The Jupiter DAO Voting System Proposal

Jupiter DAO LFG Updates
41

From level 5 to level 4 the difference was big. could be > $5k tokens

2 Likes
42

Greetings, I looked on Discord where we should lock the JUPs in order to participate in the voting, but I couldn’t find it there either. Is there an article about this? thanks

3 Likes
43

Exactly the “exponential” lock would be the protection from whales to abuse.
First, let’s agree that whales in general are not bad, just because they are whales. Actually all projects need them.
The issue is if some whale decieds to abuse the vote. For example - some founder has couple of whale friends who go buy couple million JUP vote with it for their shitty project, and after the project wins they dump their JUP because they are not interested in the project in general and most probably also would not invest in the project, because the founder will pay them back for the favour with project tokens so they will not need to risk their money. (this is the worst case scenario of abuse but is happening all the time).

So exactly what I am proposing is dealing with this issue in the best possible manner:

  1. It will not stop any whale from participating.
  2. If someone decides to play with the scenario above - they will lock their tockens for a month and lets say 1 000 000 JUP will give them 1M voting power, but in the samy time some small investor who is really interestd to invest in various starting project can decide to lock 10K JUP for 4 years and will have the same voting power and same rewards as will the whale with 1M tokens. So the time of the lock gives the bigger advantage because it not only “shows” dedication, but it makes you actually dedicated in the project because you are vested in it. And no one forces you into it. You can decide for how long you are commiting your tokens and based on that you get different multiplier.

@Riking - if my proposal in this and previous posts look meaningful I can create a “Proposal” for the voting system with more details, numbers arguments and how it will work as a whole. But it will take me some time, so I prefer not to invest it if it does not make sense for the project and this direction is not meaningful for the team and the community.

7 Likes
44

Glad that you brought it up, we should consider using JUP amount instead of USD value as the price always changing.

6 Likes
45

I think we should set the minimum voting amount at 100 $JUP. The price is always changing but I believe it it’s headed towards $1 USD and beyond. But 100 $JUP min at least.

5 Likes
46

Would love to see a weighted voting power based on jup tokens held. No tier system, just a weight for every jup held.

4 Likes