With the recent events in Wonderland, after the “Sifu Gate”, an important govenance issue came to light: unfair voting power in the DAO.
The proposal of winding down Wonderland was the evidence of that.
In this specific event the the NO won with 55.11% of the votes vs. 44.89% for the YES (NO/YES % RATIO 1,267:1).
But as demonstrated by @0xVonBismarck 16k people voted NO vs only 3k voted YES (NO/YES RATIO 5.333:1), not reflecting the true willingness of the frogs in a balanced way.
It seems fair that, as Daniele stated, those who invested 10M$ must have a bigger decisional weight compared the one who invested 100$. This because the amount of capital invested is crucial to the project.
On the other side holding the tokens long-term provides stability to the project, therefore being a crucial resource too.
The following proposal aims to calculate the weight of each frog in the DAO differently from how it is done today, with the introduction of the “FROG” INDEX.
The index aims to take into account not only the amount of tokens held in the wallet but also how long those tokens have been held, by putting in the calculation a coefficient directly proportional to the days the tokens have been held.
"FROG" INDEX = WALLET SIZE * HOLDING PERIOD COEFFICIENT (i.e. DAYS).
Let’s make an example:
A whale buys 1000 TIME tokens and holds for 7 days → FROG INDEX = 7000
A LONG-TERM investor has been holding 10 TIME tokens for 70dd → frog index = 700
With no “frog index” (as it is now) the power ratio of the two actor is 100:1
With the new “frog” index the power ratio of the two actor would be 10:1
The ratio still favours capital but also takes into account long-term investors, recognizing the value they provide, in term of stability, to the ecosystem.
Let’s discuss the implementation of this proposal and the calculation of the frog index together, to makes things more fair for all frogs.
Sharing on the discord is highly appreciated .
- I WANT THE FROG INDEX IMPLEMENTED
- LEAVE IT AS IT IS