End the Current/Obsolete Voting Incentive Program

Proposal: End the Current/Obsolete Voting Incentive Program

Summary/Abstract:

• End the obsolete "Voting Rewards Program"
• Reward those who voted on proposals from 10/30/2020 until this
• Reward users who vote on this proposal - THIS IS THE LAST VOTING REWARD.

Motivation: On 10/30/2020 a Proposal was passed allocating 200,000 RLY for voting rewards. The purpose of that proposal was to provide incentive for users to vote, as the voting system at the time wasn't counting staked Rally, therefore disincentivizing users who chose to vote instead of staking their $RLY

The split incentive issue has now been solved, as staked $RLY on Balancer/Uniswap pools are now eligible to be used in voting via Snapshot.

Since the initial issue has been solved, having a voting reward system actually creates a risk to the network by offering rewards to people just for voting. There are many ways this could be abused.

Further, due to the recent change from normal to quadratic voting, and loss of voting data, it's impossible to do the reward calculations as stipulated in the original proposal.

Therefore, this proposal seeks to end the "Voting Rewards Program", and reward 1,000 $RLY for each vote cast from 10/30/2020 through the end of this proposal, with a max of 5,000 $RLY reward per address.

A new discussion is being had on how we can create more community reward programs over at: https://forum.rally.io/t/proposal-redistributing-voting-rewards-towards-a-community-rewards-for-proposals/106

A YES vote for this proposal would accomplish the following:

• Ending the Voting Rewards Program that was approved on 10/30/2020.

• Distribute 1000 $RLY tokens per vote cast, up to 5,000 $RLY per address from 10/30/2020 through this proposal, this being the last rewardable prop.

• Returning the remaining $RLY to the community treasury.