Hi, this is Ludo from VoteCoin, AWallet, AramidFinance, DREM, A-DAO…
I read the whole thread quite carefully and my observations and recommendations are following:
Indeed. This is the issue. Actually I believe we should not try to incentivize everyone to make decisions on algorand network, but only those who has time to study it.
The main thing here is to know what is algorand governance going to be used for. As far as I know, the long term vision is to transform the algorand governance to a DAO type governance… In DAOs you need efficient way of decision making. One question once per 3 months is surly not how dao should be managed.
Also I would like to ask the foundation to make the fair rules. Just a simple hint… With VoteCoin token I am creating the DeFi on algorand reality… The 0,01% liquidity providers fees on pact fi for pairs such as Vote/Algo, Vote/USDT, Vote/USDC, Vote/GoBTC makes from the token perfect arbitrage token. We incentivize people to hold tokens in AMM pool with 50% pa vote coin token distribution program so that we can arrange this low fees and making the market efficient. We have not received any support from the foundation for this and I see other tokens to get Aeneas rewards at pact fi which has much higher fees.
I would like to pinpoint also what we have achieved with Vote Coin. Vote Coin was created on this very forum. With no reply from the foundation. I have implemented my simple proposal in summer last year and it won the Encode algorand hackathon. Still no reply from the foundation. Later you have implemented the algorand governance - in similar form - the data is being stored on algo blockchain in note field… Great. However my proposal was already much further… It has implemented the delegation of voting power.
Standard user does not have time to track the questions that DAO asks… So person can delegate his voting power to someone else. We have created a standard from the messages to be stored on the blockchain… I encourage algorand foundation to use the standard to cast questions.
Actually i would like to also pinpoint the issue of security of the voting… New algorand DAO should take strongly into consideration that open voting while duration of the voting session is bad. It reduces the value of a vote of those who vote first because it encourage people who are not satisfied with the current decision to vote. Encrypted voting standard solves this issue and preserves the auditable feature of having the voting data stored on the blockchain.
I agree to the point that the small group of people might decide the things in algorand DAO. We can see it in all algorand governance periods where on the last day some people have staked their positions just to have “final word” in the votings… I dont think this have been exploited, but open voting and open information on who is staking how much does not make this very fair… VoteCoin has implemented solution for this problem…
The same 