In order to post a proposal on snapshot.org, a holder is required to have 1% of the VOLTA circulating supply, currently around 2.7k VOLTA (~$450k at the current price). I propose to lower the threshold to 0.5% of the circulating supply.
Low Level Details:
As it’s already happening, the team has to calculate 1% of circulating supply and periodically update the threshold on snapshot.org. Simply use 0.5% for that calculation instead.
The requirement must be updated as soon as possible if this vote passes.
I agree with this proposal, as I think it will benefit governance in the long term, create buying pressure for invested parties, and give the community a better ability to function as a dao.
Why is there such a high ownership requirement to initiate a proposal? Even an ownership requirement of 0.5% means that only 200 people in the whole world can create a proposal.
If the project has 10k holders, that means only 2% of holders can create proposal. This is not decentralized in any way.
IMO the threshold to create a proposal should be at most 10 Volta.
This is to make sure that sham votes don’t make their way into the system. Would you want someone with only $1840 worth of skin in the game to decide the fate of the project, or someone with $450k worth of skin in the game?
Anyone can start a proposal. Only those with 1% holding can post a Snapshot vote. And the assumption is that if the proposal works in favour of the project, a person with at least 1% holding would have no issues sponsoring it.
You have gotten it wrong, anyone can propose something. The requirement for at least 1% holding is simply to initiate the Snapshot vote.
Also, you are overly optimistic about people and their voting behaviour. Most people choose not to vote, most don’t even read this forum. I would rather someone with significant skin in the game to be the gatekeeper of decisions regarding the protocol and token.