[MIP-24.2] Reallocating Maia DAO veHERMES votes

I. Introduction & Rationale

Following the successful ratification of Motion [MIP-24.1] and the overwhelming majority approval signified by a "Yay" vote for a re-allocation of Maia DAO's veHERMES votes, we are pleased to present the second phase of the proposal to determine the % allocations for each gauge.

In the spirit of continuity and honoring existing commitments, we propose to retain the current voting distribution in specific areas while introducing targeted modifications to optimize resource allocation.

II. Voting Distribution

A. Status Quo Maintenance (75%)

75% of Votes to remain unchanged in the following three groups: native gauges, negative gauges and starhermes committment.

1. Native Gauges (69%) Constituting 69% of the Maia DAO's veHERMES voting power, the allocation for native gauges, which include but are not limited to Maia/m.USDC and Hermes/Metis, shall remain unaltered as delineated in subsequent visual representations.

2. Negative Voted Gauges (1%) This segment also encompasses negative voting power allocated to negative gauges,

3. Prior Commitment (5%): StarHERMES/HERMES Gauge: In alignment with our previously established commitment post-Starstream's closure, a fixed reserve of 5% of Maia DAO’s veHERMES votes will be earmarked for the starHERMES/HERMES gauge.

B. Proposed Modifications (25%):

For the residual 25% of Maia DAO's veHERMES voting power, we propose the implementation of a Single-Choice Vote-Weighted mechanism, facilitated via Snapshot. This approach ensures both exclusivity and inclusivity since it only allows a single-vote weighted according to their % holding of sMAIA.

This reallocation strategy aims to optimize the governance of the following six gauges:

1. Hermes/Metis
2. Maia/m.USDC
3. Maia/Hermes
4. wETH/Hermes
5. Exclusive Gauge for Maia NFT
6. Metis/m.USDC

In this specific proposal and its corresponding voting outcome, we're deviating from our usual "single-winner" snapshot setup.

Instead, we'll use the percentage of votes each option receives to determine the percentage allocation of the remaining 25% of Maia DAO's veHERMES for the next epoch. This approach will continue weekly until the launch of V2.

III. Conclusion

Recognizing the invaluable insights that our community brings to the table, we strongly encourage all members to actively participate in this critical decision-making process. Your contributions in the form of thoughts, concerns, and questions are not only welcome but essential, as they will guide us in determining the most effective allocation strategy for Maia DAO's veHERMES votes leading up to the launch of V2.

IV. Additional Resources

https://lookerstudio.google.com/reporting/802c2aff-e842-45f4-a60d-69fd87a98bb4