Employment of twt from staking and farming pools in governance votings

Here is another idea on usage of twt in governance:

Reason: A lot of twt are locked in liquidity pools.

Realization: To avoid manipulations only for pools with >=$1 mln TVL and liquidity pair must be with well known and respectful tokens, as bnb/busd/btcb/beth. LP token is a subject for snapshots, same as we have currently. So we have 3 snapshots: at the Start, at the moment of Vote, at the End of the voting, and LP providers will have a voting power lesser than from these 3 snaps. Moreover, some relatively sudden voting announcements leave a lot of people outside of this activity, as there is either no notice, or the notice is too short. Such timing issues cut off a significant chunk of users from expressing their opinion. A similar mechanism is implemented on Yieldwatch, which can be used as an example.

Benefit: as Defi users are motivated and often advanced crypto users, this step will encourage them to participate in governance, and will provide a fair tool for them to vote, without risks to their LP activity.

References and useful links: Venus Protocol Doc
Paywall is live! Access PRO holding $WATCH | by yieldwatch.net | Medium

What you all guys think about it?


If we consider to involve LP tokens in a process of gathering people to turn an appeal into a proposal (see my previous post), in this case we should make 4 snapshots (in the moment of posting an appeal, in the moment of transformation of the appeal to a proposal, in the middle of voting, at the end of voting). LP tokens should be allowed to participate only for the voting on the proposal. So, the addresses without twt (deposited on the wallet, or in a LP) at the moment of the first snapshot won’t participate in the whole process.

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Reason: Now it’s unclear how the Team should react to the community’s proposals. Do they find them useful, workable, or perspective on any level? For example, the proposal on TWNS is still remaining with no answers from the Team.

Realization: When the community proposal hits all the important factors for being reviewed by the Team, the Team is obligated to respond within 30 days. This may be a response in no particular form on the TW site, but with concrete valuation and opinion on it.

Benefit: Such accountability will encourage a clearer and honest discussion between all parties. Receiving the feedback from the Team will help all the parties involved to better understand each other and improve anticipations.

References and useful links: https://forum.cream.finance/