Increase the DAO voting duration

Proposals
1

With Lido protocol rapidly growing, launching referral program and LEGO, partnering with new node operators and other DeFi protocols, LDO holders have grown tired of governance. Even the newly invented Omnibus votings often struggle to reach the quorum within 24 hours voting time.

Although we expect the upcoming Easy Track feature to remove part of routine operations from the DAO votings, we believe there’s another thing to be done in order to optimize the Lido DAO governance.

We propose increasing the Aragon voting duration to 72 hours.
This would allow more LDO token holders to participate in voting, which results in a more meaningful voting outcome and potentially make reaching the quorum easier.

Another important voting parameter is the minimum approval threshold, currently set at 5%. The community should consider raising the approval threshold while Lido keeps spreading the LDO supply following the DAO treasury diversification strategy.
What do you think should be the proper approval threshold, given we increase the voting duration?

8 Likes
2

Couple details:

  1. Easytracks, while designed to take most of the operational actions off the Aragon votes, would still require periodic actions made with Aragon Agent (at least, currently);
  2. Getting longer timeframe for the Aragon votes should help with getting quorum there, so sounds like a very good idea;
  3. As for the quorum threshold, I’m for the change to higher number as to make government more secure. But, given the current participation and how hard it is to get quorum on 5%, I’m not sure I can propose any specific number
4 Likes
3

Easy Track is live, and the first motion have already passed! After the initial setup for most of the operational stuff is done, we’ll be looking into increasing the voting duration. I hope we’ll have enough data & insight to carry the change on somewhere mid-January 2022.

4 Likes
4

Another thing to discuss on forum first, does 8% sound good for Aragon vote quorum?

3 Likes
5

For aragon / on-chain voting this makes sense 72 hours with 8% threshold.

2 Likes
6

I’d start with increasing the vote length and then decide if that allows us to increase the threshold.

7

+1 to increasing the duration first

2 Likes
8

The snapshot on increasing the time-frame has passed: Snapshot

1 Like