The idea is to have the protocol allocate 25,000 vBNT collected from the B3 burn pool to be used for a community based vote.
This will allow for new proposals to be issued for Bancor by users in the community who do not wish to purchase the additional 25K vBNT to have their ideas heard. These potential proposals will be grouped together and the proposal with the best ones with highest vote weight will be sent to snapshot for the final vote.
This would be a low risk feature and could build some good will within the community and give incentive for creating useful ideas to fix the deficit / grow the protocol. If proposals become a waste of time due uselessness or spam, the feature can be turned off and the vBNT can be sent to the vortex.
How would such vBNT be deployed? Meaning, it would have to be staked via a wallet and a person would manage that vote. How could such a proposal ensure consensus from whatever group you are looking to represent.
In essence, why wouldn’t a group of like minded people not just go and buy vBNT together and do the same thing. This seems like the optimal way to do something like this as you could ensure alignment and function within the current design.
The purpose of vBNT being the only barrier to entry for a vote is to make users “put their money where their mouth is.” We even require votes to stay staked for longer than a single voting period to make sure that users can’t “kamikaze” vote to hurt BNT. I think that this proposal runs counter to that idea. Furethermore, any user can make a proposal about anything. I just made a joke proposal to prove this. So if a community member with 25k vBNT likes the idea they can already propose that idea on snapshot in your stead.
I think I want DAO votes and proposals to stay in the hands of those who have bought and staked BNT.
I’m not necessarily representing anyone other than to solve for the answer of the response that is given daily from contributors that “Anyone with 25k vBNT can create a proposal”. I assume some dumb proposals will get the highest vote for a week (if that becomes the threshold), but will fall flat when the final vBNT snapshot votes happen.
As for the stakeholder or wallet that is in charge of the vBNT, I’m not sure what the answer to that should be. Would it be wrong just to have a core contributor be the person to create a poll, tabulate the best ideas and make a final proposal on behalf of the community? For instance Zeno, would collect the top ideas for the week, hold/open a vote discussion. The top voted idea is sent to the proposal snapshot for final voting?
Not sure that’s fully the case.
The 25K is just to bring ideas to proposal. The millions of vBNT that users own will need to be the final judge if a proposal is worthy right? I’d argue Stakeholders of vBNT won’t vote a bad proposal fully through.
This idea is just to give community grown ideas the chance to be voted on. Not every LP on Bancor with good ideas has funds or vBNT to make quality proposal ideas. This would be their chance.
No its literally a typo. I’ll get rid of it. My bad.
I reformat my posts pretty frequently as I am writing - I’m pretty sure that “F” was from the word “Furthermore” and just didn’t get ctrl+x’ed right.
Alright no sweat. I was worried I was going to have to stop building up the courage to post my once in a while thoughts or hopefully ideas here.
At the root of the idea is to instead of having 25K vBNT be the barrier, that a really good community grown idea has a chance to fully make an impact on the protocol. So having a good idea would be the barrier.
A plus could also be that if ever the case would be that a kamikaze idea makes it though that would affect the protocol and was close to a quorum vote, some users with dormant vBNT could finally come out of the woodwork and finally be active and vote with their vBNT potentially.
I’m not in favor of this. If the community wants to propose a vote, then they should put their $$ where their mouth is.
Yes not everyone can afford 25k vBNT, but everyone is able to come up with their own good ideas. and if their idea is satisfactory, then someone with 25k vbnt can write up the proposal.
I would like for the community to become more engaged with ideas, proposals etc… this also includes voting. There is an extremely low voter turnout … and 20-25 wallets … really 2-5 whales … dictate if proposals get passed or not. Bancor needs more people to buy bnt, stake it and get the vbnt, then use those vbnt to vote and write proposals. no free passes. more proper engagement.
if these community members buy bnt, stake bnt and get enough vbnt, then their $$ will be alligned with the well being of the protocol. I would like for TKN holders to also become BNT holders
Hey @ohweoh, I just wanted to say that even though I am about to disagree with this proposal - I still REALLY appreciate you posting it!
The main reasons I disagree are:
There are no gatekeepers - anyone can buy 25k vBNT
If a proposal gains enough support, it can/will be posted to snapshot by someone who has the required 25k vBNT (which I think organically solves this problem already)
Thanks for the positive constructive feedback Lesigh.
I feel like posting here exposes you to the lions den .
Was just a thought to encourage more community bred idea’s, but as you stated in your second point, good ideas will usually go to vote.
Thanks for bringing up this idea. I tend to agree with some of the thoughts shared by zeno and lesigh. Generally, any proposal that has good merits, is well intentioned, and is beneficial for the protocol typically tend to go up on snapshot. A lot of these proposals have participation from community members, sometimes are discussed on community calls, and other social channels as well.
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