ivelin117 Please correct me if I am wrong, could you create a large number of new wallets and deposit just 1OHM in there to gain cheap voting power?
I imagine this would be a complicated thing to execute, but what Olympus creates a voting structure that is based on multiple metrics that are linked to wallet activity and are managed and adjusted by the policy team? (through OIP's)
- Time Staked (30%)
- Amount of Proposals voted for (10%)
- Holdings of gOHM (60%)
You could then rank someone's wallet activity by putting into levels, for example;
Level 1: Time staked 0 - 30days = 5/100
Level 2: Time Staked 30 - 90 days = 20/100
Level 3: Time Staked 90 - 180 days = 50/100
Level 1: Voted for less than 5 Proposals = 5/100
Level 2: Voted for 5 - 20 Proposals = 20/100
So, in practice that would look like this:
Bob has been holding its 3 gOHM since 1 October. He has voted for 6 proposals.
- Time Staked Level 2 = 20/100 -- 20 * 30% = 6
- Voted for Proposals Level 2 = 20/100 -- 20 * 10% = 2
- gOHM Holdings Level 3 = 40/100 -- 40 * 60% = 24
Total Voting Power = 32/100 (6+2+24)
I think the problem I have seen the most when it comes to strategies to achieve truly decentralised governance is the ability for people to create a bunch of wallets to exercise more influence on the DAO.
Focussing on a persons' activity within the Olympus protocol is something that makes more sense to me (and is a lot harder to be replicated). Again, I have no f clue how to implement this, but I think this is the direction we would have to go to make the DAO truly decentralised.