1. Two Quorums: 1 Global (for the Voting Session) = 50% and 1 Project (for every Proposal) = 33%. If the total stake of voters is > 50% the Voting Session is considered valid and we can proceed to fund distribution, otherwise an irrelevant fraction of xGov could decide for the majority, thus spoiling the concept of representation, therefore we declare the Voting session invalid. The Project quorum will be introduced later, in the Reserve List creation.
2. Switch from
Voting Power Needed = (Amount Requested) / (Amount Available) * (Total Number Of Algo In Term Pools)
to the following:
Voting Power Needed = (Amount Requested) / (Amount Available) * (Total Number Of Algo who Voted)
3. Create a list of Winners and a Reserve List: the Winners are those projects which managed to collect the needed votes (as in the present iteration). This mechanism ensures that for the Winners there are for sure sufficient funds. If all the funds (2M Algo in the previous case) are distributed (very unrealistic case) to the winners, the algorithm stops here. If there are funds left to be distributed, a Reserve list is build by ranking by “percentage of success” the proposals that managed to obtain at least 33% (Project Quorum) of the required voting power (see the above formula). The available funds are distributed until exhaustion to the sorted Reserve List.
I would encourage @SilentRhetoric and @scholtz to continue here the fruitful conversation we already started in Twitter Space. I also let @StephaneBarroso explain the proposal on how to limit the number of proposal in order to have an efficient voting session. Here it is the spreadsheet prepared by @StephaneBarroso to simulate the impact of the new voting mechanism on the last Voting Session, so you can play with data: