Add quarterly AMM sessions; amend the proposal process; define a mission statement; and provide consistent information through different services.
- I would like to see a formal proposal
- I am not interested in seeing more
To ensure the success of Volta and address problems before they arise, it is important to strengthen our foundation. This proposal aims to add elements and make amendments to ensure higher transparency and increase the trust in the project.
Rather than making separate proposals, this is a collection of four important elements that can benefit Volta and can be easily implemented without much cost. If some of the elements are liked while others aren’t, the proposal can always be split.
For some time, there has been a growing disconnect between team members and holders. While some questions are answered extremely quickly by certain staff, some important ones go unanswered. This is not because someone doesn’t respond, but it’s usually not the right person from the correct department, resulting in some holders losing faith. Additionally, being asked the same questions repeatedly is counterproductive.
To bridge the disconnect between holders and the Volta team and ensure the right information is conveyed from the correct department, a quarterly AMA will be held. This proposal doesn’t define the exact way the AMA sessions are conducted but should follow the following framework:
- Quarterly sessions will be held on the first Sunday after the quarterly treasury report has been published.
- At least one member from each department should be present to answer questions directed towards them. If unable to attend, questions to that department will be answered at the earliest opportunity.
- Questions should be allowed to be asked in advance.
- During the sessions, questions should be answered, and new questions should be taken if time allows.
- If the session becomes too long and not all previous questions have been answered, they will be subsequently addressed as soons as possible.
- All questions and answers should be saved and archived for anyone to access.
- A summary of the questions and answers, with the most importance based on the team’s opinion, should be compiled and posted on appropriate channels such as Discord, Twitter, and the forum.
Amendment to Proposals
The current system allows anyone with 1% of Volta tokens to submit a proposal as a snapshot without the need for prior discussion. This has proven problematic, as seen with the passage of CMP 3, which was posted without substantial discussion, leading to a misunderstanding of its intent and implementation.
To ensure increased visibility and better understanding of future proposals, this amendment introduces a 7-day rule. Proposals must be present on the forum for at least 6 days before being posted on the 7th day onwards.
This proposal does not establish a standard for writing proposals.
Small edits, such as grammatical corrections or changes in wording without altering the meaning, will not affect the rule. However, any significant changes that modify the original proposal’s meaning will trigger the rule until no such alterations occur. An example of such an edit to trigger the rule is if a proposal to buy $1 of BTC is changed to $2 of BTC. Six more days will need to pass before a snapshot can be posted.
Any snapshots posted without following the 7-day rule shall be considered null and void.
While the most obvious answer to what Volta does is to make money, the goals of Volta should be clearer for all current holders to understand exactly what does Volta do, and for new investors to know what they are joining. On Debank, such a statement can be found: “Volta Club is a DAO actively pursuing alpha opportunities across networks, with a fixed token supply and strategic buybacks to align project success with token value, benefiting all holders.” However, it cannot be found on Discord or the website.
If the above-mentioned statement is the official one, it will be added across all official communication channels. Additionally, there should be a further explanation with a bit more detail on the official mission statement.
The supply of Volta tokens is available on the website. However, other trackers such as CMC and CoinGecko either do not track it or are widely inaccurate. While this may not be a significant issue for existing holders, it can cause confusion and unnecessary questions for potential holders.
To ensure information about Volta, such as the Total Supply and the above-mentioned Mission Statement, is readily available, the team will be responsible for continuously updating the most used and well-known tracker websites, wherever possible.
It will be up to the team to decide which service is worth updating.
Now vs The Future
While it has been stated that the goal is to benefit existing holders without necessarily capital from new investors, sooner or later, a ceiling will be reached. The treasury doesn’t have unlimited funds to keep doing buybacks forever, and as the price increases, it will become more and more difficult to sustain.
To resolve such problems and allow the influx of new ideas and discussions to further Volta as a protocol, it is important to start thinking and working to attract new holders. While this proposal doesn’t suggest marketing or anything similar, it aims to utilize existing services to make existing information clearer and easily accessible for all.