Proposal to Activate Abstain feature on Snapshot
TLDR
- Snapshot recently added an Abstain feature, which was discussed in a thread on our governance forum.
- Choosing to ABSTAIN means that the voting power shall count towards quorum but bear no weight on the FOR and AGAINST options.
- The Abstain feature is a highly requested one. Voters that don’t want to choose a FOR or AGAINST option but still want to contribute to quorum can now do so.
Abstract
The Abstain feature was discussed extensively at Snapshot Feedback.
Here is an example of how FOR and AGAINST percentages, as well as Quorum, are calculated:
FOR: Number of votes casted
FOR Percentage: (FOR / FOR + AGAINST)
AGAINST: Number of votes casted
AGAINST Percentage: (AGAINST / FOR + AGAINST)ABSTAIN: Number of votes casted
ABSTAIN Percentage: ABSTAIN / (FOR + AGAINST + ABSTAIN)QUORUM: (FOR + AGAINST + ABSTAIN) / TOTAL STAKED vBNT
Note that neither FOR nor AGAINST option is taking into account the ABSTAIN option. We as a DAO can use these to know whether a vote has supermajority requirements (66.7% or greater).
With real numbers, this would look like the following:
10,000,000 TOTAL STAKED vBNT (for voting)
2,000,000 FOR votes (80%)
500,000 AGAINST (20%)
4,000,000 ABSTAIN (61%)
(2,000,000+500,000+4,000,000) / (10,000,000) = 65% QUORUM
A dummy proposal was created on the Bancor snapshot to test the Abstain feature and can be found here.
FOR
Activate Abstain feature.
AGAINST
Don’t activate the feature.