I would like to start a discussion on incentivization for voters and also some kind of retrospective rewards for past voters. Everything I will write below is just and proposition we should find the best way how to do this together. There were already some nice ideas on discord, but I’m moving the conversation here where it is more structured.
The problem:
Right now approx. 10% of PVFD holders participate in governance. I think this is a wilder problem in any DAO and that is why we see DAO incentives or retrospective rewards for voters in almost every Defi protocol. We have a huge treasury so why not use a small portion of assets to incentive people to participate in governance so we are more decentralized. I believe that activity from more people who will be interacting with DAO will also drive more value to DAO and also on secondary sales. Personally, I wanna hold assets that I can use to interact with the community and I have more emotions attached to them. I mean people participating in governance not really selling their assets so we could create more passionate long-term holders when they realize how active this DAO is and that they can have voting power on decisions. I know that people on this forum are true degens but there are still a lot of people who hold DAO NFTs and have no idea what DAO is or how it works and what are possibilities so this could also help educate people about DAOs.
1. Retrospective reward:
I believe that activity should be supported and rewarded. There is approx. 200 - 400 addresses voting on proposals. Even if we airdrop everyone who ever participated in the with 1 Mintpass it would not hurt the treasury. But we could add more requirements based on our discussions.
For example:
We could reward only people who voted at least on 2 proposals
Eligible would be only people who still hold their PVFD (There is no point to reward people who voted a few times and after that, they exited the DAO and sold their PVFD tokens)
2. Future rewards:
There was a nice idea on discord that we could randomly giveaway up to 5 Mintpasses or cheap PlanetaryDAO tokens to x number of random voters for every vote. I personally like this idea because it is more sustainable than rewarding everyone with every vote. The possibility of winning those assets could drive people’s attention to find out more about Founders DAO and raise their motivation to participate in governance so the DAO is more Decentralized and there would be no problem reaching quorum.
End:
Let me know what you think about it. Feel free to propose different ideas or suggest an adjustment to the ideas above.
I dont think we should reward everyone just for voting; in an ideal world we wouldnt even have to incentivize this in the first place. But I definitely think there should be some kind of lottery with rewards for anyone actively voting to help ensure we dont struggle to hit quorum. I also like the idea of a one-off retrospectively rewarding active voters because they did so with no expectation of a reward.
In a perfect world we wouldn’t have to consider this but apparently we do.
I think the best solution is always aiming for retroactive rewards with somewhat random timeframes, something like participated in 80% of the votes the last quarter or similar. (And yea, must still hold membership to the DAO)
If this is done, and with enough value it might create enough incentive to keep people interested, question is if it also keeps them informed and/or how we could incorporate this without just making people ‘vote for the winner’. Voting purely to vote only benefits reaching quorum.
I think this makes sense in general, but I don’t think it incentivizes the correct demographic. People who don’t vote generally will not care about who is elected into pods (imo), so while a good incentive for active governance members it would probably have a limited impact on the number of voting members.
Yeah it won’t have the same impact, but maybe it’s a small step in the right directions. The more benefits, the stronger the fuzzy satisfactory feeling when participating
I think the idea of incentivisation is a good one. It shouldn’t only be for voting though. A part of the strength of the DAO is the ability to use the forum and ‘wisdom of the crowds’ to create better ideas for implementation. I would love to see some sort of levelling for contributions to general discourse AND voting. I know that the forum has some basic features for recognising participation and awarding badges but it would be good to link this with incentivisation. The reality is that in real life voting systems almost always include incentives e.g. politics where parties try to lure us with pre-elections promises like lower taxes etc or Corporate Annual General Meetings where it is more about greater profits and generally dividend yields. If we want to have a really vibrant community there should be some sort of incentive in operation.
I appreciate the thought and writeup. At this moment, I do not think we require any sort of rewards/incentives for voting participation. Ideally, we would never have to do this. As of now, most important proposals have passed/failed with the sufficient votes needed for quorum.
I would not support using our assets to incentivize voting, and I probably never will - unless there is a huge issue - which I dont see right now.
