Should Voter Power Delegation be activated in Decentraland’s Snapshot Space?

by 0x9982b469910c2ee2ea566dcfcc250cdd34056397 (MrEric)

Overview

On May 25, 2021, a poll was created suggesting the activation of VP delegation in Decentraland’s Snapshot Space. The poll received 68% (4,322,367 VP) voting YES (in support of VP delegation) and 32% (2,065,731 VP) voting NO (in opposition to VP delegation). You can view the original poll here.

However, due to the subsequent debate within the community, the DAO Committee recommended postponing the activation of VP delegation to allow for continued discussion. The Committee also called for the creation of a summary of the pros and cons of VP delegation to help inform voters leading up to this second, and final, poll in the DAO deciding whether or not to activate VP delegation.

Please carefully review this report on the potential impacts of VP delegation before casting your vote.

Specification

Activating VP delegation in Decentraland’s Snapshot Space would allow users to delegate their voting power to any address in one of two ways:

1. Via Snapshot’s UI at https://snapshot.page/#/delegate
2. With a smart contract by calling the ‘setDelegate’ method

Delegating VP in Snapshot requires an on-chain Ethereum transaction, which incurs a gas fee.

VP delegation in Snapshot is not transitive, and a user who has delegated VP to another wallet can still vote with their own VP on any proposal at any time.

More details on how delegation is implemented in Snapshot can be found in the Snapshot documentation.

Benefits

• Helps to mitigate the risks of voting with LAND stored in cold (hardware) wallets
• Allows LAND stored in smart contracts to contribute VP to votes
• Allows users to empower trusted subject matter experts

Risks

• Increases the risk that VP will be bought and sold
• Concentrates VP to a smaller number of wallets, increasing the risk of making difficult-to-reverse decisions
• Increases the risks of community grants fraud

For

Activate VP delegation in Decentraland’s Snapshot Space

Against

Do not activate VP delegation in Decentraland’s Snapshot Space

• For
• Against

Vote on this proposal on the Decentraland DAO