[BIP-521] Cap individual voter weight on Snapshot

Background

See discussion here.

Over the past 18 months since the launch of veBAL, there have been a number of turbulent votes within the DAO, accompanied by gradual changes in voter composition. During this time a number of measures have been implemented to maintain balance of votes and voter integrity.

Whilst the reality of voting is quite nuanced, as Aura approaches 50% of the veBAL share it is becoming a concern that the distribution of votes is again becoming imbalanced and that action needs to be taken.

This BIP seeks to begin to address those concerns by putting a cap on the individual voter weight on Snapshot to 45%, meaning that Aura's voting power (and any individual voter) would be capped at 45% of the total supply of veBAL.

Specification

Update the settings in the Balancer Snapshot space to use the following strategy:

Strategy: delegation-with-cap

Body:

{
  "symbol": "veBAL (delegated)",
  "address": "0xC128a9954e6c874eA3d62ce62B468bA073093F25",
  "decimals": 18,
  "strategies": [
    {
      "name": "erc20-balance-of",
      "params": {
        "symbol": "veBAL",
        "address": "0xC128a9954e6c874eA3d62ce62B468bA073093F25",
        "decimals": 18
      }
    }
  ],
  "delegationSpace": "balancer.eth",
  "capPercentage": 45
}

Risk Assessment

This BIP changes the snapshot strategy which is a significant factor, although has been tested by both the author and by Snapshot developers. It can also be replaced if it does not function as expected.

Specifications

If approved, the DAO Multisig (which is set as admin of the snapshot space) will load the configuration delegation-with-cap and set capPercentage to 45 in the Settings menu via the snapshot gnosis safe app.