Proposal Title:Proposed changes to BitDAO governance parameters
Date:12th April 2022
How will your proposal, if activated, benefit BitDAO?
Small bag holders will have a stronger incentive to participate and propose changes.
Stronger community engagement
What are the projected outcomes?
More proposals to be voted on as an expected outcome.
More moderation will be required but small bag holders as a collective can be heard
How long will it take to complete your proposed changes?
Who is involved?
What are the milestones?
None. Besides the possibility of changing the number of bits necessary for a petition.
- Timeline: Immediately if voted on
- Budget: $0
- Add technical details and/or links to source documentation: None
- Include any other relevant details on how this proposal will be accomplished
As I came across BitDAO, I’ve realized its the same voting requirements as other DAOs.
Despite the changes from 10 million to 200k bit requirement,
the small holders still rely and depend on large holders and whales to convert the proposal into a vote.
It does not incentivize small holders like myself to make proposals and contribute to the growth of BitDao. After all, our soft proposals can get all the traction and discussion we want but without a 200k holder, it can never be passed.
In a perfect world, this wouldn’t be an issue. However, there are countless scenarios where conflict of interest occurs between a whale and a small bag holder.
That being said, I understand the need for moderation and to not be flooded with on-going votes as that may take the spotlight from truly necessary issues.
Why not empower the less wealthy with a solution like, a petition.
If a petition to vote on a soft proposal reaches 200k or say 500k bit votes, it will voted on by the rest of the community as it proves a sizable portion of the peope deems the proposal worthy.
Let’s be honest, a 200k bit voter at current value has at least 200k USD invested in a single coin that is not BTC or ETH. The derease from 10 million to 200k does not effectively help very much. What was changed was the fact that whales no longer hold all the power, big bag holders share that power too.
Proposals should not be limited by the amount of money you have. Please let everyone have a voice and power.