BIP-3 Reduce Proposal Threshold

Original forum topic here: https://discourse.bitdao.io/t/discussion-reduce-proposal-threshold/906

Background The current Proposal Threshold is set to ~10M BIT tokens.

Note that the Proposal Threshold is the minimum number of delegated BIT an account needs to submit a proposal, and Voting Threshold is minimum number of delegated BIT that needs to vote on that proposal to be valid (currently 100M BIT).

Proposal: Reduce Proposal Threshold

Benefits: Enable more ideas to be proposed.

Downsides: Increased need for moderation. For example: 1) Proposals that do not meet the minimum vote duration of 7 days; or 2) Proposals that are not executable such as “lets partner with DAO XYZ”.

In our opinion, token swaps and partnerships require negotiation and analysis of key terms (such as exchange rates, vesting periods, use-cases for BIT token) and reasons why this cooperation makes sense for both parties. They are also often contingent on discussions and polling in the partner communities. These discussions need to happen before a token swap proposal goes to vote.

Token swap coordination, exploratory discussions and proposal ideation are more suited to the BitDAO Discourse and the BitDAO Discord.

Recommendation While proposal templates, guidelines, and moderation policies have not yet been defined, we recommend keeping the proposal threshold on the higher end: approximately 200,000 Delegated BIT.

*This proposal is authored by Cateatpeanut of the Windranger Labs team. All opinions are my own.