Currently, if my understanding is correct, any UNI token holder can vote. This is very inclusive but it may also be more prone to attack. What can block someone to borrow a lot of UNI to vote and then repay those coins right after?
To solve this problem, I propose to only allows time-locked tokens to vote (Approach inspired by the CurveDAO). Tokens have to be locked x week (months?) to have the right to vote. In addition, to incentivize locking, we could give to those tokens more revenue from the trading fee (maybe all).
Advantages of such approach is numerous:
- No more easy attack on the governance
- Voters have stronger incentives to have a long-term healthy vision for the protocol. (skin in the game)
- Less noise
- Voters take more risks (time-lock) but get more reward from the protocol’ success
- Less inclusive