Hello,
It has been 5 epochs since we have been able to vote on something. New stakers to the protocol are being robbed of Indy rewards. I say we vote to let new stakers start earning Indy rewards. I submit this proposal to let new stakers start earning Indy.
If I am not mistaken, the last day to vote in our most recent proposal was 21 days ago (4 full epochs). The INDY from the governance, in my opinion, is a way to incentivize people to participate in the discussion/direction of the Indigo protocol. There is no one being “robbed” because the DAO is working as we agreed (voting every 90 days allow you to receive INDY from governance). Therefore, we are still following the rules within the Indigo paper we ratified. This agreement hasn’t been broken.
I understand your frustration of not being able to vote anytime and not being eligible to receive extra INDY. But, the goal of creating and voting into a proposal is to strengthen the protocol. In that sense, we had 6 proposals to vote in the last 90 days. Even if you don’t follow the discussion that close, there were plenty of opportunities in the last 3 months. I am sure another one will be here soon enough.
This is some pretty silly language. Have some patience!
Well said Borges, good information you provided and much appreciated. It’s good to see some new INDY users either way.
How about a 2 tier APR for Governance? If you voted in the last 90 days you get 100% of the APR. If you have not voted in the last 90 days you get 25% of the APR (my #'s are for illustration only). Make it clear in the UI which % they getting and why.
Please be respectful. We’re simply a community of diverse backgrounds expressing ideas. This platform allows small guys like myself to express an idea even if it’s bad. Perhaps the diction could be improved. It’s okay to suggest a better way to word it or criticize the idea. Constructive criticism is how we succeed.
I understand the perspective shared by @cryptoman, and also felt the reply by @borges047 was accurate.
While more rewards faster sounds great to all, I would caution against modifying the planned rewards mechanisms based on such a short period of time.
In the initial statement, @cryptoman acknowledges the motivation of the change is based on distributing rewards to users faster. This may be a good way to tank the project price (see LQ).
But why creating 2 tiers? There are 2 tiers already, one that voted and one who didn’t vote in the last 90 days. The way I see this proposal is that you are asking for free INDY and that is a hard no for me (but this is only my opinion).
Staking in Governance removes Indy from the market - that’s providing a service for the token. Voting provides another service. Where else offers 0% return for staking?
You know you can stake INDY right now and start participating in the profit sharing mechanism, right? (earning ADA)
Therefore, your argument of “0% return” is false and misleading.
These kind of arguments are similar to the ones that appeared when INDY price was tanking (and some people were asking for lowering emission, lowering rewards, etc). But now people realized how good this project is and they want a bigger share. The recipe to solve this problem stay the same as before, you just need to wait.
Indigo was launched in November 21st 2022 (33 weeks ago). We already had 21 proposals. Almost 1 proposal every 2 weeks in average. Just wait a bit more and you can be sure there will be a proposal soon to vote for you to start earning INDY from governance.
you are correct. ADA is earned without voting - so “0% return” was an error. it takes voting to earn the INDY rewards. i stand corrected and now agree with how governance is rewarded. Thanks for the dialog.
Thanks for the proposal but I will not support it as it lacks a substantial justification for change.