[BIP-2] Reduce amount of BITs required to submit governance proposal

Background:

The current proposal creation requires 10M BITs too high, and no new proposal has been created so far.

Lowering the threshold is conducive to active communities, making it easier for people with ideas to create proposals, and allowing more people to participate in building a BitDao.

Proposal:

According to BitDAO Token Holders, there are very few addresses with a balance higher than 10M, and most of the BIT is in the contract address. So I think the threshold should be 5M or lower.

Options: 10M(no change), 5M, 2M, 1M.

Voting will start on Sep 19, 2021 for 3 days

Snapshot Link

4 Likes

Tips:Your voting power 0 BIT!
I have Bits before Snapshot block:13,248,579.
Why?

BIT holders cannot vote or create proposals until they delegate their voting rights to an address.

I solved this problem through this document

First you need to delegate your voting rights to yourself or others

@byr0n a couple things to consider with this proposal, referring to the Governance Phase One documentation

  1. The Vote Duration needs to be at least 7 days
  2. The Vote Threshold is presently set to 100M BIT or 1% of the total supply

I recommend resubmitting this for discussion within the community, and as many delegates as possible. I can assist with this discussion,

@JE I can’t seem to delete or modify this discussion.

1 Like

There doesn’t seem to be any setting preventing you from modifying/editing it. If you’d like to resubmit the proposal, I can indicate that on this post.

2 Likes