The Steering Committee members meet at least quarterly. In addition to the regularly scheduled meetings, unscheduled meetings may be called, upon proper notice, at any time to address specific needs of the Foundation.
Members are expected to attend and participate in the quarterly meetings in person. In case of any special circumstances that do not allow the member to attend in person, the member should attend telephonically and notify the designated supporting administrative staff or the General Secretary in advance of the meeting.
As the governing body of the VeChain Foundation, each Steering Committee member holds a VeKey device which stores one of the addresses that are authorized to conduct on-chain governance operation, such as modification of Authority Masternodes, modification of technical on-chain parameters. Members are responsible to securely keep their VeKey and conduct on-chain governance operations in a timely manner as requested.
On the other hand, as a representative of the VeChain Foundation, SC members are obliged to keep the information discussed in the meetings confidential and not to provide any public comment that could potentially impact the market.
Overview Of The VeChain Foundation Steering Committee Election Process
An election for the VeChain Foundation Steering Committee happens every two years. The next term of the Steering Committee starts from July 1, 2020.
The planned timetable of the VeChain Foundation 2nd term Steering Committee election process
February 2020 — Candidates of all the three categories mentioned above announce their intentions to run and make declaration on the VeChainWorld forum.
February to March 2020 — Eligible candidates to promote their ideas and vision for the VeChain ecosystem; Candidates or the community may organize AMAs, presentations, debates at this stage.
March 2020 — The Foundation holds the first phase all stakeholders voting (“first phase voting”) on the VeVote platform to vote on candidates of Category 3 to eliminate extra candidates (if any) based on the Steering Committee composition. The first phase voting also serves the purpose to test the approval rating for Category 3 candidates.
April 2020 — The Foundation holds the second phase all stakeholders voting (“second phase voting”) on the VeVote platform to determine the category 3 candidates that enter the shortlist for the final phase voting.
May 2020 — The Foundation holds the final phase all stakeholders voting (“final phase voting”) on the VeVote platform to elect the 2nd term Steering Committee from the shortlist.
End of May 2020 — The Foundation counts the stakeholder votes and announce the 2nd term VeChain Foundation Steering Committee members.
June 2020 — Steering Committee handover.
July 1 2020 — Inauguration Day of the 2nd term VeChain Foundation Steering Committee.
The actual dates may be subject to change as the Foundation operation team deems appropriate.
- How do I announce the intention to run?
Starting from today, eligible applicants should announce the intention to run for the 2nd term Steering Committee member candidates by creating a post in the VeChainWorld forum that strictly follows the requirements in the Appendix.
The declaration of intention by eligible candidates should encompass the following matters, of which the Appendix provides detailed templates:
A declaration of willingness to enter the election and the association (if any) with Authority Masternodes, developers, enterprise users, and business partners (which determines if the applicant is qualified as an independent member)
A detailed resume/CV with information about identification, profile, education, experience, skills, professional certification, accomplishments
A personal (strategy/vision) statement
For Category 3 candidate applicants, the declaration of intention should be first posted as a Forum Thread in the “General Discussion” section of the VeChainWorld discussion forum website. The Foundation operation team will review it to ensure the applicant passes the KYC and meet the basic requirements before moving the applicant’s declaration of intention to the “2nd Term Steering Committee Election” section.
The declaration of intention of Category 1 & 2 candidates will be posted directly in the “2nd Term Steering Committee Election” section because their identities and background are pre-assessed by the Foundation team.
- Declaration of intention, multi phased voting
The election process begins with applicants and candidates in all three categories announce their intentions to run for the 2nd term VeChain Foundation Steering Committee in the VeChainWorld Forum. Candidates of Category 1 & 2 who are pre-assessed by the nomination committee will automatically enter the final election shortlist. The Foundation nomination committee will independently source the candidates of Category 2, and the Foundation team may reach out to applicants who publicly express the intention to run for the SC members to be directly nominated by the Foundation for the final shortlist if the applicant is deemed of high value to the VeChain ecosystem.
Category 3 candidates, after passing the Foundation operation team’s preliminary review, need to be elected in the first phase and second phase voting before entering the shortlist for final phase voting together with the Category 1&2 candidates.
In the first phase, depending on the number of eligible candidates in Category 3 by then, the first phase voting may eliminate a number of candidates in addition to testing the approval rating of the candidates. The Foundation may invite candidates with high approval ratings to join an online debate session following the first phase voting.