Our Path To Decentralization

How do you DeFi without Smart Contracts?

Good to know: Our path to decentralization is work-in-progress, very similar to what Hedera has done with the Council Members Structure. To follow this route, the two big steps below are fundamental.

Step 1/2: Treasury Committee Structure

Note: The Treasury Committees structure may change overtime, always to prioritize security of the Network Status.

To enhance Trust for the Community in regards of the management of funds, the team is looking forward to implement the Treasury Committee! There will be 2 multi-signature accounts, divided as it follows:

Executive Treasury Committee

• Multi-signature wallet (deprecated 0.0.714418) (0.0.3218407)

• Comprised of 7 trusted members

• Threshold of 4 votes

This account will have a smaller balance, used for rapid action, marketing, development costs. Having the executive wallet secured by multi-sig provides security and stops any individual being able to access the Executive Treasury Committee funds without agreement.

Treasury Committee

• Multi-signature wallet (deprecated 0.0.786918) (0.0.3866707)

• Comprised of 10 distributed members

• Threshold of 6 votes

Most of the funds are held and deployed to the Executive Treasury for agreed expenditures, liquidity pools, rewards, listings, and future community voted projects. The unified structure is used for both Shibar and HbarSuite projects, including development and marketing expenses, to avoid duplicating the treasury. Shibr IMO funds can go directly to Hsuite Treasury, and Hsuite IPO funds are already in the Hsuite Executive Treasury.

Important: Treasury members need to agree to visit the Treasury Discord (maybe private, maybe public) at least once a week to “check-in” and keep up to date with the project.They need to be keen, focused and excited or they get replaced. Treasury Members will be expected to give notice of upcoming unavailability at these check ins, for example “I’m away next week”. This way the project knows how many are potentially available in advance and can work around them.

Step 2/2: Smart-Nodes (HSUITE Node Validators)

Note: The Smart-Nodes are in beta state and current development. The structure may change overtime, always to prioritize security of the Network Status.

To enhance security against centralized server-side vulnerabilities, Smart-Nodes have been developed.

Initially, they will be a white-listed group of HSUITE Validators holding a node key, leveraging Hedera Native Services (HFS, HCS). Every Validator will receive Reputation Tokens ($KARMA) redeemable for $HBAR, based on Proof-of-Reputation (POR) and Gossip Protocol: "If a node decides to change the State of the Network by tampering the Source Code, the other nodes will be aware of it and notify the network of attempted maliciousness. This way, if a node keeps acting malicious, it can be Black-Listed and have the Node-Key deactivated."

Smart-Nodes are built using Typescript, Docker, and Hedera js SDK. They contain programming logic bound to specific account IDs and monitor designated wallets, executing the correct behavior. One node creates a transaction and asks other nodes to verify and sign it, with the transaction passing only when the multi-sig threshold is reached. 

Example To add swapping capabilities to account 0.0.1234, it is converted into a multi-sig with smart-node private keys, and swap logic is programmed into the smart-nodes. When a user interacts with the account, smart-nodes verify and sign the transaction request. Hedera Atomic Swaps and Offline Multi-Sig Transactions are used for speed, scalability, and to leverage the Hedera Network. Additionally, the Smart-Node Network is database-less, with all information stored using HFS and HCS.

How to apply to become a HSUITE Node Validator

• Own 10 million $HSUITE

• Own a Shibar Gold NFT (for early access)