JUP DAO Quorum Vote

Jupiter DAO
21

This is great!! Lfg!

3 Likes
22

This makes a whole lotta sense. I hope these numbers get revisited from time to time as well. Reason is that the dao keeps growing daily.

So I believe in time we might be needing 200 to 250 million quorum. Good Job!! :boom::heart:

J4J

6 Likes
23

Amen to that.
Yes increase to 120

5 Likes
24

Sounds good. This may prevent any voting manipulation to be made by a small group of whales and it would also protect the votes of the voters having relatively small voting powers. But, I would also love to hear any contrary ideas. J4J!

4 Likes
25

ig it wouldn’t count and it would be revisited

3 Likes
26

The effective fix should indeed be as a % of the total staked JUP at the given time of the vote (as someone else mentioned). This will prevent making constant changes and/ or unnecessary votes as JUP grows.

Now what’s the right percentage?

It honestly depends, but looking at past votes, we’ve almost always had greater than 51% share, even for the votes that weren’t so popular. This is a challenging figure, but it also keeps it true to the vote in question.

6 Likes
27

Good one to get out of the way as we are seeing exponential growth. This should be a vote thought of yearly.

4 Likes
28

Instead of a fixed number, is it possible to use a percentage of staked JUP so we don’t have to adjust this again? For example: 50% of stake when the vote goes live.

6 Likes
29

I like this and I think 120 million is easy to achieve, since the last votes had much more than this

4 Likes
30

After ASR rewards, people will not forget to vote… We will never go under 300 million votes ever again I’m pretty sure.

You can already prepare the proposal for January to increase that quorum to 240 million votes :rocket:

5 Likes
31

it does indeed make sense to increase the threshold with the growth of the DAO, all for it

sinds the average vote over the last quarter was 276,177,409.25; the suggested increase to a quorum of 120 M would be around 43%

for the future maybe we could do a quorum change each quarter based on 50% of last quarters average

4 Likes
32

Since the DAO is growing, I guess we need 120million votes. But why 120, why not 100m? 100m is round up. Is there any specific reason to x2?

3 Likes
33

Its a very fine idea. We definitely need to increase the threshold

4 Likes
34

Looks like a yes from me, I agree that we should revisit this topic quarterly

3 Likes
35

Perhaps the vote should be, 120,000,000 jup OR a percent of staked jup

3 Likes
36

Great Proposal…!!
We should review this every quarter or once in 6 Months or so.

LFG J.U.P!!

3 Likes
37

Good proposal. I’m in. J4J

3 Likes
38

Great idea! I would suggest that the quorum be set at a minimum of one-third of the total available voting power at the time of each vote. For instance, if we currently have 422.2 million JUP votes and around 604k unique addresses, and we were to vote on something like Jupuary, the quorum should be about one-third of that total voting power. This way, fluctuations in voting power, whether it increases or decreases, won’t affect the quorum, as it will always be based on the current total. Setting a fixed number would require constant adjustments, and significant changes in voting power over time could complicate things. I agree with the need for an increase but believe it would be more efficient to implement it as a percentage of voting power at the time of each vote.

6 Likes
39

Yes to me this makes sense, as more and more up enters the circulating supply and everyone’s holdings increase, a higher requirement for a quorum seems logical to increase in line with that. Great suggestion

2 Likes
40

Does this imply that some people feel the votes were unfair due to the quorum being low at 60m? IMO, it’s not, but increasing it doesn’t hurt anything so might as well just do it. All votes have been chosen properly by majority IMO, might be dominated by the wealthy few but we all agree to the result after all. Has been good hits back-to-back by the DAO.

2 Likes