I would like to start the process to submit a proposal to remove the need to have voted on a proposal in the Last 90 DAYS if there are no active polls to vote on at time of claiming INDY Rewards.
Please discuss below.
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First, is this technically feasible without a rewrite of the current smart contracts? Can anyone from Indigo Labs answer this?
Second what would be the pros and cons.
Con - No incentive’s provided for voting which created a lot of participation.
Pro - This could prevent people from just voting to vote and skewing the results.
With both I have so far there are things that have been discussed in the past like adding an additional “Abstain” option for those just voting to keep the rewards flowing.
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Yes, it makes sense to allow users to withdraw their rewards in such cases, but since this user doesn’t participate in governance… maybe a 10-20% fee would be in order? The fee can be redistributed among all other INDY stakers.
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I like the idea of governance staked INDY (which collects rewards) being locked until a proposal is voted on as it adds credibility to the token actually being used as a governance token and not just another pump and dump token.
That said, it should be clarified in the docs and on the website. I think the current method is good since there have been 7 proposals, ID #14 to ID #20 in the past 90 days which is more than enough for people to vote upon in the specified time range. Definitely needs clarification though.
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No, if you can’t be bothered participating then you will still accrue the $ADA fees passively, the additional $INDY is a reward for participation.
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A change is needed. Maybe a vote every 180 days
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I thought about this too, and if emissions to governance staking were lower I might agree, but after thinking about it there’s quite a bit of INDY being given to folks who vote. 90 days is a reasonably stringent requirement in my view given what they are getting in return.
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I am totally against this proposal (being feasible or not to implement). We already had 20 proposals in total since Indigo’s launch 6 months ago. This is an average of roughly 3 votes polls every month. The idea of the INDY rewards is to incentivize people (INDY holders) to participate in governance at least 4 times per year. You don’t lose anything by not voting.
And just to clarify the confusion you stated, you can claim your INDY rewards regardless there’s an active proposal or not. You have a period of 90 days to claim the rewards even if there are no proposals.
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Your concern was raised regarding claiming rewards, not earning them. You must stake INDY and vote in order to earn rewards. There is no restriction to claiming already-earned rewards.
Giving users 90 days as a rewards parameter/rule to be eligible to earn rewards is very lenient when you consider that the Indigo DAO has completed 20 on-chain proposals in a mere 6 months of being launched. There have been on-chain proposals in every month since Indigo’s launch.
I would suggest being active and participating in Temp Checks so you will be up to speed on proposals that are flowing on-chain once passed the initial governance phases here in the forum.
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I dont mind voting but there needs to always be something for me to vote on. I dont want to wait around for a proposals to show up.
Perhaps if there was always something to vote on or once there are more proposals more often it can go back to being mandatory
can you elaborate why?
there could be concerns for market manipulation around epoch and voting periods. if whales can see certain number of locked indy because of a vote then they will plan accordingly and perhaps make some waves on the token.
i suppose if indy price increases there will be less impact, and in the meantime rewards provide some incentive
So I’m dealing with this now as a new Indi holder. I understand the pros and cons to both sides of this argument. Is there a way that as a new holder who wants to stake their Indi can do so while accumulating ADA and Indi rewards but not be able to claim the Indi rewards until they have voted. That way we are not disincentivizing people who want to join the ecosystem and want to buy/hold the token. They will just have to wait to claim the Indi rewards until a new proposal is available and voted on.
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If you stake your indy right now you are already participating in the profit sharing mechanism (meaning you can receive ADA, but not INDY).
As I said before, there’s been sufficient proposals since Indigo’s launch. Another one should be here soon.
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EDIT: I posted this before reading the rest of the posts where my question was answered. Oops. Mods feel free to delete 
Am I earning indy staking rewards for my staked indy? I have been staked for around 30 days and have some ADA rewards but no indy rewards. Is it because there has been nothing to vote on? Therefore not earning indy rewards? Thanks!
Did you vote in the last proposal? (that ended in July 27th)
If you did not vote in this last proposal then you are eligible to earn only the ADA rewards. But as you can see from other temperature checks, we should have a new on-chain vote soon (integration of vespr wallet). If you want to earn INDY rewards from governance, DO NOT MISS the next proposal.
No, I did not. I was definitely staking indy then though. What would you suggest for someone who does not check indy socials every day to see when a proposal is? I guess I need to probably add Discord?
Thanks for your reply and info!
Just make a habit of checking in here once a week or every other week. It only takes two seconds to see if there are any new discussions or polls going on. I’m literally doing it right now. I hardly follow along in the discord anymore. I just monitor my Indy and periodically swing in here to stay up to date. Also, you are aware the votes happen on-chain in the web app, correct? So even if you are not coming in here, you would still see the open vote in the governance tab.
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Thanks for the info! I will definitely stop by periodically. Not a problem. Thanks again!
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we need to have better way than this 90 day senariooo