Governance Voting: Vote Participation, Time & Experience

Temperature Check
1

Proposal Overview

This proposal seeks to create support for voting and reduce barriers of voting.

  1. Reduce or credit back transaction fees
  2. Increase delegation opportunity
  3. Lengthen the time for voting periods.
  4. Decrease the chance for votes to be ‘sniped’ at the end of the voting period.
  5. Enhance Proposal quality
  6. Improved User Experience

Reasoning

  1. Stakeholders must pay transaction fees for voting and unlocking, which creates a barrier for stakeholders lacking ADA to participate. Reduce the number of transactions needed to submit all stakeholder votes.
  2. Expand on V2’s suggested delegation to enhance Delegation awareness and benefits. Allow stakeholders to increase LQ votes, reduce individual transaction fees, repay delegator transaction fees, detail delegation voter history or vote selections, or votes abstained from. Allowing stakeholders to collate opinions with voting power.
  3. To maximize turnout, increase the voting period to a longer window and the announcement period of a new vote. A minimum period of days before a proposal vote goes live should be standard. This allows stakeholders to prepare their research to vote as they see fit or seek a delegate with a similar view to vote on their behalf.
  4. Reducing the transaction fee cost with a credit back from the DAO treasury or another source will increase the total percentage of stakeholder voting. This can reduce the opportunity for a last-minute vote that changes the outcome. Previous votes have seen low participation because stakeholders want to save transaction fees when they believe a vote is heading to their desired outcome.
  5. Creating a cost to Liqwid will enhance the depth and detail of proposals and increase stakeholder engagement. Any transaction fee credit back to a stakeholder reduces the stakeholder’s revenue, thus Creating fiduciary requirements for governance.
  6. Aside from the differences of V1 & V2. Locking, unlocking votes, failed transactions, and lags in UX,

Current and newly proposed voting credit:

Current: Liqwid User self-pay pays transaction fees
New: 0.6 ADA max per voting transition fee
or consider this only for delegators who vote on others’ behalf.

**Enhanced Voting experience:

Explore ways to reduce the time to lock and unlock votes. strive for a one-click unlocks all option

Voting Period and leadup time

Temp Check should exist for at least one week to collect and create debate on the subject matter. Proposals should be announced five days before going live. This, plus voting time, gives LQ holders another week of discourse on the subject matter. A total of two weeks would be the minimum. Note that all critical proposals should move as fast as needed.

User Experience

Enhance a user’s ease of voting. Create voting guides that explain the basics of voting and how to lock and unlock. State known errors FAQ. Delegation overview and how to. Reduce the time and errors of voting.

Risk Considerations

A significant risk consideration with this update is the cost to Liqwid DAO to credit back governance transaction votes. This risk is mitigated by the community only executing well-thought-out proposals. Forum and Discord discussions should support a deep and thorough analysis of all proposals. Along with intelligent contract changes, new exploration could exist and require a new audit.

Specifications

Liqwid Labs developers still need to explore the technical requirements to implement the proposal.

Conclusion

Do you support this proposal to update Proposal Voting Fees and Time Window.

  • Yes - Lets increase Vote Participation
  • No - Let’s not change current approach
0 voters

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