[CIP] Abolishing Delegation of Voting Power

Proposals
#1

Objective

Eliminate the practice of delegating voting power within the Conic DAO to ensure a more decentralized and democratic governance structure.

Background

Delegation of voting power allows members to transfer their voting rights to another member, often to streamline decision-making processes. However, in the context of Conic DAO, this practice has led to significant centralization of power. Currently, the developer holds delegated voting rights from several members, giving them overwhelming influence over the DAO’s decisions. This concentration of power contradicts the fundamental principles of decentralization and democratic participation that DAOs are meant to embody.

Issues with Delegation

  1. Centralized Control:

    • The developer’s accumulation of delegated voting power effectively centralizes control, undermining the decentralized nature of the DAO.
    • With enough delegated votes, the developer can single-handedly determine the outcome of most proposals, sidelining the broader community.

  2. Conflict of Interest:

    • The developer, with such significant influence, may prioritize personal or specific interests over the collective good of the community.
    • This conflict of interest can lead to decisions that are not aligned with the community’s best interests.

  3. Reduced Member Participation:

    • Delegation discourages active participation from community members who delegate their votes, leading to disengagement and apathy.
    • A vibrant and dynamic DAO relies on active participation from its members to thrive and innovate.

  4. Transparency Concerns:

    • The concentration of delegated power can lead to less transparency in the decision-making process, as fewer voices are effectively heard.
    • Decisions made by a small, centralized group can erode trust within the community.

Proposal

Abolish the Delegation of Voting Power

To address these issues and promote a more decentralized and democratic governance structure, we propose the complete abolition of the delegation of voting power within the Conic DAO.

Benefits of Abolishing Delegation

  1. Enhanced Decentralization:

    • Removing delegation will ensure that no single member, including the developer, can amass excessive influence over the DAO’s decisions.
    • This change will distribute voting power more evenly among all members, promoting a truly decentralized governance model.

  2. Increased Member Participation:

    • Without the option to delegate, members will be encouraged to participate more actively in the decision-making process.
    • Greater participation will lead to more diverse perspectives and more robust discussions, benefiting the DAO as a whole.

  3. Improved Transparency and Trust:

    • Decisions will reflect the collective will of the community rather than the preferences of a centralized few.
    • Transparency will be enhanced as more members engage directly with proposals and voting processes.

  4. Alignment with DAO Principles:

    • Abolishing delegation aligns with the core principles of DAOs: decentralization, autonomy, and democratic participation.
    • This change will strengthen the integrity and sustainability of the Conic DAO.

Implementation Steps

  1. Community Vote with Special Mechanism:

    • Conduct a community vote to decide on the abolition of the delegation of voting power.
    • Implement a special voting mechanism for this vote where each address can only use 1 vote. This ensures that the decision is truly decentralized and not dominated by any single entity.

  2. Why Special Voting Mechanism is Important:

    • True Representation: By limiting each address to 1 vote, we ensure that the decision reflects the will of the entire community, not just those with the most voting power.
    • Preventing Dominance: This mechanism prevents the developer or any other single entity from using their delegated power to sway the vote in their favor.
    • Equal Voice: It gives every member an equal voice in this crucial decision, reinforcing the democratic nature of the DAO.

  3. Conclude this vote before any other [CIP] proposals in the pipeline

    • Priority and Focus: By prioritizing this vote, the community can address the root issue of centralized control first, allowing subsequent proposals to be decided in a more decentralized manner.
    • Restoring Trust: Concluding this vote first will demonstrate a commitment to decentralization and transparency, restoring trust and confidence in the DAO’s governance process.

Conclusion

Abolishing the delegation of voting power is a crucial step towards ensuring a more decentralized, democratic, and transparent governance structure within the Conic DAO. By voting in favor of this proposal, community members will help restore balance and integrity to the decision-making process, fostering a healthier and more engaged DAO. This change will not only align with the core principles of decentralization but also promote the long-term sustainability and success of the Conic project. Implementing a special voting mechanism where each address has only one vote for this proposal ensures that the decision is truly democratic and represents the collective will of the entire community.

1 Like
#2

Delegation should not matter as long as votes are driven in a manner that optimizes yield and asset exposure relative to emissions and fees to pools included in the omni. Delegates are incentivized to vote in a manner that optimizes revenue for vlCNC

#3

  • Centralization creates a single point of failure. If the delegates make poor decisions or act in their own interests rather than the community’s, it could have detrimental effects on the entire DAO

  • The current system allows the developer to hold a majority of delegated votes. This creates a significant conflict of interest where the developer can prioritize their own interests over the community’s.

  • Delegates, including the developer, may focus on short-term revenue optimization at the expense of long-term sustainability and growth. Diverse participation ensures a balance between short-term gains and long-term vision.

  • Delegation discourages members from actively participating in the governance process.

  • A system where power is concentrated in a few hands can erode trust within the community.

While optimizing yield and asset exposure is important, it should not come at the cost of decentralization, transparency, and democratic participation. The centralization of power through delegation contradicts the core principles of a DAO and creates risks related to conflicts of interest, reduced member engagement, and opaque decision-making.