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bitshares / bsips

BitShares Improvement Proposals and Protocols. These technical documents describe the process of updating and improving the BitShares blockchain and technical ecosystem.
https://bitshares.github.io
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New BSIP: Consumable Voting Power #266

Open abitmore opened 4 years ago

abitmore commented 4 years ago

With the current voting mechanism, the majority of core token holders decide everything, voices from small holders are usually buried.

Here comes an idea proposed by Fuzzy in Telegram:

... let people ... earn votes over time. when votes are used they are burned and the more votes are used on any single proposal, the less weight each has.

I replied:

Interesting. If you used your votes on something, other people get to use their votes on something else. Thus a major stakeholder can not rule everything.

shulthz commented 4 years ago

Don't agree.

Who want a bigger voice, to buy more bts. This is same to POW, who want a bigger voice, he must have enough hash.

dls-cipher commented 4 years ago

With the current voting mechanism, the majority of core token holders decide everything, voices from small holders are usually buried.

Here comes an idea proposed by Fuzzy in Telegram:

... let people ... earn votes over time. when votes are used they are burned and the more votes are used on any single proposal, the less weight each has.

I replied:

Interesting. If you used your votes on something, other people get to use their votes on something else. Thus a major stakeholder can not rule everything.

@abitmore - would you be interested to help me write an actual BSIP for this ?

Chee®s

abitmore commented 4 years ago

@dls-cipher the design is not clear so far. Missing a lot of details. Also not a priority IMHO. So no.

shulthz commented 4 years ago

let people ... earn votes over time. when votes are used they are burned and the more votes are used on any single proposal, the less weight each has.

This is more like coindays, but the big voter still will have more votes over time, the small holders still have less voice, unless the small holders didn't vote something in a long time. and this will be very waste time to make a decision as the earn votes over time may be very long.

The small hodlers only can express their decision on the thresthold, this is the only way and reality, not yes/no proposals, so the design of thresthold is very important.

So

  1. Design a voting vesting system, people will get full votes power when he lockes his bts in this vesting system;

  2. If people wants unlock his bts from the vesting system he will get 7 or more less days vesting time, the vote power will be the rest amount of bts in vesting system, the bts in vesting time didn't have the vote power;

  3. Every vote operation will burn the 10% MAX COIN DAYS EARNED; If the hodlers didn't get enough coin days, he can't vote. MAX COIN DAYS EARNED=30 days.

  4. The 1 bts not lock in vesting system will only have (the total vote in vesting system/the total liquidity of bts) vote power;

  5. For encouraging the vesting system vote, maybe need bonus.