Financially Incentivizing voting/voting delegation

Hi All,

I believe it is a good idea to financially incentivize voting/voting delegation with COMP token or DAI.

Reasons:

  1. Decreasing voter apathy and increasing voter turn-out/voting power delegation.
  • 1.a). Help cover the gas fee incurred in voting/voting delegation.

  • 1.b). Give more value back to supporters who at least bother to delegate his/her voting power.

  • 1.c). Personal experience: I am a small comp holder, I don’t vote/delegate my votes as i was discouraged by the gas cost.

  1. (Because of 1) Making quorum easier to reach, and making it possible to increase the voting quorum in the future.
  • In a separate idea post, @lay2000lbs proposed that proposal threshold should be lowered. (LINK HERE) I replied in that post that (MY REPLY) we can have a tiered system, the lower COMP one holds in making a proposal, the higher the quorum is needed for that proposal to pass.
4 Likes

I have made a community for small comp holders (it actually doesn’t matter if you are small comp holder) and it works as so: you delegate to me, and you get invited to a discord, which every proposal there is a little poll that you react thumbs up or thumbs down, and that controls however many votes I have, so if the votes on my discord is 5-5 and you have delegated 0.000001comp, you can still change the sides my 5k votes go to. even if you are delegating 10000comp or 0.0001 comp, you can still change the direction of 5k votes. DM me on discord (TennisBowling#7174, yellow name in compound discord) to know more

Now as for my views on this…

I believe that the required votes to make a proposal should be 10k, and maybe the comp emissions that have been reduced could be swapped to eth via paraswap or uniswap, and cover the gas cost of maybe everyone that votes and has under 100 comp (above are the big rich bois anyways). maybe 100 is too high, because we can’t repay everyone’s gas fees. Let me know what you think

2 Likes

I’d be supportive of $COMP emission going towards voters! (vesting 1 year)

4 Likes

thats smart. but then will we need to figure out what to do with the rest of the 3 years?

First off, I plan on building out a system that allows for all users to vote for free. This will come eventually.

Beyond the cost of voting, I agree that participants of governance should receive a large portion of the COMP emissions. This is mostly agreed upon by the community: the larger question is how it should be implemented.

There are three features which I would like to be able to use simultaneously with my COMP:

  1. Delegate
  2. Receive vested rewards for participating in Governance
  3. Use it as collateral

The combination of these three would be very hard implementation wise but I think it would be incredible. As we all know, the opportunity cost of idle assets in DeFi is very high right now and the ability to borrow on your delegated COMP would be very useful. I can’t say off the top of my head if implementation wise it’d be practical though.

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Could be meta-transactions that actually pays users to sign the transaction?

I am not entirely sure about whether it is too early in $COMP’s lifecycle to enable it as a collateral. I wonder if the price discovery for $COMP has completed yet.

still need to think of a more compelling argument. I am against this more because of my intuition.

but I agree with you that having gas-free voting is great.