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AmpleforthAmpleforthby0xC18ee6bF19aEccbC5985f68A4f10F4cB2D2BcB51capsaicin.eth

Lower proposal threshold to 75,000 Forth

Voting ended over 3 years agoSucceeded

From the snapshot vote:

Problem To submit on chain proposals for voting on Tally, the current threshold is 150k Forth, which is currently over half a million USD. This makes it hard to submit proposals and only very few individuals with enough voting power can submit. While this is good for security it is bad for decentralization and inclusion of the community.

Solution Lower the proposal threshold to 25k FORTH (about $95k USD at time of writing). This will allow for a smaller group of community members with enough stake to make a proposal without requiring a team member or mega Forth whale to submit the proposal. Quorum will still stay at 600k FORTH

Risks Spam - with a lower threshold we invite more potential proposal spam and could reduce the quality of proposals. However with 20k Forth I think we strike a balance between difficultly to propose and enabling more independent proposal submissions Gas - more proposals mean more gas spend required for on chain proposals. Delegation is a good way to work around this problem. Again with the right balance they should still be high quality proposals that Forth holders would want to vote on Governance attacks - this doesn’t really increase the threat of gov attacks because in order for the attacker to get the vote to pass they still have to get enough Forth for a quorum.

The current proposed number of 25k Forth was based on the USD value of the time of the poll in the forum post here: https://forum.ampleforth.org/t/lower-proposal-submit-threshold-for-on-chain-voting/445/10?u=kbambridge

UPDATE Brandon found and I verified that there is a hardcoded minimum of 75K Forth set for a proposal threshold in the contract code currently. For now this proposal will set the threshold to the theoretical minimum of 75,000 Forth, but in the future if an upgrade to lower the minimum in the governance contract is approved we can set it closer to the community target between 15-35K.

Link to Source Code: https://github.com/ampleforth/Forth/blob/e8498423870a6698e8f06a2a74a04f298f1aab82/contracts/GovernorBravoDelegate.sol#L13-L14

Thanks for participating in this vote and engaging with Forth DAO governance. The goal of this proposal is to get more engagement from the community in Forth DAO and allow good ideas to get to the point of being proposed on chain without adding much risk or friction.

Off-Chain Vote

Lower to 75,000 Forth
2.31K FORTH63.2%
Upgrade the contract first
1.35K FORTH36.8%
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Discussion

AmpleforthLower proposal threshold to 75,000 Forth

Timeline

Jul 18, 2022Proposal created
Jul 19, 2022Proposal vote started
Jul 22, 2022Proposal vote ended
Jul 22, 2024Proposal updated