[ARCHIVED] Delegate Reimbursement

General Archive
1

There is strong interest within the BitDAO community to have a more diverse and spoken for delegate pool. This early forum post caught some of that sentiment …

[DISCUSSION] Allocate partner voting rights to community delegates

One of the challenges preventing this to occur within BitDAO Governance Phase 1 and state of the Ethereum blockchain are transaction costs.

:bulb:｜Delegate Reimbursement｜2022-Q1

I propose that BitDAO reimburse transaction costs occurred to those that delegate their $BIT to a Community Delegate during 2022-Q1.

Additional Parameters

I do believe that there should be some additional parameters surrounding this (IE: required duration of HODL, minimum amount of $BIT to receive this, other thoughts?) and will defer before calling this a “finalized draft”. Also not sure what is feasible from a technical implementation standpoint.

Simple Proposal

This isn’t a complicated or in-depth proposal. I personally would have voted on BIP-5 & BIP-6 but the transaction costs and perceived benefits left me with this looming question …

Does my voice really matter anyway?

This thought is one of the reasons that I didn’t delegate prior to today. Now that I have mostly completed BitDAO Community Delegate / Ambassador onboarding process, submitted my own delegate pitch (link to: forum post / tweet) … I felt that I should proceed with delegating $BIT to yonks.eth (myself).

Cheers,
~~ yonks.eth

8 Likes
2

There are a few technical issues here; it would be difficult to prevent a Sybil that would effectively drain the treasury by throwing delegations back and forth.

Aside from that, I believe a community delegation program (i.e. Æmbassy) is the solution to this, and our efforts are precisely why I stopped chasing delegation myself; community engagement is a process, but the snowball is rolling down the hill. From when I initially made that post there was next to no community engagement. At this point, I’m extremely impressed by the progress we’ve been making.

I also wonder if it would possibly serve to drive low-effort engagement.

If you take a look at the proposal discussions, as much as there’s high-level deliberation happening, there’s also quite a few people who drop in to disparage the OP. Usually with concerns that have been previously addressed earlier in the thread.

Just my two cents; but I believe if you consider what we’re aiming for in the new year, there’s the very real potential to facilitate delegations from individuals who would be incentivized to carefully consider why they are delegating. I think this will lead to high-level engagement and collaboration.

The new year is just a few weeks away!

2 Likes
3

Merry Christmas :christmas_tree:, Let’s make it huge!

2 Likes