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1IP4: Change default vote for non-participating stakers to NA
1ip: 4 title: Change default vote for non-participating stakers to NA status: Draft type: Information author: martin112112 created: 2021-01-06
Change default vote for non-participating stakers to NA
Currently, staked tokens that do not participate in voting are by default assigned an arbitrary value. For example, for Reward distribution, the default value is 33%/33%/33%. As a result of that, accounts that participate to earn governance rewards and have no interest in voting actually skew voting outcomes. Hence, voting does not reflect the true preferences of active governance participants and may lead to inefficient outcomes as there is a strong status quo bias. This can in turn be a demotivating factor for active voters.
Therefore, I propose the following: Set the default vote value to NA and exclude addresses that do not explicitly vote.
One could also argue that governance rewards should be conditional on active voting. However, even in such a case the problem above still occurs as stakers won't likely vote on all parameters of the protocol. Hence, such a proposition should be handled in a separate 1IP.
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I 100% agree. I staked in government but don't vote due to high gas fees. I'd love to delegate voting to active voters assuming they will vote as I expect. if not, I would have a chance to vote myself. very good idea to exclude passive votes. How we make this a formal proposal?
@martin112112 @cyptofan @mickjoi sorry for hijacking the thread for a trivial question. I'm new in this thing. From where can I vote if stake this token in Binance?
