Slight amendment/addition to Reji's idea about voting, pooling, and rewards

by Rish - Midas Guardian - Date: Jul/09/2018
YES: 1,590 20
NO: 875 7
3.5%
1.9%
No
Yes

This is a potential solution to the issue of too many projects being voted through the pioneer phase. Projects where people will not contribute should not be voted through, and neither should projects that do not have good fundamentals. Even if a project passes the expert round, it needs to be under sufficient scrutiny by pioneers as well, but the hope for staking rewards can influence a yes vote. Therefore, instead of a 50% threshold yes vote power, that requirement should exist *along with* an ETH threshold, similar to a soft cap, based on an "expected contribution" by each pioneer. This way, we have a double requirement among pioneer voting to ensure a project is of good quality. This would also allow a well-intentioned pioneer to vote yes on a good project even if he/she does not have ETH available to pool (say, for example if much of his/her money is tied up in Midas token), while also receiving the staking rewards that incentivize pioneers to hold MAS in their wallets, thereby raising the value of the token.

Comments

GT Midas Jedi
Jul 13, 2018

I agree. Thanks!

GT Midas Jedi
Jul 13, 2018

Hi Rish, just to be clear, do you mean if a pioneer has no spare cash but likes the project, they can vote YES but enter 0 ETH for their expected contribution? I agree it'll create problems if you add a penalty for voting YES, but have no penalty for voting NO. Thanks,.