[AGIP-2] Lifting quorum for overwhelmingly supported AGLD proposals
Lift the 10% quorum requirement if a snapshot vote has been live for at least 7 days and gets a support rate of over 99%.
If a proposal has been live on snapshot for the AGLD community to vote for at least 7 days, and that over 99% of votes were for the proposal, such proposal will be regarded as passed even if the total votes have not met the 10% quorum requirement.
The voting for [AGIP-1] Adventure Gold Tokenomics Proposal v1 has concluded recently. Snapshot The result is 99.45% yes and 0.55% no. The vast majority of the voter was for the proposal to pass. Only one community member voted against the proposal. However, only 2.5m AGLD participated in the vote out of the total supply of 80M, which is short of the 10% quorum agreed in LIP-1 Snapshot
The 10% quorum was set by the Loot community, which makes sense since the vast majority of Loot NFTs are held by community members. In AGLD’s case, however, more than half of the AGLD are stored in centralized exchanges’ wallets, or in liquidity pools of decentralized exchanges. Therefore, it would be a lot harder for 10% of AGLD to participate in a vote than for 10% of Loot to participate in a vote. Considering this difference in token holder distribution, lifting the quorum requirement for an overwhelmingly supported proposal makes sense for the AGLD community.
To prevent the AGIP -1 from being stuck in limbo, and to allow for greater flexibility to AGLD governance in the future, we propose a modification to lift the quorum requirement for not only AGIP-1 but also for all future Adventure Gold DAO improvement proposals.
- The proposal should be well discussed on the community forum before posting to snapshot according to LIP-1.
- The proposal should be available for the community to vote on the snapshot for at least a week.
- The snapshot vote should have a snapshot block number that is mined no earlier than more than 24 hours before the start date & time.
- The proposal should get at least 99% of support as shown in the snapshot vote result after the end date & time.
- The proposal is retroactive/backward compatible. Meaning that if this proposal is passed the AGIP-1 is regarded as passed as well.
- For: I support this proposal
- Against: I am against this proposal