Proposal: Update quorum and supermajority requirements

DAO Archive (SUBMITTED)
33

Update after the last round of votes

Given that the last round of votes saw a large amount of vBNT staked in governance, I’ve made the same analysis than the one in this post for the 3 last rounds.

Figure 1 compares the voting demographics before the 23rd of May and for the last 3 rounds of voting.

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Figure 1 - Statistical Analysis of the vote rounds before the 23rd of May and after.

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Figure 2 - Average voting % after first participation per wallet staked in governance.

Some comments:

  • The sample of voters from the 23rd of May is significantly larger than before that date. Most wallets had staked recently and were most likely to vote.
  • vBNT that has never voted on snapshot didn’t change too much, but its share of the quorum dropped to less than half of before.
  • Some inactive whales voted on the last rounds. I believe this indicates that expanding the reach of the BancorDAO on different social media is definitely important to increase the voter participation.
  • The average active vote participation increased by 73%, due to the vBNT that was recently staked, from 30% to 52%.
  • The total vote participation (counting inactive wallets) increased by 89%, to 36%.
  • Wallets’ vBNT that voted more than 60% and 70% has increased by more than 6x.
  • The list of addresses with vBNT staked in governance was taken from Dune Analytics on the 6th of June 2021. Some addresses might have staked before the last round of proposals started and were therefore considered inactive incorrectly.

It’s definitely refreshing to see such an increase in voter participation. However, one should remain cautious and understand that it most likely will stabilise at lower values. Therefore, I believe that the average total participation of 36% still justifies a 30% quorum for whitelisting, coinvestment increases proposals as well as BIPs. A compromise to change it to 35% can be considered however.

Finally, increasing the supermajority requirements for those proposals should be debated. Do consider that most of the non-controversial proposals pass with a resounding FOR ratio.

Please share your thoughts in this thread.

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