Proposal: Activate Abstain Feature

TLDR

• Snapshot recently added an Abstain feature, which was discussed in a thread on our governance forum.
• Choosing to ABSTAIN means that the voting power shall count towards quorum but bear no weight on the FOR and AGAINST options.
• The Abstain feature is a highly requested one. Voters that don't want to choose a FOR or AGAINST option but still want to contribute to quorum can now do so.

Abstract

The Abstain feature was discussed extensively at https://gov.bancor.network/t/snapshot-feedback/2897.

Here is an example of how FOR and AGAINST percentages, as well as Quorum, are calculated:

FOR: Number of votes casted FOR Percentage: (FOR / FOR + AGAINST) AGAINST: Number of votes casted AGAINST Percentage: (AGAINST / FOR + AGAINST)

ABSTAIN: Number of votes casted ABSTAIN Percentage: ABSTAIN / (FOR + AGAINST + ABSTAIN)

QUORUM: (FOR + AGAINST + ABSTAIN) / TOTAL STAKED vBNT

Note that neither FOR nor AGAINST option is taking into account the ABSTAIN option. We as a DAO can use these to know whether a vote has supermajority requirements (66.7% or greater).

With real numbers, this would look like the following:

10,000,000 TOTAL STAKED vBNT (for voting) 2,000,000 FOR votes (80%) 500,000 AGAINST (20%) 4,000,000 ABSTAIN (61%) (2,000,000+500,000+4,000,000) / (10,000,000) = 65% QUORUM

A dummy proposal was created on the Bancor snapshot to test the Abstain feature and can be found here.

FOR Activate Abstain feature.

AGAINST Don't activate the feature.