[RFC] Treasury Delegation Round 2

[Tane]

Thanks for your comments/feedback @Juanbug @Argonaut @Doo_StableLab @drllau_LexDAO @jengajojo @kpk @Boardroom @Avantgarde.

After our careful examinations of the feedback from the delegates and extensive discussions especially with the UAC members, we have revised the proposal with changes outlined below. We hope most of the critical feedback are addressed.

• The number of delegates for delegations: 12
  • Rationale: 16 is too many compared to 7 in the original program. There are delegates that don’t need VP, and fewer delegates should be qualified for the treasury delegations. We believe 12 is a good middle-ground number.
• The delegation amount: up to 18M UNI
  • Rationale: Reaching quorum is still an issue, but we should minimize the amount increase from 10M.
• Distributions: 1M for all selected delegates, additional 1M for Tier 1 delegates
  • All 12 qualified delegates will be chosen by the objective requirements.
  • Top 6 delegates (“Tier 1 delegates”) will be chosen by voting or only by the objective criteria
  • The maximum total VP limit is 1.5M for non-Tier 1 delegates, 2.5M for Tier 1 delegates
  • Rationale: simplify the amounts to be delegated (but hard limits are introduced) compared to the original program, but prioritize the top delegates for more delegations.
• How to select delegates: based on the objective criteria/metrics/scoring (the DIP Cycle 3 one + VP cut-off)
  • VP cut-off is 1M
  • Utilizing a forum poll to choose how to choose Tier 1 delegates
  • Option 1: Decided by election
  • Option 2: Decided only by the objective criteria
  • Rationale: we should avoid “popularity contest” situation as much as possible and the criteria/metrics/scoring that the DAO utilized for the DIP Cycle 3 delegate selection are good to be reused for this case. The reason that we consider voting on selecting Tier 1 delegates is that we still believe we can capture preferences for delegates to be with more VP delegations by conducting a voting
• Delegation period: 18 months delegations, but 1 year re-selection for all delegates
  • No time-based cohorts anymore
  • Expiration is set to 18 months for delegations, but promised to do re-selection every year for all delegates
  • Rationale: minimizing the operational burdens makes more sense while expirations of the delegations still happen and the DAO needs to go through the re-selection process every year until the treasury delegation is not needed for the governance.
• Other additions
  • Added adherence to the DAO Principles as a requirement for the delegate application
  • Added a disclosure statement that we are willing to apply for this program if approved

We are planning to make final adjustments based on the poll and submit the first Snapshot proposal early next week.

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@Argonaut

Adding proposal requirements would prevent new delegates from participating or force them to submit low-quality proposals just to meet the criteria. We believe strong proposals like this one from Tane require time and effort, making it challenging for new delegates to fulfill this requirement.

We still believe that making proposals is a critical contribution to the DAO and qualified activities for the delegates who are worth receiving the incentives and treasury delegations. Permissionless-ness is a virtue that we promote and admire and any delegates (new or OG) can make proposals and valuable contributions to the DAO.

@Avantgarde

we believe it would be more useful to categorise areas of expertise that the DAO could benefit from having/adding, and tie this “underrepresentation” to that and add delegates accordingly.

This is a very interesting point and something the DAO should consider to design the future delegate related programs!