Proposal for Phase 2 of [RR2]

In a previous forum post, we proposed various changes to make changes to the RARI reward structure (see https://gov.rarible.com/t/rr-2-draft-rarible-dao-structure-community-treasury-staking-for-voting-power/981 41 ).

The proposed plan is to break up RR2 into two further proposals:

  • a proposal to activate delegation, and spam prevention mechanisms (quorum, minimum number of $RARI required to submit a proposal)
  • a proposal to approve the staking contract mechanics and rewards

This proposal is the first of these two proposals and aims to do the following:

  1. Add quorum to Snapshot to make it slightly harder to pass proposals. Right now, there is a concern that it is too easy to pass proposals, and this would help require proposers to advocate for their proposal in order for them to pass. Proposed quorum: 0.5% of total token supply (this is very low, namely because we historically have not had large tokenholders participate… thoughts?)
  2. Require a minimum number of $RARI tokens in order to submit a proposal. This is to help reduce the amount of spam (right now, there is a lot on Snapshot). It should also allow us to cease being the gatekeeper for proposals. If you don’t have the minimum amount, you can just ask someone else to post for you. Proposed minimum: 100 RARI
  3. Enable delegation of votes

On the staking contract side, we have been re-visiting the approach and will give an update soon. The option being considered is more analogous to a vesting contract, which could be useful for the various engagements Rarible DAO might have, while also allowing people to lock tokens for voting power and get rewarded for governing.

We will bring this up in the community call this week, and put it up for vote. Please leave comments or concerns below!

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NOTE:

We will be implementing 2. in the proposal above shortly.

  1. and 3. will be implemented once staking has been enabled.

-Eric