Governance voting incentives

Summary
Incentivize voting on core proposals by granting Sushi tokens to every voter.

Abstract
Sushiswap is a community-owned and community-managed project. Every voice matters, but the current voting system doesn’t incentivize small Sushi token holders, who can feel insignificant in comparison to the Sushipowah big guns.

As a result, Sushiswap core proposals are voted on by a very limited number of community members (around 50). We’ve gotta pump those numbers up!

But how?

We could start by offering a fixed amount of Sushi tokens (the same for every voter, regardless of their Sushipowah) for every vote. This would be a powerful incentive to get community members to cast their votes and get involved in governance as a whole.

We could set a min. amount of Sushipowah to be eligible for voting rewards as a way to avoid leechers staking a single token just to claim the rewards. (threshold TBD)

The sushi voting reward would be claimed directly by users, and its amount high enough to offset gas prices (amount TBD)

Let’s discuss !

Should we implement voting incentives for core proposals?
  • YES
  • NO

0 voters

2 Likes

Although I am all for finding ways to get smaller token holders involved, I don’t know if this is the right approach.

However, I do think there are ways we can get holders more involved.

One thing off the top of my head is perhaps we could integrate voting on the weekly menu directly into the web app, and each token holder only counts as 1 vote regardless of position size.

7 Likes

I think having a 1 vote per user policy for the weekly sushi menu would be a beneficial change; however formalizing it in smart contract sounds prone to abuse, similar to how pedrowww’s proposal sounds prone to abuse. Something i’ve been thinking about is trying to make use of the sushiswap forum user trust levels in order to limit votes to community members. Additionally, in reference to Pedrowww’s proposal, an implementation of this which would be abuse-proof would simply be to require some sort of screenshot proof of voting coupled with your sushiswap forum trust level requirement. this system is clearly not scalable after a certain point, however if we could even just 2-4x the number of active voters by running a limited time community reward initiative that would be positive. Just some of my thoughts

2 Likes

I think this is a good idea to incentivize people to vote. If we do incentivize individuals with sushi for voting, where would the sushi come from (some community fund)?

I like this better than a reward system which will encourage multiple wallets by the scammers.

Now for the newb question of where do I currently participate in governance? I just checked out the snapshot page but that doesn’t look very active. I’d like to vote early and often, but I feel like maybe I don’t know where to go?

while i am for incentivizing voting, i would first start the roll out for users that have more than a number of poaps, like 5-10, to see how much more that drives participation without necessarily brining in mercenaries

@nickjrishwain glad to see you are jumping in head first.

The snapshot page is best to do so but requires SUSHIPOWA. $SUSHI in the SUSHI-ETH pool is worth 2 SUSHIPOWAH and $SUSHI which is staked is 1:1 SUSHIPOWA.

The snapshot unfortunately has not been too active due to product releases and re-org.

Please holler if you want to chat more about governance.

2 Likes

So do I have to provide liquidity in the Sushi-Eth pool to get SUSHIPOWA? Willing to do so, but just wasn’t sure if that’s how I was missing the ability to vote.

Or held via xSUSHI. For more information, read here: Proposals & Voting - Sushi

1 Like

yes, in addition to Sushi-ETH LP being given voting powah, xSushi, cream xSushi, aave xSushi, bentobox xSushi, and MEOW tokens all grant similar powah.

2 Likes

I might be overcooking it in my head (i do that a bit) - but afaik we’re hoping to add a little more community contribution/voting around MISO and perhaps Shoyu in the future and it could be a good “playground” for some of this?

I have been thinking if there was a way to create “profiles” or similar, for users to be able to be like “I’d like to have more say on MISO launches” or “Art curation” or even “Onsen projects”. I’ve been calling them subDAOs but I’m sure there’s a better term. But they’d be a way to trial more “one person per vote” systems on areas that are a bit more ‘specialist’ - and maybe it could eventually have knock on effects in SushiPowah in a way that doesn’t crazy affect the more besuited money markets “the person with the most capital will make good decisions because they have more capital at risk” voting that’s needed for bigger treasury management type decisions rn.

At it’s most basic, a set of “attend the in person events to collect the 10 POAPs and you can become a MISO Judge” and it 20x’s your SushiPowah just for MISO curation votes.