This is a proposal to remove snapshot quorum (currently set at 10%) and instead replace with a 7 day voting period.
Motivation
Achieving a 10% quorum on LIPs is a daunting task. While quorum has mostly been met for important votes, rallying voters can be time consuming. At this point in the Loot Project, we should let engaged community members decide the outcome of votes, and worry less about reaching a certain threshold. Increasing the minimum vote time (days that the vote is open) to 7 days achieves the same goal as a quorum in preventing gaming of the voting system, without forcing undecided, uninterested, or busy community members to vote.
Alternatives for discussion
We could implement a smaller quorum (say 2%)
We could better differentiate what exactly constitutes an LIP and reserve quorum votes for extremely important matters
Poll
Please vote in accordance with which path you think is best for loot at this current juncture.
Any ideas for what types of matters would be LIPs and what types wouldn’t? I’m generally supportive of the proposal but was curious as to whether this detail had been filled in yet.
I think it depends a lot on the project. I don’t have the numbers, but if someone does I would be very interested to see this. Honestly, its a bit hard to say “how hard it is to meet quorum”. I just know that I have been dissuaded from putting things forward because of the challenge.
Yeah, this is a great point. In my head we have the following, but this is totally open to interpretation:
LIPs = Loot Improvement Proposals = proposals to change fundamental aspects of the loot ecosystem. I.e. governance decisions like quorum, the formation of a board, etc.
Many things are not this. For example, in my mind the public goods funding program we previously passed was not an LIP, it was just a proposal.
Again I think there are probably many interpretations about this, but this is where I have settled for now. What do you think?