Convex Proposal: Lower and standardize quorum to 15%

Convex currently uses a default quorum percentage for all governance votes on Curve.

20% for ownership proposals 10% for parameter proposals

The Convex team believes this quorum should remain relatively high, as individuals or groups who want to have a proposal pass should be expected to garner support in favor of their proposal. However, much of the vlCVX is delegated for gauge-weight voting, and is often forgotten/ignored for non gauge weight proposals.

In addition, with Frax Finance voting coming soon for vlCVX holders, the Convex team believes it’s in the protocol’s best interest to standardize the quorum to a singular percentage, rather than be different based on the type of proposal raised, or which DAO it’s from (Curve, Frax, potential future protocols). As an example, Frax Finance requires only 5% quorum for proposals, vs 20% or 10% for Curve proposals.

The Convex team proposes setting the quorum to a flat 15% across the board for vlCVX holders/voters, with the aim to bring better standardization for Convex votes, as well as make crossing quorum slightly less of a hurdle, while still maintaining a decent threshold to cross for proposals to reach quorum.