Demographics of PolyCub Governance Vote #1
The freedom to vote on your future - anyone opposed? The long-anticipated opportunity to vote on decisions made in the LeoFinance community has arrived.
The governance mechanism discussed in the last couple of LeoFinance AMAs went live last Wednesday and the first ever vote just concluded:
Do you want to
Change the Claim Penalty Window?
Change the Claim Penalty Window?
Currently set at 90 days, voters were given 3 choices:
- Reduce to 15 Days
- Reduce to 30 Days
- Maintain at 90 Days
Summary
Well, it wasn't even close ...
In a "landslide," the "penalty" time for claiming PolyCub rewards has been reduced from 90 days to 30 days.
This vote was stake-weighted, i.e. it is not simply "one man, one vote." The vote winner is determined by the amount of stake in xPolyCub, not by the vote count. That said ...
30 Days Won!
By both Vote Count and Stake!!
By both Vote Count and Stake!!
Some "fun" little tidbits of this 1st governance vote on PolyCub:
- Two votes had no stake in xPolyCub! Guess they "didn't get the memo?" 🤷♂️
- One vote was an error. FWIW, it was for the "winner" - 30 days ...
- One vote was "late" and was not included. It just so happened to be from the 2nd largest stakeholder. 😏 And also for the "winner" - 30 days ...
Demographic Detail
On our Hive blockchain, we are all familiar with the "fishes" approach to demographics, e.g. dolphins, orcas, whales, etc. Maybe someone will want to breakout these numbers out that way some day.
I broke out the vote based simply on the % of stake held in xPolyCub. On that basis, here is how the vote went:
I know it is a little small (definitely so on a phone ... 🤷♂️) but hopefully the vote breakout will be of some interest to those who like detail. As an unapologetic "numbers guy," I obviously like detail ... 🙂
So ... What stands out?
- While only ~ 15% of the stakeholders voted, ~ 44% of the xPolyCub stake did, so ... What constitutes a vote quorum? Seems like a pretty good turnout, I guess, for the first time out ...
Maybe a "shiny, new" UI to handle governance voting will help? - The participation of the "whales" was definitely a surprise to me, as it was "lighter" than I expected, given how much they have "on the line" ...
Closing
All things considered, I think this first vote went pretty well. I have heard about the idea of governance voting in our LeoFinance community for months and months. Interesting to me was the fact it first took place on PolyCub.
When in the "sooniverse" will we see it on Cub Finance? In the LeoFinance community itself? You'll have to consult the "Khalender," as I have no idea ... 🙂
To "execute" on this vote, based on what Khal said in last week's AMA, the PolyCub contract may have already been changed. Or will shortly, to set the 24-hour clock for changes in motion. Will this change be operational by sometime tomorrow?
I'm sure we'll get an update on that in tomorrow's AMA.
I’d love to hear any feedback you may be inspired to provide.
Until "next time," all the best to you for a better tomorrow, as we all work together to build up our Hive Communities and add increasing value to our Hive blockchain! 👍 😊
Respectfully,
Blogger @roleerob
Hive "Dolphin" 🐬, LeoFinance "Whale" 🐋, & Man Cave "Dragon" 🐉
🐝 🍯 🐝
P.S. I am not a financial adviser. Please consider this post as financial information and / or opinion only. Please perform your own due diligence, in whatever manner seems best to you, if you have found it to be beneficial.
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Posted Using LeoFinance Beta
I think that is still a decent amount of people voting and I also voted for 30 days. I just didn't think 90 days would work out and 15 days seems like it might be too short.
Posted Using LeoFinance Beta
I guess it depends on one's perspective. Voting participation levels like that here in America are considered low ...
That said, we are obviously talking about neither America or voting for someone in power over you, so ... On a blockchain? About how a DeFi platform should work? Maybe it is just wonderful ... 😏😉🤷♂️
My biggest pleasant surprise was that both the vote count, as well as the vote stake, lined up behind the winner - 30 days. 👍
Posted Using LeoFinance Beta
Considering there wasn't even a link in the PolyCUB interface, I think people might have tried to find the information and failed. Maybe it will be better when there is a UI for it
Posted Using LeoFinance Beta
Yes, good point. If we just consider this a "trial run," then we'll find out together what the participation levels are, on future votes, once there is a proper UI to handle them.
Posted Using LeoFinance Beta
Polycub 1st vote is a good turnout. I also voted for the 30 days, I think that's more balanced !
Yes, that seems to be the consensus on the "sweet spot" in how long to "lock" up our rewards!
Posted Using LeoFinance Beta
Dear @roleerob, Did you vote for the xPolyCub community? Why did you vote? Does your voting increase your stake in the xPolyCub community?
Do only people who have joined the xPolyCub community have the right to vote?
There is no voting on this. Your stake increases simply by investing PolyCub into it. In other words, you are "staking" your PolyCub => xPolyCub ...
Well, anyone can vote (like 2 did, wasting their MATIC doing so), but ... In this 1st PolyCub governance vote, yes, you must be a stakeholder to have your vote count.
Posted Using LeoFinance Beta
Thank you for kind answer!
I hope you won't be disappointed if I don't 100% understand your excellent explanation.😅
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