The true definition of a DAO is not about creating value through airdrops and establishing criteria that harm stakeholders, whether large or small.
Many DAOs misunderstand this, leading their models to operate like traditional companies, quickly fading into obscurity as people abandon them. I understand that the gift from WCT is not substantial and cannot be distributed to everyone, i agree with that.
In real-world Web2 companies, we’ve endured significant class discrimination. The lower tiers have no voice in company events, such as preferential stock purchase rights (ESOP), bonus shares, subsidies, or undisclosed bonuses. Power and benefits are held by major shareholders, angel investors,..This has caused numerous conflicts with individual investors, both large & small-investors, including newcomers and veterans alike. Watching them fight each other for personal gain makes me sick.
This is one of the reasons we are all here at JupDAO. Once again, traditional companies and DAOs are fundamentally different.
If you want truly exclusive benefits, join a conventional crypto company and become a whale with all the perks. But if you choose JupDAO, see yourself as equal to others, regardless of your status, holding the same voting power as everyone else.
The benefits of DAOs far surpass those of traditional companies because this is a network connecting people worldwide. If we tap into the community, we must accept sharing benefits with the community or let the community decide, regardless of the outcome.
Below, I will present 2 proposals. The first one is somewhat similar to Kash but not quite, it’s a bit different. Kash wants Delegates to hold a large-position, but I don’t think that’s necessary.
Proposal 1: Voting Delegation Mechanism
Imagine that the true power of a single vote is entrusted to influential individuals, whom I’ll temporarily call Delegates.
The Jupiter Governance platform will be upgraded with an interface featuring a smart-contract that allows JupStakers to delegate their vote-powers to others, upgraded include a monthly Delegate-voting tab. You can also vote directly without delegating, as it’s simply an option.
The smart contract will delegate vote-powers without requiring the transfer of $JUP tokens to them.
To become a Delegate, you must first stake $JUP for one year. During that time, you need to hold the Catdet role and maintain it continuously for six months to qualify for the Delegate role on the Discord platform.
This way, we will prevent whales or external organizations from brazenly entering and becoming Delegates anonymously.
The JupDAO team will broadcast the Delegate-voting event for one week, allowing Delegates to conduct large-scale campaigns on social media platforms to attract votes for themselves. It doesn’t matter whether you hold a small or large position, we only care about the value you bring to the DAO.
That’s true democracy - no sponsorships, no interest groups, no deals with terms that favor anyone.
You can revoke the delegation within 6 hours before the voting period if you feel uneasy about the person you delegated to.
(Delegation cannot be revoked during the voting period)
All delegated voters will have their ASR rewards calculated as valid.
Delegates will need to campaign by organizing talk-shows, meetups, rallies,… and more to convince people to delegate their votes to them. This will create a lively atmosphere on social media platforms, making people view JUP as a legitimate organization and feel excited when their voices as voters matter.
It’s wonderful when every vote is valued and entrusted to the right person, bot-wallets will no longer be overly significant when we genuinely want to support someone. People won’t have to fear forgetting to vote anymore. All you need to do is delegate to the right person or choose the best outcome yourself.
So, what are the benefits of becoming a Delegate? It’s a portion of the allocation from “Good Cat”, reserved for those who secure the longest possible tenure.
“Will this make JupDAO more divided?”
No, where there’s a community, there will always be opposing groups. What we should focus on is the overall development of the DAO, not the interests of a minority group
“You can find people who like you, but you can’t make many people stop hating you”.
I don’t believe everyone in the DAO, including myself, is inherently good. We must follow the majority, as this is a DAO with a peer-to-peer system weighted by stake.
“You have 1,000,000 $JUP?"
No problem, I have 10 friends with 200,000 $JUP each. That way, we’ll defeat you in the vote. That’s what will happen if i gather enough votes.
If you want more “whales” on your side, you’ll need to take action or find new whales. I think it’ll be quite challenging…
If there are any errors or additional points to include, please provide feedback below.
Proposal 2: Option-based Airdrops
First, let’s clarify: We are a DAO, right?
So why should JupDAO grant full authority over the $WCT airdrop allocation when we could simply provide them with a straightforward list of airdrop recipients? If they refuse to negotiate, we’re done.
Here’s a specific example:
Suppose that in one year, Jupiter receives airdrops from four different projects (excluding Jupuary).
In a quarter, we have 4 voting sessions. So, for every 8 consecutive voting sessions (2 quarters), we will earn 1 token, tentatively called $JupAir, which will be recorded on the Jupiter Governance website.
JupDAO could consider adjusting the figures above to make everything as reasonable as possible
New-holders, Old-holders and OGs will need to stake and vote continuously for six months to receive $JupAir. If there’s any difference here. I think OGs should receive a little extra in Jupuary.
During the airdrop event, participants only know which project is airdropping and have no information on how much will be allocated to Jupholders. At that time, everyone can use their $JupAir to register for an airdrop slot, without any guaranteed information.
It could be “dust” if too many people register, or it could be “generation-wealth” if few people register.
Airdrops will be calculated based on the weight of $Jupstaked that participants hold (unstaked amounts won’t qualify). This will prevent large-wallets from splitting funds to farm $JupAir.
This system will also eliminate the advantage of team members with insider information about whether an airdrop allocation is large or small. They’ll never be able to control the number of registrants because the process is random.
Implementing this flexible mechanism allows both OGs and new-holders to feel they control their own fate in each airdrop. They’ll be content whether they receive “dust” or a “generation-wealth”, depending on their choices in subsequent airdrop rounds. Of course, no one will complain anymore because it’s their own choice.
I truly don’t want to see another crazy airdrop that divides this wonderful community. After all, JupDAO should consider this proposal. And if there are any questions, feel free to leave feedback below.
Thanks for reading!