10/10 Dev team on the interface, swaps, website etc… Clean and works perfectly, pleasant experience. Potential is there.
Only query I have is over Governance/voting. Is there an in-depth deep dive on the matter? I can’t see any of the votes in the past actually completing, this is likely due to the proposal delivery (Guessing here).
What incentivises voters to stake/vote other than opinion
How do you propose to fix the ‘big fish’ stakers dominating the vote outcome
If there is an answer on this forum, please do point me to the post. Thanks
Not sure exactly what you mean about any of the previous votes completing. They’re right on the front page of the voting site at the bottom. vote.jup.ag
Is this what you are talking about with the question about ‘completing’? I’m guessing it’s an internal mechanism…none of the votes so far have completed that list. i think it stops at succeed. maybe the last two have to do with some sort of automated deployment…maybe smart contracts? Not too sure, but so long as it gets to ‘succeeded’ then your good i think.
If this isn’t what you meant, maybe you could clarify the question a bit.
as far as Incentives, you should check the documentation for specifics, but essentially We use Active Staking Rewards. in order to be eligible for ASR, you have to actively vote in JUP governance. Each quarter, each participant’s Stake and voting record are calculated and a portion of JUP plus a portion of each project that successfully launched will be allocated as rewards. So in July, active stakers should get some JUP, ZEUS, SHARKY, UPROCK, and SANCTUM plus allocations for any projects that launch going forward. i’m not sure what the cutoff date for rewards are, but they are ongoing.
The second question about Whale wallets having a oversized say in governance…well that’s an ongoing conversation. While right now there really doesn’t seem to be an issue with that, but it is a potential that should always be considered.
I am trying to explore alternate methods of governance that can allow for VP (voting power) enhancements based on engagement. I’m not talking ‘Zealy’ or ‘Galaxe’ style engagement…nothing against those projects, but tracking follows/likes/reposts seem super lazy to me.
If we can encourage DAO participants to actually engage online about our platform…like really engage, with sentences and conversations and exchanging ideas…THAT kind of engagement, NOT “LFG!!!11!!one!111!!!” or similar things folks do to ‘engage’ without actually exchanging and growing ideas.
I see what you mean. Yeah, I’ve never seen anything go past “Succeeded” but that hasn’t stopped any passed measures from being enacted. I was referring to the Proposal Status on the front page:
You’re correct on the incentives. Everyone that votes will get a portion of each of the tokens received (from the fees for launching via the Launchpad). Cut-off for rewards are the end of the calendar quarter. So for this period that will be June 30. First batch of rewards will go out in July. Then we start all over again for July-Sept.
Time is valuable stuff, appreciate the responses. Seems like a decent community, Will attempt to apply myself a little more going forward Thanks again!
I sense you are fighting the good fight here brother. Your passion shows. Passion is the very reason I got into BTC in the first place.
My question still stands though, what makes Jup different from every other DAO voting/governance. Why can’t we cap voting stake at a certain X value. Give the average people a chance to swing the tides. 20,000 JUP max vote amount as a cap, possibly - what do we all think?
Thanks man i 2nd this to though…ive been combing around trying to find this info as well… how much are the rewards based on your staked amount and voting activity? Is there a breakdown? That FAQ doesnt answer it… i see ppl posting formulas on X but where do those come from?. For example i see $80m in fees collected… i have 1000 jul staked…ive voted in every one except the very 1st one. What can i expect? Wouldnt it be motivating for ppl yo see that growing and increase activity?
Well consider a few things. In a standard stake weighted governance system, you would recieve both voting power and rewards based on your stake alone. (1000). If you adjust this amount, your rewards/voting power will adjust in direct proportion to your stake.
This is NOT that.
So rewards will not only be based on active stake, but on governance activity as well. That means some crazy maths, but i think all the numbers are known. (not sure about JUP emissions)
I mean, I’m not going to do them LOL…and i don’t think it would make sense for the team to either, they’d be meaningless.
If i won the lottery and bought/staked 10M JUP and then voted next vote. That would invalidate all the calculations you previously did.
This is why they aren’t calculated until the end of the…quarter? do they have a word for it yet? it’s not ‘epoch’…anyhow, ChatGPT gave me the math…i can’t vouch for it, i dated in high school
The mechanism for the rewards is pretty straightforward. It’s your total Voting Weight added up for each measure you voted in divided by the total number of voted from ALL measures added up throughout the entire governance period. It got a little tricky when they weighted each of the Trial WG votes at 1/3.
Thanks again!