JUP DAO Quorum Vote

good idea, i think 120m is appropriate

4 Likes

Too many risks associated with this, what happens if a significant amount of tokens get hacked or accidently sent to a burn address?

5 Likes

Looks like 120m is reasonable! Besides we plan to onboard more cats and 80-100m were easily achieved in the last few votes. Send it with haste. :cat2: #J4J

3 Likes

I believe that 40% of the total eligible votes could be a reasonable number, as well as creating a minimum of 50 jup in stake to be able to vote.

3 Likes

As more member onboard into Jup and the community continues to actively engage. It is only natural the quorum treshold is increase. I believe this is an important vote and a reasonable proposal. It also encourages more members to participate by voting on important decisions shaping the DAO’s future.

4 Likes

Totally makes sense, agreed :+1:

3 Likes

Honestly, I don’t understand why a ā€œrelativeā€ quorum should be riskier than an ā€œabsoluteā€ one. To counter, if - for instance - 200 M tokens are hacked or burned, an absolute quorum would paralize the DAO while a relative one would keep the DAO functional

8 Likes

Increasing the quorum for DAO decisions from 60 million to 120 million votes might be a valid proposal, but i think the decision should depend on the context of the DAO’s governance and participation levels. I’m concerning on these 2 important aspects as mentioned below:

  1. Increasing the quorum might cause decision paralysis, where there aren’t enough votes to meet the higher threshold, leaving important decisions unresolved.

  2. While a higher quorum promotes broader participation, it could discourage smaller participants if they feel their votes don’t have much impact in a large pool.

Increasing the quorum might be a good idea. However, it needs to be considered the current voting engagement system and make sure the new threshold is achievable to avoid slowing down the governance.

I would appreciate some clarification and I’m happy to discuss this further.

7 Likes

Think anyone who believes this just needs to go take a look at the voting records. They were all over a 100% that quorum of 60m so if anything, just a proof that the outcome didn’t depend on that 60m.

4 Likes

tbh i dont think this vote is absolutely crucial, however the more the merrier!

Id like to see 10+ votes this qrt so its a start!

8 Likes

It’s largely unimportant until suddenly it becomes crucial. We never know what can happen in the future. Sudden and abrupt legislation, internet outages, real-life events drawing attention away from voting etc.

Having a quorum is the most mundane thing that exists until you suddenly need it. An important safeguard imo.

6 Likes

Love the idea. Let’s bump it to 120 million.

What comes out of this is:

  • Increased (voting) engagement
  • Reduced rewards per voted jup (still think its more important to make key decisions than personal bag)
  • Maybe as well more and better educated community.

Even so it would be nice to add, if we don’t reach 120 million, then that vote not only will not count, there will be no rewards for it - is that good enough of motivation. :smiley:

6 Likes

I wanted to take a moment to thank you for your outstanding proposal. The depth of research and the clarity of your ideas really stood out. Your attention to detail and innovative approach truly reflect your expertise and commitment. I appreciate the effort you put into it and am excited about the potential impact of your suggestions!

(This is a generic ChatGPT message.) :face_with_hand_over_mouth:

8 Likes

Great proposal let’s vote :fire:

5 Likes

Increasing the quorum in the current circumstances is a good idea.

However, a percentage of staked JUP would be a better approach in my humble opinion.

Although seemingly improbable right now, suppose the number of staked JUP falls to 150 millions, then a Quorum of 120 millions would need 80% of staked JUP to cast their vote to enact a proposal, which is too much. Let’s not imagine if the number of staked JUP falls below 120 millions, then the quorum would be impossible to achieve and the DAO would be paralyzed.

Some replies here are suggesting a Quorum of 50%+1 of staked JUP for regular votes, and a Quorum of 67% + 1 for votes impacting the DAO process itself (like this Quorum vote for example). Seems reasonable, althought I am open to any other percentage related Quorum. A single 50% + 1 for all votes is a simpler rule and probably enough.

11 Likes

120 million is easy to achieve if we always hit that 200m votes per vote held, so let’s do that increase the quorum!

5 Likes

Considering the historical data, an increase in the vote which is 120m, looks achievable and a great idea to cater the growth that we have from previous votings to the present. Gonna say yes with this one !

4 Likes

That’s right Lochie, but watch how many will argue that later changes like these, without going through the DAO, were autocratic. I don’t think that’s the case, but if changes keep happening repeatedly in the future, people will start questioning the criteria used to decide the quorum. That’s why it’s important to consider the feedback being provided now, to avoid having to revisit this issue again soon.

5 Likes

Hello fellow J.U.P Catdets !!

When saying that a small number of voters can sway decisions with a smaller quorum, does it mean that the vote-recognition mechanism gives a different weight to votes outside of the quorum ? Are votes within the quorum more impactful ?

I like the idea of a bigger quorum because of the increase in participation, but I do feel also that a % of votes is more important as the JUP Tokens in circulation increase and more people participate in governance (and IMO it also reduces the risk of an absolute token count sway in the case of compromised tokens, which also ties to my question regarding vote ā€œimpactā€ within the quorum or outside of it). It would just be wise to know the percentage of ā€œwhatā€ could be used

5 Likes

I appreciate your comment. What we mean is that in the event of an extraordinary low voter participation for a proposal, a relatively weak minority could decide the outcome of the vote.

Increasing the quorum ensures that a proposal needs a higher voter participation to be considered valid. A higher voter participation also ensures that the result of the vote is more representative of the collective opinion of the DAO.

7 Likes