Summary:
This proposal seeks to update the governance quorum requirement from the current 9,500 votes to 15,500 votes. This change represents 7.5% of the delegated voting power, pivoting away from a quorum based on circulating supply to one based on delegated voting power, which can be viewed here. This proposal is presented over a year after the last revision of the governance quorum, Proposal 65, reflecting the need for an update in line with INV’s inflationary supply, the DAO’s growth and engagement trends.
Rationale:
Since Proposal 65, there has been an increase in voting weight participation within our DAO (see table below). Out of the last 52 proposals since the start of Q3 2023, 46 have surpassed the proposed new quorum of 15,500 votes. In that time frame, the average votes per proposal has been 43,722, suggesting that our community is more than capable of meeting the proposed quorum threshold.
| User | Delegators | Vote Count | … Since Start of Q3 '23 | … As a % of Proposals Tot | Current Vote Weight | … % |
|---|---|---|---|---|---|---|
| 0x75…f430 | 4 | 115 | 38 | 73.08% | 85852.03 | 41.69% |
| 0x3F…cB28 | 10 | 14 | 1 | 1.92% | 38836.24 | 18.86% |
| 0x96…9255 | 43 | 142 | 45 | 86.54% | 15543.46 | 7.55% |
| 0x2C…2dfD | 5 | 32 | 0 | 0.00% | 11805.05 | 5.73% |
| 0x69…909D | 2 | 3 | 0 | 0.00% | 6430.81 | 3.12% |
| 0xC5…B884 | 9 | 28 | 19 | 36.54% | 4856.66 | 2.36% |
| 0xE5…9413 | 28 | 106 | 25 | 48.08% | 4219.28 | 2.05% |
| 0x04…782f | 4 | 23 | 17 | 32.69% | 3655.11 | 1.77% |
| 0xEf…272E | 1 | 16 | 0 | 0.00% | 3378.28 | 1.64% |
| 0x41…d3b4 | 1 | 5 | 0 | 0.00% | 3288.92 | 1.60% |
By increasing the quorum, we aim to ensure that decisions made within the DAO are more representative of its active members. A higher quorum will push for decisions to be made with broader community support. At the same time, shifting the basis of quorum from circulating supply to delegated voting power aligns more closely with actual voter engagement and participation. This change reflects a more dynamic and representative governance structure. The quorum will now be based on 7.5% of the delegated voting power, rather than a percentage of the circulating supply.
Conclusion:
As our DAO continues to grow and evolve, it is imperative that our governance structures adapt accordingly. This proposal is a step towards ensuring that our governance model remains robust and suitable for our community’s needs. Upon approval, this change will be implemented immediately for the next governance cycle.