CIP-53: Delegation Program Initiation

CIP: 53
Title: Delegation Program Initiation
Authors: c3rnst, middleway.eth
Status: Active
Created: 2024-11-1

Simple summary By highlighting Snapshot delegation features and promoting this delegate program, CoW DAO is creating a more robust, balanced, and effective governance structure. The delegation program fosters participation, enhances decision-making, and improves public discourse. It is a standalone improvement that strengthens CoW DAO’s ecosystem and contributes to its long-term success. This CIP includes a mandate to the GrantsDAO committee to review and approve delegates as “recognized” delegates and a soft definition of what that is.

Motivation The governance structure of CoW DAO is designed to adapt and improve. By fostering delegation, the aim is to increase participation and promote informed decision-making. Delegates are expected to serve as knowledgeable representatives of the COW token holders, acting in the best interest of the community.

As CoW DAO continues to manage and oversee the protocol, it is crucial to ensure that decisions are driven by well-informed, community-oriented judgment.

Details While many DAOs have implemented delegation programs, one common challenge is the gradual inactivity of delegates. Staying current with governance requires a consistent time investment. In this proposal, there are no additional incentives for delegates apart from holding greater voting power and influencing governance outcomes, though CoW DAO may revisit this aspect in the future - a good opportunity to kick-off the program now and for the community to gauge and discuss how to best iterate.

Snapshot’s delegation function can be viewed independently of active delegate management or an official program. Snapshot’s delegation ensures that governance can continue even if (recognized) delegates become inactive, by allowing anyone to become a delegate and for (v)COW token holders to remain in control. Voters will have full visibility over their delegation and can reassign or revoke their delegation at any time. No official updates are required by the program’s design.

Roles

Delegators As a delegator, you are and remain central to CoW DAO’s governance. You retain the ability to vote directly, even if you’ve delegated your voting power. You can reassign or revoke your delegation at any time. You can see voting details on each proposal’s page (in the time of writing, an RFP for governance analytics was live).

• Your tokens remain in your account and are not frozen when delegating.
• If you reduce or increase the voting power attached to your account, the delegate’s voting power updates accordingly.
• There is no expiration date set for your delegation, so make sure you do some ongoing due diligence.

Delegates Anyone can become a CoW DAO delegate. Candidates are encouraged to introduce themselves on the CoW DAO Forum and complete their Snapshot profiles. Becoming a delegate is permissionless, aligning with CoW DAO’s principles of decentralization. Delegates are expected to act in the best interest of the CoW DAO community.

Recognised delegates Recognized delegates have been vetted by a member of the GrantsDAO committee based on subjective evaluations of their expertise, knowledge, and contributions. These delegates must allocate 10,000 COW tokens to their delegate address, signaling alignment with the community’s goals. They are also expected to disclose any conflicts of interest.

Recognized delegates are key participants in governance, contributing through active engagement, proposal discussions, and sharing insights. Over time, recognized delegates may evolve into vital thought leaders within the ecosystem. CoW DAO may consider additional remuneration based on their success and contribution.

However, the committee may not continuously update the list of recognized delegates, so community members are encouraged to do their own research (DYOR) when selecting delegates.

Snapshots’s interface: Recognized delegates can only be found on the CoW DAO forum and don’t have a special badge on Snapshot. NOTE: Private delegates also appear on the interface, such as individuals who delegate to their own EOA for ease of voting, or a trusted party. Publicly available delegates are expected to include a Statement on their Snapshot profile. For delegation to become active (and visible on the interface) there can be a few hours delay.

Communication and information Upon successful passing of this proposal, a new “Delegation” section will be created on the CoW DAO forum, featuring sub-sections for delegates and recognized delegates.

Delegates are encouraged to introduce themselves here, and recognized delegates will be listed and maintained by the GrantsDAO committee. All official delegate information should be kept up to date by the delegates themselves, on their Snapshot profiles. Community members are advised to avoid delegating to those without a complete Snapshot profile.

Recognized delegates who wish to be included can reach out to the GrantsDAO committee through their Forum introduction.

Proposed transactions None