Updated (and new!): Lower GTC Voting Thresholds on and off chain

Intro

This Snapshot vote serves to determine whether or not to approve the adjustments to the voting thresholds as proposed in this proposal: https://gov.gitcoin.co/t/proposal-updated-and-new-lower-gtc-voting-thresholds-on-and-off-chain/17410

Details

This proposal is making amendments for a previous proposal that is seeing some technical difficulties with implementation.

Original Proposal Recap

Our initial proposal aimed to empower a broader range of GTC token holders in the governance process by reducing the dominance of large holders. The key points were:

• Lowering the quorum threshold from 2.5M GTC to 1M GTC for both on-chain and off-chain voting.
• Reducing the initial proposal threshold from 1M GTC to 150K GTC.
• Keeping the current time and duration for voting procedures intact.

Revised Proposal Details

Based on technical advisability, the revised proposal is as follows:

• Maintain Quorum Threshold: While the original plan was to reduce the quorum threshold to 1M GTC, we don’t want to deploy a new governor to make this change.
• Reduce Proposal Threshold: Lower the requirement to initiate a proposal from 1M GTC to 150K GTC, making it easier for a wider range of stakeholders to actively participate in governance.
• Maintain Current Voting Processes: The existing timeframes and procedures for both on-chain and off-chain voting will remain unchanged to ensure continuity and stability in our governance operations.