DAO Protection, Equality and Governance safety.
I would like to make a proposal of the following to be implemented in the near future:
The proposal contain 3 part. And all 3 parts should be implemented in order to take effect and make the difference most efficient.
1.1 - DAO Snapshot process and why:
Whenever there is going to be a voting, the snapshot herefore should already be taken. I propose that a
min. day should be snapshotting 3 days and up to 14 days ahead of announcement of a certain vote.
- Why: To keep the DAO governance system safe and prevent gaming the system by: Buying a lot of tokens
when you see there is a vote for you advantage. Make the Vote. Sell tokens again. - How: The snapshot must be taken before the proposal goes to the “RFC” state
1.2 - Voting for newcomers and why:
When any newcomer buys the tokens and and enters the wonderland ecosystem, no matter how many
tokens they have bought, they will only have 1 vote for the first 14 days in the DAO.
After the first 14 days, everyone is equal, and they can vote like everyone else.
- Why: We want only people who are committed to the project as long timer, to be able to vote. And awoid manipulation
- How: When snapshot is taken for a certain vote, all wallets´/holders = or < than 14 days wont be able to
vote with more than 1 vote.
1.2 - Voting Power in a Democracy and why:
The distribution of voting power in the DAO (almost all DAOs) is rediculus. Why is most voting power in the
defi space, counted against money (token holdings) and not persons? Democracy IRL is 1 vote per person
and that doesn’t matter if you are rich or poor.
- 1.2.1 There should be a max voting power if people have investet a lot of money in the protocol. I think max
votes should be 100 pr. Wallet. (or maby just 50) - 1.2.2 There should be some control of the voting power. The more votes you want (max 100) the more
token hodl is required. Eks.
Like to get one vote hold min. 0.01 wmemo in your wallet. You will get one vote for each 0.01 wmemo
till 0.1 wmemo. Then you will get one more for each 0.1 till 1.0 wmemo. And then 1 vote pr. 1 wmemo.
Conclusion: if 1 wallet holds 3 wmemo it has the VP of 22.
If one holds 0.5 it has the VP of 14. One who holds 10 have the VP of 29 votes. An if you just hold
insanely amount of wmemo you got max VP of 100 votes.
- Why: To prevent that 100 people can take control of the protocol and ecosystem with 50K active members. To
make a fair and democratic distribution of Voting Power and at the same time, take into account that some
holders have more invested than others. To prevent a few holders to game the protocol and run with
rewards.
I am aware of that you can game the Voting Power system, by splitting your tokens into more wallets. No
matter what, you will only have 100 votes per wallet. You will have to make the split. That’s why the first
two options are there.
This will secure the DAO, the Democracy, The wealthy, the poor and the Voting Power while preventing
people from gaming the system.
Think about it and comment please.
Lets make Wonderland Bulletproof.