GFM-001 results and setting voting thresholds

Hi everyone,

After the passing of our first vote: GFM-001, we now have a chance to review the key metric we set out to: The community participation threshold.

Threshold review
To summarise participation in the voting process, a total of 1,040,000 staked PERC voted, this figure represents:

  • 35.79% of staked PERC
  • 11.45% of the liquid PERC supply

Moving forward it appears the 10% liquid PERC supply is a relatively safe measure. We are able to balance both community input and security of the voting process. That said we understand several inputs may change over time, being that liquid supply is regularly increasing and not all parties will be staked at all times.

As a future-proofing measure against changes we see a relatively safe path in utilising an OR function in the minimum voting threshold, as follows:

  • 10% of liquid PERC OR 33% of staked PERC must be used in voting to reach the minimum participation threshold.

Being that we have implemented a 6 month grace window on DAO modification votes (see further details), we will be able to implement this change in the next vote held. Prior to implementation this topic will be left open for discussion, should any of the community feel they do not agree with, or wish to see changes made to the proposed parameters.

Future iterations
As being dynamic is a key consideration for the DAO, it has been noted that 2 stage voting on smaller proposals may be an overly protective measure. As such a future iteration of the DAO voting process may be as follows: For proposals < x$, only subcommittee consensus (a stage I vote) will be required. The parameter ‘x’ in this case may be:

  • A static figure such $100,000
  • A dynamic figure, such as 25 BPS of all treasury assets

As making any changes to the voting platform itself will require dev capacity, developing a proposal for the above changes will ultimately be in the hands of product subcommittee @amos, @Mike and @Lien, should there be capacity available when considering there are higher priority ongoing builds.

Should the community or contributors outside of the product subcommittee wish to see the above proposal made a higher priority, the correct path to suggesting these changes will be via making a post in the proposal suggestions forum.

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