Hi all - would love to hear any further thoughts on this proposal. I think it’s essential to reaching the 50k quorum on a regular basis. I’ve modified it so that proposals can go up at any time, so long as users are provided adequate notice (defined as 24 hours in my proposal).
Shoutout to those who helped formalize this in the discussion @Phelpsgg, @Skot, @mvellank, @smallz and any others I missed. - Grand
With an increasing interest in governance participation (good thing!) and in anticipation of an acceleration of votes for platform upgrades and creators, we have had a discussion on the needs to provide fair notice to $RLY holders so that they may choose to participate in votes that they find meaningful.
Goal: Twofold. 1. Give every $RLY holder voting rights in proportion to the $RLY holdings. 2. Provide fair notice to $RLY holders of current/impending Proposals.
Summary: We recognize that there is currently a technological barrier to providing $RLY holders their full voting rights, as the protocol has been designed to incentivize staking of $RLY and does not allow staked $RLY to participate in the voting snapshot. This proposal is designed to empower $RLY holders to choose both “if and how much” $RLY they want to prepare in order to exercise their rights to participate in platform governance.
In the interim, we propose:
1. A commitment to provide $RLY holders a 24 hour notice of all proposal summaries and snapshots.
2. A 24 hour window for $RLY holders to place their vote.
Implementation: We understand there are technical implementation challenges to overcome here, and will defer to the Rally team on deciding the most practical path to provide 24 hour notice of impending snapshot together with the proposal summary. In practice this means a minimum 48 hour window for users to be aware of a proposal, and a 24 hour window to vote. Again, deferring to rally team on “source of truth” for the proposal summary and notice location: here on the forums, in the discord channel or the snapshot proposal pages.
Additional thoughts for discussion: It’d be great if the snapshot wasn’t at 2 am or some such thing, perhaps we can set a “standard time”, a window for snapshots that falls between 10-2 PST for example. Also, I could see advantages to a longer lead-time for platform upgrades vs. creators, though even for both a 48 hour window allows users more time to explore the creator content or the proposal idea in order to make up their mind.
Goal is also to give Rally team broad latitude to implement this in a practical way for them, so long as the 2 proposal points are upheld.