Uniswap’s governance system currently has a high threshold of 10M votes for proposal submission. As mentioned in Dharma’s earlier proposal, there have been discussions on lowering these thresholds to make governance more accessible.
Since that original proposal, nearly twice as many UNI votes have been delegated, so I don’t believe the current quorum threshold of 40M votes is problematic in any way.
However, the UNI token price increase over the past 6 months has made the proposal submission threshold extremely difficult to achieve. I propose that this proposal threshold be lowered. Personally, I’d consider something like 2.5M votes a conservative step in the right direction. But since this is just a temperature check, I’d like to first figure out if there’s support for the idea of lowering the threshold at all.
I’ve created a Snapshot vote to gauge the community’s interest in this idea, which will go live on May 28th at 12pm and be open for 3 days: Snapshot Vote
LOVE this. Lowering the threshold for the formal proposal will hopefully encourage and empower more active participants in governance. The recent activity has been great, so we should really be capturing this momentum and embrace the accessibility of participation similar to how gitcoin does.
The question around quorum I think will become more clear once more proposals come through the pipeline if this passes. Excited to see!
Strongly in favor - 10m votes is a high requirement, even with autonomous proposals and fish.vote making this easier. Lowering the proposal threshold is a great way to create a more active and involved governance process where more users have a voice.
There are probably good arguments to lower the quorum threshold as well, but this is a good first step.
Yeah, I think the proposal threshold moving to 2.5M is a conservative step in the right direction.
Someone pointed out the other day that since Dharma’s first proposal to lower quorum, the number of delegated UNI has more than doubled from 80M to 170M. So reaching quorum isn’t as much of an issue at this point.
However, it’s still extremely difficult to get 10M UNI votes as an individual.
Good point. Delegated UNI is likely to only increase, as the UNI float increases (via liquidity incentives, vesting, etc), and delegation tools improve.
More important now to surface individuals with good ideas that may not otherwise have a voice.
If anyone is interested, the currently live Uniswap Proposal does give admin control of Uniswap to a new smart contract. Since I haven’t seen any discussion about WHAT that smart contract actually contains, I thought I would share. (Spoiler alert: looks fine)
