Revisions for Voting

Jupiter DAO
21

I think option C is the best way to go.

1 Like
22

This is true to an extent, but it does not happen with voting power prior to ASR and ASR is currently not funded in any way (other than taking from existing funds, which is unsustainable).

23

I like option C. It helps incentivize long-term retention of your JUP in staking. Something that right now if it were not for ASR and helping the growth of the ecosystem through voting they would not do staking. We will see how LFG 2.0 develops

1 Like
24

Right now is a scary thing. As I’ve said before, top 1000 voters have the 51%+ power. So they pretty much decide how all the votes go

1 Like
25

Assuming these people continue to compound, that will soon become 100 people with 51%. Voters do not seem to care about this harsh reality, mostly everyone’s vote becomes pointless.

1 Like
26

Yeah but there is not much we can do, since that what a DAO is. If someone is willing to buy a bunch of tokens in the open market… he has more power :sweat_smile:

1 Like
27

You don’t solve a problem by creating another problem. While I get your point about people just voting because they’d be rewarded, it is required at this stage.

Majority of people will stop voting if it’d cost them something more than usual, and the voting system wouldn’t be able to capture as many votes as intended.

The industry is still new, and majority of people really do not care about the tech if there’s no incentive attached. Adding to their weight will only chase them away.

2 Likes
28

People will still participate because they can vote “abstain” for free. If it the vote really matters to them then they’ll spend the .05 JUP to vote or whatever fraction it ends up being.

This is not creating a problem, it is creating incentives. Voting has no incentives other than “free money” currently. The current cost of voting is the integrity of the DAO, which is a horrible trade-off.

No one is confronting the fact that Whales have no incentive to spend their JUP and will become the only votes that matter. This is due to compounding growth. Without spend incentives for JUP the DAO is already a failure.

The best way I see to integrate spend incentives is to have a cost for guiding the future of the DAO. A cost for LFG. And the opportunity for small stakers to disproportionately benefit from ASR.

1 Like
29

I am proposing what we can do to reduce this problem. I do not subscribe to the idea that it is an inevitability of the DAO to be controlled by a few individuals.

3 Likes