Proposal To Modify Current Governor Mills Voting and Proposal Limits

1

Submitted by patb

Summary

Reduce GovMills quorum to 3,000 INV, reduce minimum INV required to post on-chain proposal to 500 INV, and increase max number of simultaneous proposals per delegate to 2.

Background

Inverse Finance has a large number of un-delegated and non-voting INV which due to high gas costs or lack of interest do not vote reliably within the Inverse Finance DAO governance model as currently implemented. Existing delegates may on their own lack sufficient votes to submit proposals or do not participate in Governance at a level required to support a high volume of proposals.

The growing number of draft proposals awaiting posting on GovernorMills as well as expected growth in proposals requires more frequent posting of new proposals.

Situation

Current sub-optimal governance execution is costing the DAO revenue, key alliance relationships, and goodwill among community members. It is essential that we address this if we are to scale and particularly with what is likely to be a large influx of opportunities and resulting proposals resulting from the INV+ launch.

Off-Chain Actions

  • Require new proposal to be posted in this forum for 3 days before moving to the on-chain vote. Discussions in discord or other places are to be disregarded unless cited.
  • Require new proposals to be posted for at least 24 hours in Draft mode in GovernorMills before moving to the on-chain vote.
  • Require new draft proposals to be announced in the Announcements channel in Discord at the time the draft is posted.

On-Chain Actions

Update GovernorMills 0xbeccb6bb0aa4ab551966a7e4b97cec74bb359bf6 parameters as follows

  1. Minimum Quorum required for a vote to pass: 3,000 INV.
  2. Minimum Voting Power required to create proposals: 500 INV.
  3. Increase max number of simultaneous proposals from 1 to 2.
1 Like
3

maybe we can have a voting rating per holder, and the more you don’t vote the more you lose some APY. no need to add more incentives for voting, but decrease for not voting.
and we can add it to this proposal if possible, we can’t keep waiting and lose progress until we find the right balance of votes.
it must be done while we move forward, there are things that needs to be voted for already

4

I think this is a necessary proposal; it will ensure the Inverse DAO can build and sustain the great momentum that we have currently! Looking forward to this being put on-chain.

2 Likes
5

Great idea. We need to make it easier to propose and approve proposals before we ossify into a defi dinosaur

3 Likes