is a next-generation entertainment medium that is redefining the future of live entertainment.
Mr Stern is a serial entrepreneur and started a China focused advisory business in 2001, before founding the data technology company CMDS which was sold in 2010 to a UK listed FTSE-250 company.
In 2016 Mr. Stern became Chairman of Celestial, a joint venture between his Witan Group and a Fortune 500 company. In 2017 Mr. Stern was a founding investor of Canoo, a US electric vehicle company, which listed on Nasdaq in 2020 at a US$ 2.4 billion valuation.
Mr. Stern is currently Supervisory Board Member of the Holy Fashion Group in Switzerland and Advisory Board Member of the University of Cambridge Judge Business School.
Proposed Changes
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute funds from extra weight to Monstera as commitments are met
- GSF will distribute SV Weight to Monstera Validator as commitments are met
Dr. Amanda L. Martin
814-359-6544Director of Program Management
- toggle quoted message Show quoted textNo - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliverOn Mar 17, 2025, at 9:46 AM, Jan Hoenisch via lists.sync.global <jan.hoenisch=mpch.com@...> wrote:
What is they underperform, do they still get a weight 3.0?
From: cip-discuss@... <cip-discuss@...> on behalf of DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...>
Date: Friday, March 14, 2025 at 15:33
To: cip-discuss@... <cip-discuss@...>
Subject: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight [3]Hello,
Please find the CIP-0052 open for discussion at the PR https://github.com/global-synchronizer-foundation/cips/pull/41. Full text below.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?
Summary
- Monstera FZE (“Monstera”) as a SV at Weight [3]
- Monstera commits to bring at least 5 major users of Canton to the Network in the next 6 months
- If Monstera overperforms and provides > 5 major users, it will earn 0.75 incremental SV weight (at the time the participant goes live on MainNet) for each approved participant above the 5 up to a total SV Weight of 5.25 possible
Motivation
- Similar to the 5North Ecosystem Fund, the goal is to bring awareness to the network at a different level. Here we are looking to partner with industry leaders who can adopt the collateral, stablecoin and other products being deployed into the Network
Commitment
- Monstera commits to deploy its own time and capital to bring these users to the Network
- Monstera commits to integrate the new user with assets issued on the Global Synchronizer (eg USDC, USYC)
- Example potential participants include (connection in parentheses):
- APAC:
- Tokyo Dome / Mitsui Fudosan (Chairman)
- Sun Hung Kai & Co (CEO & Majority Shareholder)
- Air Asia (Founder & CEO)
- Middle East:
- Mashreq Bank (CEO)
- Dubai Stock Exchange (CEO)
- Abu Dhabi First Bank (Board Member)
- Europe:
- Deutsche Bank (Board Member)
- Munich Re (Board Member)
- LATAM:
- Salinas Group (Founder, Chairman)
- The GSF Tokenomics committee commits to deliberate each proposed participant and clearly notify Monstera if the participant would count against the commitment quota
- Coins are earned on the GSF SV and will be held by the Foundation in a segregated account until released to Monstera as each participant successfully joins the Network
- 20% of escrow holdings will be released with each approved participant joining the Network
- 20% of SV weight will be assigned to Monstera Validator with each approved participant joining the Network
- Monstera will meet with the GSF Tokenomics committee once every 30 days and provide a progress report towards stated commitments
About David Stern and Witan Group
Monstera is the digital asset focused subsidiary of the wider Witan Group.
David Stern is Chairman of the Witan Group, a private investment company that operates from Hong Kong, Beijing, London and Dubai.
Mr Stern is currently Vice Chairman of Sphere Entertainment Co., a premier live entertainment and media company. The first Sphere venue opened in Las Vegas in September 2023 and is a next-generation entertainment medium that is redefining the future of live entertainment.
Mr Stern is a serial entrepreneur and started a China focused advisory business in 2001, before founding the data technology company CMDS which was sold in 2010 to a UK listed FTSE-250 company.
In 2016 Mr. Stern became Chairman of Celestial, a joint venture between his Witan Group and a Fortune 500 company. In 2017 Mr. Stern was a founding investor of Canoo, a US electric vehicle company, which listed on Nasdaq in 2020 at a US$ 2.4 billion valuation.
Mr. Stern is currently Supervisory Board Member of the Holy Fashion Group in Switzerland and Advisory Board Member of the University of Cambridge Judge Business School.
Proposed Changes
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute funds from extra weight to Monstera as commitments are met
- GSF will distribute SV Weight to Monstera Validator as commitments are met
Dr. Amanda L. Martin
814-359-6544Director of Program Management
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - toggle quoted message Show quoted text
And what happens with any escrowed CC awards that go unearned as a result of failing to meet KPIs? Would they be distributed pro-rata to existing SVs in good standing?
That seems like the appropriate approach (technical complexity notwithstanding).
Side note, this is a good question to form a standard answer to for these structures going forward.
Thanks
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 8:53 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiNo - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver On Mar 17, 2025, at 9: 46 AM, Jan Hoenisch via lists. sync. global <jan. hoenisch=mpch. com@ lists. sync. global>
No - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver
On Mar 17, 2025, at 9:46 AM, Jan Hoenisch via lists.sync.global <jan.hoenisch=mpch.com@...> wrote:
What is they underperform, do they still get a weight 3.0?
From: cip-discuss@... <cip-discuss@...> on behalf of DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...>
Date: Friday, March 14, 2025 at 15:33
To: cip-discuss@... <cip-discuss@...>
Subject: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight [3]Hello,
Please find the CIP-0052 open for discussion at the PR https://github.com/global-synchronizer-foundation/cips/pull/41. Full text below.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?
Summary
- Monstera FZE (“Monstera”) as a SV at Weight [3]
- Monstera commits to bring at least 5 major users of Canton to the Network in the next 6 months
- If Monstera overperforms and provides > 5 major users, it will earn 0.75 incremental SV weight (at the time the participant goes live on MainNet) for each approved participant above the 5 up to a total SV Weight of 5.25 possible
Motivation
- Similar to the 5North Ecosystem Fund, the goal is to bring awareness to the network at a different level. Here we are looking to partner with industry leaders who can adopt the collateral, stablecoin and other products being deployed into the Network
Commitment
- Monstera commits to deploy its own time and capital to bring these users to the Network
- Monstera commits to integrate the new user with assets issued on the Global Synchronizer (eg USDC, USYC)
- Example potential participants include (connection in parentheses):
- APAC:
- Tokyo Dome / Mitsui Fudosan (Chairman)
- Sun Hung Kai & Co (CEO & Majority Shareholder)
- Air Asia (Founder & CEO)
- Middle East:
- Mashreq Bank (CEO)
- Dubai Stock Exchange (CEO)
- Abu Dhabi First Bank (Board Member)
- Europe:
- Deutsche Bank (Board Member)
- Munich Re (Board Member)
- LATAM:
- Salinas Group (Founder, Chairman)
- The GSF Tokenomics committee commits to deliberate each proposed participant and clearly notify Monstera if the participant would count against the commitment quota
- Coins are earned on the GSF SV and will be held by the Foundation in a segregated account until released to Monstera as each participant successfully joins the Network
- 20% of escrow holdings will be released with each approved participant joining the Network
- 20% of SV weight will be assigned to Monstera Validator with each approved participant joining the Network
- Monstera will meet with the GSF Tokenomics committee once every 30 days and provide a progress report towards stated commitments
About David Stern and Witan Group
Monstera is the digital asset focused subsidiary of the wider Witan Group.
David Stern is Chairman of the Witan Group, a private investment company that operates from Hong Kong, Beijing, London and Dubai.
Mr Stern is currently Vice Chairman of Sphere Entertainment Co., a premier live entertainment and media company. The first Sphere venue opened in Las Vegas in September 2023 and is a next-generation entertainment medium that is redefining the future of live entertainment.
Mr Stern is a serial entrepreneur and started a China focused advisory business in 2001, before founding the data technology company CMDS which was sold in 2010 to a UK listed FTSE-250 company.
In 2016 Mr. Stern became Chairman of Celestial, a joint venture between his Witan Group and a Fortune 500 company. In 2017 Mr. Stern was a founding investor of Canoo, a US electric vehicle company, which listed on Nasdaq in 2020 at a US$ 2.4 billion valuation.
Mr. Stern is currently Supervisory Board Member of the Holy Fashion Group in Switzerland and Advisory Board Member of the University of Cambridge Judge Business School.
Proposed Changes
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute funds from extra weight to Monstera as commitments are met
- GSF will distribute SV Weight to Monstera Validator as commitments are met
Dr. Amanda L. Martin
814-359-6544Director of Program Management
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.This e-mail and any attachments may contain information that is confidential and proprietary and otherwise protected from disclosure. If you are not the intended recipient of this e-mail, do not read, duplicate or redistribute it by any means. Please immediately delete it and any attachments and notify the sender that you have received it by mistake. Unintended recipients are prohibited from taking action on the basis of information in this e-mail or any attachments. The DRW Companies make no representations that this e-mail or any attachments are free of computer viruses or other defects. - toggle quoted message Show quoted textI think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want.I think better if just goes to Foundation if milestones unmetMy logic is - the SVs agreed to do this sort of ecosystem development (at their own opportunity cost) and this partner failed. Better to let the GSF have the earned rewards and they can determine how best to spend those funds on the ecosystem development the SVs had hoped forAlso want the SVs to have some skin in the game on the SVs they approve - it's rare than anyone can ecosystem build in a vacuum so giving the SVs a risk-free option would likely create risk-free behaviorsOn Mon, Mar 17, 2025 at 10:33 AM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:This e-mail and any attachments may contain information that is confidential and proprietary and otherwise protected from disclosure. If you are not the intended recipient of this e-mail, do not read, duplicate or redistribute it by any means. Please immediately delete it and any attachments and notify the sender that you have received it by mistake. Unintended recipients are prohibited from taking action on the basis of information in this e-mail or any attachments. The DRW Companies make no representations that this e-mail or any attachments are free of computer viruses or other defects.
And what happens with any escrowed CC awards that go unearned as a result of failing to meet KPIs? Would they be distributed pro-rata to existing SVs in good standing?
That seems like the appropriate approach (technical complexity notwithstanding).
Side note, this is a good question to form a standard answer to for these structures going forward.
Thanks
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 8:53 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiNo - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver On Mar 17, 2025, at 9: 46 AM, Jan Hoenisch via lists. sync. global <jan. hoenisch=mpch. com@ lists. sync. global>
No - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver
On Mar 17, 2025, at 9:46 AM, Jan Hoenisch via lists.sync.global <jan.hoenisch=mpch.com@...> wrote:
What is they underperform, do they still get a weight 3.0?
From: cip-discuss@... <cip-discuss@...> on behalf of DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...>
Date: Friday, March 14, 2025 at 15:33
To: cip-discuss@... <cip-discuss@...>
Subject: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight [3]Hello,
Please find the CIP-0052 open for discussion at the PR https://github.com/global-synchronizer-foundation/cips/pull/41. Full text below.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?
Summary
- Monstera FZE (“Monstera”) as a SV at Weight [3]
- Monstera commits to bring at least 5 major users of Canton to the Network in the next 6 months
- If Monstera overperforms and provides > 5 major users, it will earn 0.75 incremental SV weight (at the time the participant goes live on MainNet) for each approved participant above the 5 up to a total SV Weight of 5.25 possible
Motivation
- Similar to the 5North Ecosystem Fund, the goal is to bring awareness to the network at a different level. Here we are looking to partner with industry leaders who can adopt the collateral, stablecoin and other products being deployed into the Network
Commitment
- Monstera commits to deploy its own time and capital to bring these users to the Network
- Monstera commits to integrate the new user with assets issued on the Global Synchronizer (eg USDC, USYC)
- Example potential participants include (connection in parentheses):
- APAC:
- Tokyo Dome / Mitsui Fudosan (Chairman)
- Sun Hung Kai & Co (CEO & Majority Shareholder)
- Air Asia (Founder & CEO)
- Middle East:
- Mashreq Bank (CEO)
- Dubai Stock Exchange (CEO)
- Abu Dhabi First Bank (Board Member)
- Europe:
- Deutsche Bank (Board Member)
- Munich Re (Board Member)
- LATAM:
- Salinas Group (Founder, Chairman)
- The GSF Tokenomics committee commits to deliberate each proposed participant and clearly notify Monstera if the participant would count against the commitment quota
- Coins are earned on the GSF SV and will be held by the Foundation in a segregated account until released to Monstera as each participant successfully joins the Network
- 20% of escrow holdings will be released with each approved participant joining the Network
- 20% of SV weight will be assigned to Monstera Validator with each approved participant joining the Network
- Monstera will meet with the GSF Tokenomics committee once every 30 days and provide a progress report towards stated commitments
About David Stern and Witan Group
Monstera is the digital asset focused subsidiary of the wider Witan Group.
David Stern is Chairman of the Witan Group, a private investment company that operates from Hong Kong, Beijing, London and Dubai.
Mr Stern is currently Vice Chairman of Sphere Entertainment Co., a premier live entertainment and media company. The first Sphere venue opened in Las Vegas in September 2023 and is a next-generation entertainment medium that is redefining the future of live entertainment.
Mr Stern is a serial entrepreneur and started a China focused advisory business in 2001, before founding the data technology company CMDS which was sold in 2010 to a UK listed FTSE-250 company.
In 2016 Mr. Stern became Chairman of Celestial, a joint venture between his Witan Group and a Fortune 500 company. In 2017 Mr. Stern was a founding investor of Canoo, a US electric vehicle company, which listed on Nasdaq in 2020 at a US$ 2.4 billion valuation.
Mr. Stern is currently Supervisory Board Member of the Holy Fashion Group in Switzerland and Advisory Board Member of the University of Cambridge Judge Business School.
Proposed Changes
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute funds from extra weight to Monstera as commitments are met
- GSF will distribute SV Weight to Monstera Validator as commitments are met
Dr. Amanda L. Martin
814-359-6544Director of Program Management
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - toggle quoted message Show quoted text
Understood on your historical attribution perspective. Agreed it would be complex to do so correctly. I’m open to either approach and happy to continue to engage with the group if there are strong preferences in either direction.
That aside, what about the SV weight going forward in the event a KPI isn’t met? Can we clarify that after a certain point of time any weight/KPI failed to be captured is reverted to 0 rather than remaining with the GSF in perpetuity? I would make that date match what ever the final date to meet the KPI is.
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 9:41 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiI think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want. I think better
I think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want.
I think better if just goes to Foundation if milestones unmet
My logic is - the SVs agreed to do this sort of ecosystem development (at their own opportunity cost) and this partner failed. Better to let the GSF have the earned rewards and they can determine how best to spend those funds on the ecosystem development the SVs had hoped for
Also want the SVs to have some skin in the game on the SVs they approve - it's rare than anyone can ecosystem build in a vacuum so giving the SVs a risk-free option would likely create risk-free behaviors
On Mon, Mar 17, 2025 at 10:33 AM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
And what happens with any escrowed CC awards that go unearned as a result of failing to meet KPIs? Would they be distributed pro-rata to existing SVs in good standing?
That seems like the appropriate approach (technical complexity notwithstanding).
Side note, this is a good question to form a standard answer to for these structures going forward.
Thanks
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 8:53 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiNo - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver On Mar 17, 2025, at 9: 46 AM, Jan Hoenisch via lists. sync. global <jan. hoenisch=mpch. com@ lists. sync. global>
No - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver
On Mar 17, 2025, at 9:46 AM, Jan Hoenisch via lists.sync.global <jan.hoenisch=mpch.com@...> wrote:
What is they underperform, do they still get a weight 3.0?
From: cip-discuss@... <cip-discuss@...> on behalf of DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...>
Date: Friday, March 14, 2025 at 15:33
To: cip-discuss@... <cip-discuss@...>
Subject: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight [3]Hello,
Please find the CIP-0052 open for discussion at the PR https://github.com/global-synchronizer-foundation/cips/pull/41. Full text below.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?
Summary
- Monstera FZE (“Monstera”) as a SV at Weight [3]
- Monstera commits to bring at least 5 major users of Canton to the Network in the next 6 months
- If Monstera overperforms and provides > 5 major users, it will earn 0.75 incremental SV weight (at the time the participant goes live on MainNet) for each approved participant above the 5 up to a total SV Weight of 5.25 possible
Motivation
- Similar to the 5North Ecosystem Fund, the goal is to bring awareness to the network at a different level. Here we are looking to partner with industry leaders who can adopt the collateral, stablecoin and other products being deployed into the Network
Commitment
- Monstera commits to deploy its own time and capital to bring these users to the Network
- Monstera commits to integrate the new user with assets issued on the Global Synchronizer (eg USDC, USYC)
- Example potential participants include (connection in parentheses):
- APAC:
- Tokyo Dome / Mitsui Fudosan (Chairman)
- Sun Hung Kai & Co (CEO & Majority Shareholder)
- Air Asia (Founder & CEO)
- Middle East:
- Mashreq Bank (CEO)
- Dubai Stock Exchange (CEO)
- Abu Dhabi First Bank (Board Member)
- Europe:
- Deutsche Bank (Board Member)
- Munich Re (Board Member)
- LATAM:
- Salinas Group (Founder, Chairman)
- The GSF Tokenomics committee commits to deliberate each proposed participant and clearly notify Monstera if the participant would count against the commitment quota
- Coins are earned on the GSF SV and will be held by the Foundation in a segregated account until released to Monstera as each participant successfully joins the Network
- 20% of escrow holdings will be released with each approved participant joining the Network
- 20% of SV weight will be assigned to Monstera Validator with each approved participant joining the Network
- Monstera will meet with the GSF Tokenomics committee once every 30 days and provide a progress report towards stated commitments
About David Stern and Witan Group
Monstera is the digital asset focused subsidiary of the wider Witan Group.
David Stern is Chairman of the Witan Group, a private investment company that operates from Hong Kong, Beijing, London and Dubai.
Mr Stern is currently Vice Chairman of Sphere Entertainment Co., a premier live entertainment and media company. The first Sphere venue opened in Las Vegas in September 2023 and is a next-generation entertainment medium that is redefining the future of live entertainment.
Mr Stern is a serial entrepreneur and started a China focused advisory business in 2001, before founding the data technology company CMDS which was sold in 2010 to a UK listed FTSE-250 company.
In 2016 Mr. Stern became Chairman of Celestial, a joint venture between his Witan Group and a Fortune 500 company. In 2017 Mr. Stern was a founding investor of Canoo, a US electric vehicle company, which listed on Nasdaq in 2020 at a US$ 2.4 billion valuation.
Mr. Stern is currently Supervisory Board Member of the Holy Fashion Group in Switzerland and Advisory Board Member of the University of Cambridge Judge Business School.
Proposed Changes
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute funds from extra weight to Monstera as commitments are met
- GSF will distribute SV Weight to Monstera Validator as commitments are met
Dr. Amanda L. Martin
814-359-6544Director of Program Management
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.This e-mail and any attachments may contain information that is confidential and proprietary and otherwise protected from disclosure. If you are not the intended recipient of this e-mail, do not read, duplicate or redistribute it by any means. Please immediately delete it and any attachments and notify the sender that you have received it by mistake. Unintended recipients are prohibited from taking action on the basis of information in this e-mail or any attachments. The DRW Companies make no representations that this e-mail or any attachments are free of computer viruses or other defects.
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This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - toggle quoted message Show quoted textAh that's a great idea - I would say any 'forfeited' weighting from missed deliverable goes back into the pool - that's easy to do and sounds right to meOn Mon, Mar 17, 2025 at 2:31 PM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
Understood on your historical attribution perspective. Agreed it would be complex to do so correctly. I’m open to either approach and happy to continue to engage with the group if there are strong preferences in either direction.
That aside, what about the SV weight going forward in the event a KPI isn’t met? Can we clarify that after a certain point of time any weight/KPI failed to be captured is reverted to 0 rather than remaining with the GSF in perpetuity? I would make that date match what ever the final date to meet the KPI is.
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 9:41 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiI think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want. I think better
I think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want.
I think better if just goes to Foundation if milestones unmet
My logic is - the SVs agreed to do this sort of ecosystem development (at their own opportunity cost) and this partner failed. Better to let the GSF have the earned rewards and they can determine how best to spend those funds on the ecosystem development the SVs had hoped for
Also want the SVs to have some skin in the game on the SVs they approve - it's rare than anyone can ecosystem build in a vacuum so giving the SVs a risk-free option would likely create risk-free behaviors
On Mon, Mar 17, 2025 at 10:33 AM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
And what happens with any escrowed CC awards that go unearned as a result of failing to meet KPIs? Would they be distributed pro-rata to existing SVs in good standing?
That seems like the appropriate approach (technical complexity notwithstanding).
Side note, this is a good question to form a standard answer to for these structures going forward.
Thanks
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 8:53 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiNo - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver On Mar 17, 2025, at 9: 46 AM, Jan Hoenisch via lists. sync. global <jan. hoenisch=mpch. com@ lists. sync. global>
No - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver
On Mar 17, 2025, at 9:46 AM, Jan Hoenisch via lists.sync.global <jan.hoenisch=mpch.com@...> wrote:
What is they underperform, do they still get a weight 3.0?
From: cip-discuss@... <cip-discuss@...> on behalf of DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...>
Date: Friday, March 14, 2025 at 15:33
To: cip-discuss@... <cip-discuss@...>
Subject: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight [3]Hello,
Please find the CIP-0052 open for discussion at the PR https://github.com/global-synchronizer-foundation/cips/pull/41. Full text below.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?
Summary
- Monstera FZE (“Monstera”) as a SV at Weight [3]
- Monstera commits to bring at least 5 major users of Canton to the Network in the next 6 months
- If Monstera overperforms and provides > 5 major users, it will earn 0.75 incremental SV weight (at the time the participant goes live on MainNet) for each approved participant above the 5 up to a total SV Weight of 5.25 possible
Motivation
- Similar to the 5North Ecosystem Fund, the goal is to bring awareness to the network at a different level. Here we are looking to partner with industry leaders who can adopt the collateral, stablecoin and other products being deployed into the Network
Commitment
- Monstera commits to deploy its own time and capital to bring these users to the Network
- Monstera commits to integrate the new user with assets issued on the Global Synchronizer (eg USDC, USYC)
- Example potential participants include (connection in parentheses):
- APAC:
- Tokyo Dome / Mitsui Fudosan (Chairman)
- Sun Hung Kai & Co (CEO & Majority Shareholder)
- Air Asia (Founder & CEO)
- Middle East:
- Mashreq Bank (CEO)
- Dubai Stock Exchange (CEO)
- Abu Dhabi First Bank (Board Member)
- Europe:
- Deutsche Bank (Board Member)
- Munich Re (Board Member)
- LATAM:
- Salinas Group (Founder, Chairman)
- The GSF Tokenomics committee commits to deliberate each proposed participant and clearly notify Monstera if the participant would count against the commitment quota
- Coins are earned on the GSF SV and will be held by the Foundation in a segregated account until released to Monstera as each participant successfully joins the Network
- 20% of escrow holdings will be released with each approved participant joining the Network
- 20% of SV weight will be assigned to Monstera Validator with each approved participant joining the Network
- Monstera will meet with the GSF Tokenomics committee once every 30 days and provide a progress report towards stated commitments
About David Stern and Witan Group
Monstera is the digital asset focused subsidiary of the wider Witan Group.
David Stern is Chairman of the Witan Group, a private investment company that operates from Hong Kong, Beijing, London and Dubai.
Mr Stern is currently Vice Chairman of Sphere Entertainment Co., a premier live entertainment and media company. The first Sphere venue opened in Las Vegas in September 2023 and is a next-generation entertainment medium that is redefining the future of live entertainment.
Mr Stern is a serial entrepreneur and started a China focused advisory business in 2001, before founding the data technology company CMDS which was sold in 2010 to a UK listed FTSE-250 company.
In 2016 Mr. Stern became Chairman of Celestial, a joint venture between his Witan Group and a Fortune 500 company. In 2017 Mr. Stern was a founding investor of Canoo, a US electric vehicle company, which listed on Nasdaq in 2020 at a US$ 2.4 billion valuation.
Mr. Stern is currently Supervisory Board Member of the Holy Fashion Group in Switzerland and Advisory Board Member of the University of Cambridge Judge Business School.
Proposed Changes
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute funds from extra weight to Monstera as commitments are met
- GSF will distribute SV Weight to Monstera Validator as commitments are met
Dr. Amanda L. Martin
814-359-6544Director of Program Management
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.This e-mail and any attachments may contain information that is confidential and proprietary and otherwise protected from disclosure. If you are not the intended recipient of this e-mail, do not read, duplicate or redistribute it by any means. Please immediately delete it and any attachments and notify the sender that you have received it by mistake. Unintended recipients are prohibited from taking action on the basis of information in this e-mail or any attachments. The DRW Companies make no representations that this e-mail or any attachments are free of computer viruses or other defects.
--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - toggle quoted message Show quoted text
That works for me, want to make that edit?
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 1:33 PM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiAh that's a great idea - I would say any 'forfeited' weighting from missed deliverable goes back into the pool - that's easy to do and sounds right to me On Mon, Mar 17, 2025 at 2: 31 PM Chris Zuehlke via lists. sync. global <czuehlke=drwholdings. com@ lists. sync. global>
Ah that's a great idea - I would say any 'forfeited' weighting from missed deliverable goes back into the pool - that's easy to do and sounds right to me
On Mon, Mar 17, 2025 at 2:31 PM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
Understood on your historical attribution perspective. Agreed it would be complex to do so correctly. I’m open to either approach and happy to continue to engage with the group if there are strong preferences in either direction.
That aside, what about the SV weight going forward in the event a KPI isn’t met? Can we clarify that after a certain point of time any weight/KPI failed to be captured is reverted to 0 rather than remaining with the GSF in perpetuity? I would make that date match what ever the final date to meet the KPI is.
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 9:41 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiI think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want. I think better
I think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want.
I think better if just goes to Foundation if milestones unmet
My logic is - the SVs agreed to do this sort of ecosystem development (at their own opportunity cost) and this partner failed. Better to let the GSF have the earned rewards and they can determine how best to spend those funds on the ecosystem development the SVs had hoped for
Also want the SVs to have some skin in the game on the SVs they approve - it's rare than anyone can ecosystem build in a vacuum so giving the SVs a risk-free option would likely create risk-free behaviors
On Mon, Mar 17, 2025 at 10:33 AM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
And what happens with any escrowed CC awards that go unearned as a result of failing to meet KPIs? Would they be distributed pro-rata to existing SVs in good standing?
That seems like the appropriate approach (technical complexity notwithstanding).
Side note, this is a good question to form a standard answer to for these structures going forward.
Thanks
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 8:53 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiNo - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver On Mar 17, 2025, at 9: 46 AM, Jan Hoenisch via lists. sync. global <jan. hoenisch=mpch. com@ lists. sync. global>
No - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver
On Mar 17, 2025, at 9:46 AM, Jan Hoenisch via lists.sync.global <jan.hoenisch=mpch.com@...> wrote:
What is they underperform, do they still get a weight 3.0?
From: cip-discuss@... <cip-discuss@...> on behalf of DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...>
Date: Friday, March 14, 2025 at 15:33
To: cip-discuss@... <cip-discuss@...>
Subject: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight [3]Hello,
Please find the CIP-0052 open for discussion at the PR https://github.com/global-synchronizer-foundation/cips/pull/41. Full text below.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?
Summary
- Monstera FZE (“Monstera”) as a SV at Weight [3]
- Monstera commits to bring at least 5 major users of Canton to the Network in the next 6 months
- If Monstera overperforms and provides > 5 major users, it will earn 0.75 incremental SV weight (at the time the participant goes live on MainNet) for each approved participant above the 5 up to a total SV Weight of 5.25 possible
Motivation
- Similar to the 5North Ecosystem Fund, the goal is to bring awareness to the network at a different level. Here we are looking to partner with industry leaders who can adopt the collateral, stablecoin and other products being deployed into the Network
Commitment
- Monstera commits to deploy its own time and capital to bring these users to the Network
- Monstera commits to integrate the new user with assets issued on the Global Synchronizer (eg USDC, USYC)
- Example potential participants include (connection in parentheses):
- APAC:
- Tokyo Dome / Mitsui Fudosan (Chairman)
- Sun Hung Kai & Co (CEO & Majority Shareholder)
- Air Asia (Founder & CEO)
- Middle East:
- Mashreq Bank (CEO)
- Dubai Stock Exchange (CEO)
- Abu Dhabi First Bank (Board Member)
- Europe:
- Deutsche Bank (Board Member)
- Munich Re (Board Member)
- LATAM:
- Salinas Group (Founder, Chairman)
- The GSF Tokenomics committee commits to deliberate each proposed participant and clearly notify Monstera if the participant would count against the commitment quota
- Coins are earned on the GSF SV and will be held by the Foundation in a segregated account until released to Monstera as each participant successfully joins the Network
- 20% of escrow holdings will be released with each approved participant joining the Network
- 20% of SV weight will be assigned to Monstera Validator with each approved participant joining the Network
- Monstera will meet with the GSF Tokenomics committee once every 30 days and provide a progress report towards stated commitments
About David Stern and Witan Group
Monstera is the digital asset focused subsidiary of the wider Witan Group.
David Stern is Chairman of the Witan Group, a private investment company that operates from Hong Kong, Beijing, London and Dubai.
Mr Stern is currently Vice Chairman of Sphere Entertainment Co., a premier live entertainment and media company. The first Sphere venue opened in Las Vegas in September 2023 and is a next-generation entertainment medium that is redefining the future of live entertainment.
Mr Stern is a serial entrepreneur and started a China focused advisory business in 2001, before founding the data technology company CMDS which was sold in 2010 to a UK listed FTSE-250 company.
In 2016 Mr. Stern became Chairman of Celestial, a joint venture between his Witan Group and a Fortune 500 company. In 2017 Mr. Stern was a founding investor of Canoo, a US electric vehicle company, which listed on Nasdaq in 2020 at a US$ 2.4 billion valuation.
Mr. Stern is currently Supervisory Board Member of the Holy Fashion Group in Switzerland and Advisory Board Member of the University of Cambridge Judge Business School.
Proposed Changes
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute funds from extra weight to Monstera as commitments are met
- GSF will distribute SV Weight to Monstera Validator as commitments are met
Dr. Amanda L. Martin
814-359-6544Director of Program Management
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.This e-mail and any attachments may contain information that is confidential and proprietary and otherwise protected from disclosure. If you are not the intended recipient of this e-mail, do not read, duplicate or redistribute it by any means. Please immediately delete it and any attachments and notify the sender that you have received it by mistake. Unintended recipients are prohibited from taking action on the basis of information in this e-mail or any attachments. The DRW Companies make no representations that this e-mail or any attachments are free of computer viruses or other defects.
--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.
--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - toggle quoted message Show quoted textwill doOn Tue, Mar 18, 2025 at 5:12 PM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
That works for me, want to make that edit?
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 1:33 PM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiAh that's a great idea - I would say any 'forfeited' weighting from missed deliverable goes back into the pool - that's easy to do and sounds right to me On Mon, Mar 17, 2025 at 2: 31 PM Chris Zuehlke via lists. sync. global <czuehlke=drwholdings. com@ lists. sync. global>
Ah that's a great idea - I would say any 'forfeited' weighting from missed deliverable goes back into the pool - that's easy to do and sounds right to me
On Mon, Mar 17, 2025 at 2:31 PM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
Understood on your historical attribution perspective. Agreed it would be complex to do so correctly. I’m open to either approach and happy to continue to engage with the group if there are strong preferences in either direction.
That aside, what about the SV weight going forward in the event a KPI isn’t met? Can we clarify that after a certain point of time any weight/KPI failed to be captured is reverted to 0 rather than remaining with the GSF in perpetuity? I would make that date match what ever the final date to meet the KPI is.
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 9:41 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiI think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want. I think better
I think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want.
I think better if just goes to Foundation if milestones unmet
My logic is - the SVs agreed to do this sort of ecosystem development (at their own opportunity cost) and this partner failed. Better to let the GSF have the earned rewards and they can determine how best to spend those funds on the ecosystem development the SVs had hoped for
Also want the SVs to have some skin in the game on the SVs they approve - it's rare than anyone can ecosystem build in a vacuum so giving the SVs a risk-free option would likely create risk-free behaviors
On Mon, Mar 17, 2025 at 10:33 AM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
And what happens with any escrowed CC awards that go unearned as a result of failing to meet KPIs? Would they be distributed pro-rata to existing SVs in good standing?
That seems like the appropriate approach (technical complexity notwithstanding).
Side note, this is a good question to form a standard answer to for these structures going forward.
Thanks
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 8:53 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiNo - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver On Mar 17, 2025, at 9: 46 AM, Jan Hoenisch via lists. sync. global <jan. hoenisch=mpch. com@ lists. sync. global>
No - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver
On Mar 17, 2025, at 9:46 AM, Jan Hoenisch via lists.sync.global <jan.hoenisch=mpch.com@...> wrote:
What is they underperform, do they still get a weight 3.0?
From: cip-discuss@... <cip-discuss@...> on behalf of DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...>
Date: Friday, March 14, 2025 at 15:33
To: cip-discuss@... <cip-discuss@...>
Subject: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight [3]Hello,
Please find the CIP-0052 open for discussion at the PR https://github.com/global-synchronizer-foundation/cips/pull/41. Full text below.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?
Summary
- Monstera FZE (“Monstera”) as a SV at Weight [3]
- Monstera commits to bring at least 5 major users of Canton to the Network in the next 6 months
- If Monstera overperforms and provides > 5 major users, it will earn 0.75 incremental SV weight (at the time the participant goes live on MainNet) for each approved participant above the 5 up to a total SV Weight of 5.25 possible
Motivation
- Similar to the 5North Ecosystem Fund, the goal is to bring awareness to the network at a different level. Here we are looking to partner with industry leaders who can adopt the collateral, stablecoin and other products being deployed into the Network
Commitment
- Monstera commits to deploy its own time and capital to bring these users to the Network
- Monstera commits to integrate the new user with assets issued on the Global Synchronizer (eg USDC, USYC)
- Example potential participants include (connection in parentheses):
- APAC:
- Tokyo Dome / Mitsui Fudosan (Chairman)
- Sun Hung Kai & Co (CEO & Majority Shareholder)
- Air Asia (Founder & CEO)
- Middle East:
- Mashreq Bank (CEO)
- Dubai Stock Exchange (CEO)
- Abu Dhabi First Bank (Board Member)
- Europe:
- Deutsche Bank (Board Member)
- Munich Re (Board Member)
- LATAM:
- Salinas Group (Founder, Chairman)
- The GSF Tokenomics committee commits to deliberate each proposed participant and clearly notify Monstera if the participant would count against the commitment quota
- Coins are earned on the GSF SV and will be held by the Foundation in a segregated account until released to Monstera as each participant successfully joins the Network
- 20% of escrow holdings will be released with each approved participant joining the Network
- 20% of SV weight will be assigned to Monstera Validator with each approved participant joining the Network
- Monstera will meet with the GSF Tokenomics committee once every 30 days and provide a progress report towards stated commitments
About David Stern and Witan Group
Monstera is the digital asset focused subsidiary of the wider Witan Group.
David Stern is Chairman of the Witan Group, a private investment company that operates from Hong Kong, Beijing, London and Dubai.
Mr Stern is currently Vice Chairman of Sphere Entertainment Co., a premier live entertainment and media company. The first Sphere venue opened in Las Vegas in September 2023 and is a next-generation entertainment medium that is redefining the future of live entertainment.
Mr Stern is a serial entrepreneur and started a China focused advisory business in 2001, before founding the data technology company CMDS which was sold in 2010 to a UK listed FTSE-250 company.
In 2016 Mr. Stern became Chairman of Celestial, a joint venture between his Witan Group and a Fortune 500 company. In 2017 Mr. Stern was a founding investor of Canoo, a US electric vehicle company, which listed on Nasdaq in 2020 at a US$ 2.4 billion valuation.
Mr. Stern is currently Supervisory Board Member of the Holy Fashion Group in Switzerland and Advisory Board Member of the University of Cambridge Judge Business School.
Proposed Changes
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute funds from extra weight to Monstera as commitments are met
- GSF will distribute SV Weight to Monstera Validator as commitments are met
Dr. Amanda L. Martin
814-359-6544Director of Program Management
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.This e-mail and any attachments may contain information that is confidential and proprietary and otherwise protected from disclosure. If you are not the intended recipient of this e-mail, do not read, duplicate or redistribute it by any means. Please immediately delete it and any attachments and notify the sender that you have received it by mistake. Unintended recipients are prohibited from taking action on the basis of information in this e-mail or any attachments. The DRW Companies make no representations that this e-mail or any attachments are free of computer viruses or other defects.
--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.
--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - Should we add details in the Specification section that clarify exactly what we mean by assigning the weight to a segregated account controlled by the GSF?
Does this mean that the GSF would set up a separate wallet where the coin would be held in escrow? Do we need that wallet to be on a separate Validator node? I believe all the GSF-managed wallets are on separate nodes right now. But maybe this wallet could be on the GSF node. - toggle quoted message Show quoted textTMIGSF finance committee will decideOn Mar 19, 2025, at 4:24 PM, Wayne Collier via lists.sync.global <wayne.collier=digitalasset.com@...> wrote:Should we add details in the Specification section that clarify exactly what we mean by assigning the weight to a segregated account controlled by the GSF?
Does this mean that the GSF would set up a separate wallet where the coin would be held in escrow? Do we need that wallet to be on a separate Validator node? I believe all the GSF-managed wallets are on separate nodes right now. But maybe this wallet could be on the GSF node.
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - toggle quoted message Show quoted textPotentially we can use a custody provider for this?
On 19 Mar 2025, at 21:31, Eric Saraniecki via lists.sync.global <eric=digitalasset.com@...> wrote:
TMIGSF finance committee will decide
On Mar 19, 2025, at 4:24 PM, Wayne Collier via lists.sync.global <wayne.collier=digitalasset.com@...> wrote:Should we add details in the Specification section that clarify exactly what we mean by assigning the weight to a segregated account controlled by the GSF?
Does this mean that the GSF would set up a separate wallet where the coin would be held in escrow? Do we need that wallet to be on a separate Validator node? I believe all the GSF-managed wallets are on separate nodes right now. But maybe this wallet could be on the GSF node.
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - toggle quoted message Show quoted textHi Amanda - in the specification section - i would recommend we make the following changes:
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute 20% of Canton Coin earned to date and 20% of the SV Weight with each User that 2/3 of the SVs agree have been successfully onboarded to the Network
- If Monstera fails to meet their KPI of five major users within the specified timeframe, all undistributed Canton Coin will revert to the GSF.
- If Monstera fails to meet their KPI of five major users within the specified timeframe, all undistributed SV Weight will be removed from the SV Pool (effectively returning to the existing SVs proportionally)
On Tue, Mar 18, 2025 at 5:13 PM Eric Saraniecki via lists.sync.global <eric=digitalasset.com@...> wrote:will doOn Tue, Mar 18, 2025 at 5:12 PM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:That works for me, want to make that edit?
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 1:33 PM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiAh that's a great idea - I would say any 'forfeited' weighting from missed deliverable goes back into the pool - that's easy to do and sounds right to me On Mon, Mar 17, 2025 at 2: 31 PM Chris Zuehlke via lists. sync. global <czuehlke=drwholdings. com@ lists. sync. global>
Ah that's a great idea - I would say any 'forfeited' weighting from missed deliverable goes back into the pool - that's easy to do and sounds right to me
On Mon, Mar 17, 2025 at 2:31 PM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
Understood on your historical attribution perspective. Agreed it would be complex to do so correctly. I’m open to either approach and happy to continue to engage with the group if there are strong preferences in either direction.
That aside, what about the SV weight going forward in the event a KPI isn’t met? Can we clarify that after a certain point of time any weight/KPI failed to be captured is reverted to 0 rather than remaining with the GSF in perpetuity? I would make that date match what ever the final date to meet the KPI is.
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 9:41 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiI think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want. I think better
I think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want.
I think better if just goes to Foundation if milestones unmet
My logic is - the SVs agreed to do this sort of ecosystem development (at their own opportunity cost) and this partner failed. Better to let the GSF have the earned rewards and they can determine how best to spend those funds on the ecosystem development the SVs had hoped for
Also want the SVs to have some skin in the game on the SVs they approve - it's rare than anyone can ecosystem build in a vacuum so giving the SVs a risk-free option would likely create risk-free behaviors
On Mon, Mar 17, 2025 at 10:33 AM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
And what happens with any escrowed CC awards that go unearned as a result of failing to meet KPIs? Would they be distributed pro-rata to existing SVs in good standing?
That seems like the appropriate approach (technical complexity notwithstanding).
Side note, this is a good question to form a standard answer to for these structures going forward.
Thanks
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 8:53 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiNo - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver On Mar 17, 2025, at 9: 46 AM, Jan Hoenisch via lists. sync. global <jan. hoenisch=mpch. com@ lists. sync. global>
No - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver
On Mar 17, 2025, at 9:46 AM, Jan Hoenisch via lists.sync.global <jan.hoenisch=mpch.com@...> wrote:
What is they underperform, do they still get a weight 3.0?
From: cip-discuss@... <cip-discuss@...> on behalf of DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...>
Date: Friday, March 14, 2025 at 15:33
To: cip-discuss@... <cip-discuss@...>
Subject: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight [3]Hello,
Please find the CIP-0052 open for discussion at the PR https://github.com/global-synchronizer-foundation/cips/pull/41. Full text below.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?
Summary
- Monstera FZE (“Monstera”) as a SV at Weight [3]
- Monstera commits to bring at least 5 major users of Canton to the Network in the next 6 months
- If Monstera overperforms and provides > 5 major users, it will earn 0.75 incremental SV weight (at the time the participant goes live on MainNet) for each approved participant above the 5 up to a total SV Weight of 5.25 possible
Motivation
- Similar to the 5North Ecosystem Fund, the goal is to bring awareness to the network at a different level. Here we are looking to partner with industry leaders who can adopt the collateral, stablecoin and other products being deployed into the Network
Commitment
- Monstera commits to deploy its own time and capital to bring these users to the Network
- Monstera commits to integrate the new user with assets issued on the Global Synchronizer (eg USDC, USYC)
- Example potential participants include (connection in parentheses):
- APAC:
- Tokyo Dome / Mitsui Fudosan (Chairman)
- Sun Hung Kai & Co (CEO & Majority Shareholder)
- Air Asia (Founder & CEO)
- Middle East:
- Mashreq Bank (CEO)
- Dubai Stock Exchange (CEO)
- Abu Dhabi First Bank (Board Member)
- Europe:
- Deutsche Bank (Board Member)
- Munich Re (Board Member)
- LATAM:
- Salinas Group (Founder, Chairman)
- The GSF Tokenomics committee commits to deliberate each proposed participant and clearly notify Monstera if the participant would count against the commitment quota
- Coins are earned on the GSF SV and will be held by the Foundation in a segregated account until released to Monstera as each participant successfully joins the Network
- 20% of escrow holdings will be released with each approved participant joining the Network
- 20% of SV weight will be assigned to Monstera Validator with each approved participant joining the Network
- Monstera will meet with the GSF Tokenomics committee once every 30 days and provide a progress report towards stated commitments
About David Stern and Witan Group
Monstera is the digital asset focused subsidiary of the wider Witan Group.
David Stern is Chairman of the Witan Group, a private investment company that operates from Hong Kong, Beijing, London and Dubai.
Mr Stern is currently Vice Chairman of Sphere Entertainment Co., a premier live entertainment and media company. The first Sphere venue opened in Las Vegas in September 2023 and is a next-generation entertainment medium that is redefining the future of live entertainment.
Mr Stern is a serial entrepreneur and started a China focused advisory business in 2001, before founding the data technology company CMDS which was sold in 2010 to a UK listed FTSE-250 company.
In 2016 Mr. Stern became Chairman of Celestial, a joint venture between his Witan Group and a Fortune 500 company. In 2017 Mr. Stern was a founding investor of Canoo, a US electric vehicle company, which listed on Nasdaq in 2020 at a US$ 2.4 billion valuation.
Mr. Stern is currently Supervisory Board Member of the Holy Fashion Group in Switzerland and Advisory Board Member of the University of Cambridge Judge Business School.
Proposed Changes
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute funds from extra weight to Monstera as commitments are met
- GSF will distribute SV Weight to Monstera Validator as commitments are met
Dr. Amanda L. Martin
814-359-6544Director of Program Management
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.This e-mail and any attachments may contain information that is confidential and proprietary and otherwise protected from disclosure. If you are not the intended recipient of this e-mail, do not read, duplicate or redistribute it by any means. Please immediately delete it and any attachments and notify the sender that you have received it by mistake. Unintended recipients are prohibited from taking action on the basis of information in this e-mail or any attachments. The DRW Companies make no representations that this e-mail or any attachments are free of computer viruses or other defects.
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This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.
--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - Thanks Eric!toggle quoted message Show quoted textI have made the changes and they are viewable at: https://github.com/global-synchronizer-foundation/cips/blob/b269399e1ecda4e6379f43bb884e9dac12a57539/cip-0052/cip-0052.mdWe are still looking for an endorsement on this CIP.On Apr 4, 2025, at 10:28 AM, Eric Saraniecki via lists.sync.global <eric=digitalasset.com@...> wrote:Hi Amanda - in the specification section - i would recommend we make the following changes:
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute 20% of Canton Coin earned to date and 20% of the SV Weight with each User that 2/3 of the SVs agree have been successfully onboarded to the Network
- If Monstera fails to meet their KPI of five major users within the specified timeframe, all undistributed Canton Coin will revert to the GSF.
- If Monstera fails to meet their KPI of five major users within the specified timeframe, all undistributed SV Weight will be removed from the SV Pool (effectively returning to the existing SVs proportionally)
On Tue, Mar 18, 2025 at 5:13 PM Eric Saraniecki via lists.sync.global <eric=digitalasset.com@...> wrote:will doOn Tue, Mar 18, 2025 at 5:12 PM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:That works for me, want to make that edit?
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 1:33 PM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiAh that's a great idea - I would say any 'forfeited' weighting from missed deliverable goes back into the pool - that's easy to do and sounds right to me On Mon, Mar 17, 2025 at 2: 31 PM Chris Zuehlke via lists. sync. global <czuehlke=drwholdings. com@ lists. sync. global>
Ah that's a great idea - I would say any 'forfeited' weighting from missed deliverable goes back into the pool - that's easy to do and sounds right to me
On Mon, Mar 17, 2025 at 2:31 PM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
Understood on your historical attribution perspective. Agreed it would be complex to do so correctly. I’m open to either approach and happy to continue to engage with the group if there are strong preferences in either direction.
That aside, what about the SV weight going forward in the event a KPI isn’t met? Can we clarify that after a certain point of time any weight/KPI failed to be captured is reverted to 0 rather than remaining with the GSF in perpetuity? I would make that date match what ever the final date to meet the KPI is.
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 9:41 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiI think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want. I think better
I think that would be more complicated than necessary - someone would need to calculate the time weighted reward each party would get, would we need to consider downtime of the SV, etc. It's doable if this is what the SVs want.
I think better if just goes to Foundation if milestones unmet
My logic is - the SVs agreed to do this sort of ecosystem development (at their own opportunity cost) and this partner failed. Better to let the GSF have the earned rewards and they can determine how best to spend those funds on the ecosystem development the SVs had hoped for
Also want the SVs to have some skin in the game on the SVs they approve - it's rare than anyone can ecosystem build in a vacuum so giving the SVs a risk-free option would likely create risk-free behaviors
On Mon, Mar 17, 2025 at 10:33 AM Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
And what happens with any escrowed CC awards that go unearned as a result of failing to meet KPIs? Would they be distributed pro-rata to existing SVs in good standing?
That seems like the appropriate approach (technical complexity notwithstanding).
Side note, this is a good question to form a standard answer to for these structures going forward.
Thanks
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Monday, March 17, 2025 8:53 AM
To: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP 00XX Monstera FZE as a SV at Weight - Eric SaranieckiNo - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver On Mar 17, 2025, at 9: 46 AM, Jan Hoenisch via lists. sync. global <jan. hoenisch=mpch. com@ lists. sync. global>
No - the weight is only released if they earn the milestones - as authored, they don't earn a single coin unless they deliver
On Mar 17, 2025, at 9:46 AM, Jan Hoenisch via lists.sync.global <jan.hoenisch=mpch.com@...> wrote:
What is they underperform, do they still get a weight 3.0?
From: cip-discuss@... <cip-discuss@...> on behalf of DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...>
Date: Friday, March 14, 2025 at 15:33
To: cip-discuss@... <cip-discuss@...>
Subject: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight [3]Hello,
Please find the CIP-0052 open for discussion at the PR https://github.com/global-synchronizer-foundation/cips/pull/41. Full text below.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?
Summary
- Monstera FZE (“Monstera”) as a SV at Weight [3]
- Monstera commits to bring at least 5 major users of Canton to the Network in the next 6 months
- If Monstera overperforms and provides > 5 major users, it will earn 0.75 incremental SV weight (at the time the participant goes live on MainNet) for each approved participant above the 5 up to a total SV Weight of 5.25 possible
Motivation
- Similar to the 5North Ecosystem Fund, the goal is to bring awareness to the network at a different level. Here we are looking to partner with industry leaders who can adopt the collateral, stablecoin and other products being deployed into the Network
Commitment
- Monstera commits to deploy its own time and capital to bring these users to the Network
- Monstera commits to integrate the new user with assets issued on the Global Synchronizer (eg USDC, USYC)
- Example potential participants include (connection in parentheses):
- APAC:
- Tokyo Dome / Mitsui Fudosan (Chairman)
- Sun Hung Kai & Co (CEO & Majority Shareholder)
- Air Asia (Founder & CEO)
- Middle East:
- Mashreq Bank (CEO)
- Dubai Stock Exchange (CEO)
- Abu Dhabi First Bank (Board Member)
- Europe:
- Deutsche Bank (Board Member)
- Munich Re (Board Member)
- LATAM:
- Salinas Group (Founder, Chairman)
- The GSF Tokenomics committee commits to deliberate each proposed participant and clearly notify Monstera if the participant would count against the commitment quota
- Coins are earned on the GSF SV and will be held by the Foundation in a segregated account until released to Monstera as each participant successfully joins the Network
- 20% of escrow holdings will be released with each approved participant joining the Network
- 20% of SV weight will be assigned to Monstera Validator with each approved participant joining the Network
- Monstera will meet with the GSF Tokenomics committee once every 30 days and provide a progress report towards stated commitments
About David Stern and Witan Group
Monstera is the digital asset focused subsidiary of the wider Witan Group.David Stern is Chairman of the Witan Group, a private investment company that operates from Hong Kong, Beijing, London and Dubai.Mr Stern is currently Vice Chairman of Sphere Entertainment Co., a premier live entertainment and media company. The first Sphere venue opened in Las Vegas in September 2023 and is a next-generation entertainment medium that is redefining the future of live entertainment.Mr Stern is a serial entrepreneur and started a China focused advisory business in 2001, before founding the data technology company CMDS which was sold in 2010 to a UK listed FTSE-250 company.In 2016 Mr. Stern became Chairman of Celestial, a joint venture between his Witan Group and a Fortune 500 company. In 2017 Mr. Stern was a founding investor of Canoo, a US electric vehicle company, which listed on Nasdaq in 2020 at a US$ 2.4 billion valuation.Mr. Stern is currently Supervisory Board Member of the Holy Fashion Group in Switzerland and Advisory Board Member of the University of Cambridge Judge Business School.Proposed Changes
- Increase the GSF’s minting weight +3 and assign to a segregated account controlled by the GSF
- GSF will distribute funds from extra weight to Monstera as commitments are met
- GSF will distribute SV Weight to Monstera Validator as commitments are met
Dr. Amanda L. Martin
814-359-6544Director of Program Management
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.This e-mail and any attachments may contain information that is confidential and proprietary and otherwise protected from disclosure. If you are not the intended recipient of this e-mail, do not read, duplicate or redistribute it by any means. Please immediately delete it and any attachments and notify the sender that you have received it by mistake. Unintended recipients are prohibited from taking action on the basis of information in this e-mail or any attachments. The DRW Companies make no representations that this e-mail or any attachments are free of computer viruses or other defects.
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This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - Hello,
CIP-0052 Monstera FZE as a SV at Weight [3] has undergone a re-write based on our discussion at the last meeting. The PR is here for your review https://github.com/global-synchronizer-foundation/cips/pull/41.
DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed? - toggle quoted message Show quoted text
Thank you Amanda.
The heading says wight 3 but the text says “Add Monstera as an SV of Weight 5”.
Could you please clarify?
Thanks,
Veronica
V E R O N I C A A U G U S T S S O N
/
P A R T N E R
7RIDGE IS A PRIVATE MARKETS ASSET MANAGER INVESTED IN TRANSFORMATIVE TECHNOLOGY FOR FINANCIAL SERVICES TO POWER THE GLOBAL ECONOMY
Signature for V e r o n i c a A u g u s t s s o n
From: cip-discuss@... <cip-discuss@...> On Behalf Of DrAmandaLMartin via lists.sync.global
Sent: Wednesday, 16 April 2025 15:11
To: cip-discuss@...
Subject: Re: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight - Eric SaranieckiHello,
CIP-0052 Monstera FZE as a SV at Weight [3] has undergone a re-write based on our discussion at the last meeting. The PR is here for your review https://github.com/global-synchronizer-foundation/cips/pull/41.DA is the sponsor.
In order to move to a vote we are requesting a Super Validator Node Operator to endorse the CIP.Anyone SV Node Operator willing to endorse or change needed?
- Thanks Veronica,The heading was not correctly updated, it has been so now. Much appreciated!
- toggle quoted message Show quoted textA bit more context if it's not clear in the proposal...After the last tokenomics working group meeting - we discussed moving to a deliverables based CIP process for SVsSo the headline Weight is the max (should be 5 in this instance) they can earn under the deliverables. There is a whole section at the bottom that describes how that would work and what happens if they miss the deliverablesHappy to refine this and use it as a template on a go forward basis. Have several more like this that I'm about to submit - would be great if people want modifications to let me know now before I send another few of this downThank you!On Wed, Apr 16, 2025 at 9:24 AM DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...> wrote:Thanks Veronica,The heading was not correctly updated, it has been so now. Much appreciated!--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - toggle quoted message Show quoted text
I think it well reflects what we discussed.
Veronica
V E R O N I C A A U G U S T S S O N
/
P A R T N E R
7RIDGE IS A PRIVATE MARKETS ASSET MANAGER INVESTED IN TRANSFORMATIVE TECHNOLOGY FOR FINANCIAL SERVICES TO POWER THE GLOBAL ECONOMY
Signature for V e r o n i c a A u g u s t s s o n
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Wednesday, 16 April 2025 15:32
To: cip-discuss@...
Subject: Re: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight - Eric SaranieckiA bit more context if it's not clear in the proposal...
After the last tokenomics working group meeting - we discussed moving to a deliverables based CIP process for SVs
So the headline Weight is the max (should be 5 in this instance) they can earn under the deliverables. There is a whole section at the bottom that describes how that would work and what happens if they miss the deliverables
Happy to refine this and use it as a template on a go forward basis. Have several more like this that I'm about to submit - would be great if people want modifications to let me know now before I send another few of this down
Thank you!
On Wed, Apr 16, 2025 at 9:24 AM DrAmandaLMartin via lists.sync.global <amartin=linuxfoundation.org@...> wrote:
Thanks Veronica,
The heading was not correctly updated, it has been so now. Much appreciated!
--
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - Hello Everyone,Thanks for the great discussion around the CIPs.The Monstera one has been updated accordingly. Please see the update here: https://github.com/global-synchronizer-foundation/cips/blob/d0e3ee18e0c087f3d582c1300d8f4e1c783bc6a4/cip-0052/cip-0052.md
- Thanks for updating this Amanda.For additional context, during the call I had suggested adding a more clearly defined acceptance criteria that included conducting a transaction on the network. As it was previously drafted I thought one could interpret only connecting a validator/app to the network as sufficient to meet the criteria. I believe a requirement for the 3rd party to participate in a transaction (of their own choosing) should be included.Happy to discuss further.ThanksChris
- toggle quoted message Show quoted textThis was added to the acceptance criteria as a result:Monstera successfully integrates approved new network adopters with assets issued on the Global Synchronizer (eg USDC, USYC) and the approved party executes their first transaction on MainNet.Does it address your concerns or recommend a further clarification ?On Apr 25, 2025, at 5:47 PM, Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:Thanks for updating this Amanda.For additional context, during the call I had suggested adding a more clearly defined acceptance criteria that included conducting a transaction on the network. As it was previously drafted I thought one could interpret only connecting a validator/app to the network as sufficient to meet the criteria. I believe a requirement for the 3rd party to participate in a transaction (of their own choosing) should be included.Happy to discuss further.ThanksChris
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message. - toggle quoted message Show quoted text
The updated language addresses my concerns, ready to vote on this version of the CIP.
Thanks
Chris
From: cip-discuss@... <cip-discuss@...> On Behalf Of Eric Saraniecki via lists.sync.global
Sent: Friday, April 25, 2025 6:53 PM
To: cip-discuss@...
Cc: cip-discuss@...
Subject: [ext] Re: [cip-discuss] CIP-0052 Monstera FZE as a SV at Weight - Eric SaranieckiThis was added to the acceptance criteria as a result: Monstera successfully integrates approved new network adopters with assets issued on the Global Synchronizer (eg USDC, USYC) and the approved party executes their first transaction on MainNet.
This was added to the acceptance criteria as a result:
Monstera successfully integrates approved new network adopters with assets issued on the Global Synchronizer (eg USDC, USYC) and the approved party executes their first transaction on MainNet.
Does it address your concerns or recommend a further clarification ?
On Apr 25, 2025, at 5:47 PM, Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...> wrote:
Thanks for updating this Amanda.
For additional context, during the call I had suggested adding a more clearly defined acceptance criteria that included conducting a transaction on the network. As it was previously drafted I thought one could interpret only connecting a validator/app to the network as sufficient to meet the criteria. I believe a requirement for the 3rd party to participate in a transaction (of their own choosing) should be included.
Happy to discuss further.
Thanks
Chris
This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.digitalasset.com/emaildisclaimer.html. If you are not the intended recipient, please delete this message.This e-mail and any attachments may contain information that is confidential and proprietary and otherwise protected from disclosure. If you are not the intended recipient of this e-mail, do not read, duplicate or redistribute it by any means. Please immediately delete it and any attachments and notify the sender that you have received it by mistake. Unintended recipients are prohibited from taking action on the basis of information in this e-mail or any attachments. The DRW Companies make no representations that this e-mail or any attachments are free of computer viruses or other defects.
