This is a proposal to remove snapshot quorum (currently set at 10%) and instead replace with a 7 day voting period.
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.
- 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
Please vote in accordance with which path you think is best for loot at this current juncture.