We should discuss updating the snapshot voting requirements.
There would be 2 types of votes potentially:
Extending something that is existing - for example extending staking.
Something that is non executeable - for example introducing a new KYC provider.
Currently we require 5% of ZKP staked or unstaked - depending on if there is a staking program running.
My suggestion would be to update the logic to a minimum of 100 voters and 10 million ZKP - with majority vote being the winner.
Any ideas lets discuss it here
I agree with your proposal, we always reach the quorum barely.
I concur on this initiative for multiple reasons.
The most important reason is that I think that through slightly adjusting the DAO acceptance criterea, the governance experience for the $ZKP holders will be improved. Something that @ToXiC_eHC also points out above, is that the 4% of the circulating $ZKP supply as mentioned on the Panther DAO acceptance criterea isn’t that accurate as it includes the 20% team allocation. These $ZKP are not being used for voting. Meaning that the circulating supply stated as the DAO acceptance criterea is closer to 3.2% instead.
On top of that, I also agree on simplifying the process for non-executable PIPs and / or the continuation of the existing logic in order to further improve the governance experience for the $ZKP holders.
Valid points, Joris. Agree on lowering the %, based on Panther holdings.
I agree with the statement of toxic
I agree I think it should be lower. Or allow non staked tokens to count for fractions of a vote.
Hello Friends, I give you the draft for PIP-19 to update voting requirements:
PIP-19: Update voting requirements and quorum
Through this proposal, the community aims to alter the overall governance experience by changing the voting quorum and adjusting the mechanism that adds the 0.5 ETH bond on Reality.eth. Also, this proposal includes the distribution of the gas coverage and rewards for the protocol deployers as per PIP-18.
Over the last few weeks on the Panther forum, the community discussed how the overall governance experience of the Panther DAO could be changed . During this discussion, two types of PIPs and respective voting requirements are proposed as well as adjusting the minimum quorum requirement of 4% as mentioned on the Panther Protocol DAO proposal acceptance criteria . Furthermore, the community aims to honor the previously set DAO requirements, where 0.5 Ethereum (ETH) was set as the target amount on Reality.eth. By doing so, the 0.5 ETH bond will be reflected and used by Snapshot, and transferred to Reality.eth accordingly.
If this proposal passes, there will be a different voting quorum for non-executable Panther Improvement Proposals (PIPs), and the minimum voting requirement will be adjusted for executable PIPs. If this proposal passes, the changes will be as follows:
- Update the logic to a minimum of 100 voters and 10 million ZKP - with the majority vote determining the outcome, for non-executable PIPs.
- Lowering the minimum quorum requirement to 3.2% for executable PIPs.
- Setting the 0.5 ETH bond as the required target amount on Snapshot.
The $ZKP/USD rate for the protocol deployment rewards is updated on the day that this proposal is published on Snapshot. The Huobi ZKP/USDT pair is used to define the amount of ZKP equivalent to the gas fee compensation. The coefficient of 1.2 is used for the actual spent amount in order to compensate for possible overheads and volatility.
Please vote to accept or reject the proposed actions detailed above.
As per the existing DAO governance structure, to participate in voting, both staked and unstaked $ZKP can be used for voting.
Voting power is calculated by Snapshot.org taking a snapshot of the number of $ZKP tokens per holder at the block within which the proposal was created.
Based on recent PIPs that have passed, 100 voters and 10m ZKP looks to be a fair amount that should be achieved with relative ease.
I am for this proposal.