Related Discussions: eIP 32: Delegate Optimisations in Governance
Submission Date: 22 December, 2022
- Simple Summary:
The proposal aims at gaining community support for launching the Recognised Delegates Programme as an addition to the existing DAO delegates structure. The Recognised Delegates Programme will introduce a reputation system to the delegates system, giving outstanding DAO participants recognition thus motivating them and other community members to promptly participate in the governance of the protocol.
Disclosure: I am the Ecosystem & Community Lead at Euler Labs. However, the following comments and views are my own and do not represent the positions of any affiliated organisations.
DAOs as a new form of social organisation are heavily reliant on reputation, Recognised Delegates Programme represents recognition to those who added the most value to the DAO with elevated status/title, special discord roles, and front-end changes prioritising recognised delegates.
Euler governance has seen continuous growing participation among community members, though we have to recognise that the delegate system hasn’t fully released its potential. The delegation system has walked towards a better structure with the recently passed Active Delegates Programme which gives active DAO participants more exposure and recognition, this proposal would like to further improve the system by giving more acknowledgement based on value-added.
- Specification/Body Text:
The Status Quo – Attempts to Establish Structure in the DAO
Currently, there are only two tiers of delegates: Public Delegates and Active Delegates. Anyone who submits the application can have a public profile on the delegates page to decentralise the process. Any public delegate that has passed a minimum level of voting participation automatically becomes an Active Delegate (see: eIP 32: Delegate Optimisations in Governance ). There are no assessments or rewards for the active community members that have made extra contributions to the DAO, it is difficult for community members looking to delegate their votes to have an insight into the members that added the most value to the community and delegate their voting power accordingly.
What is a Recognised Delegate
A recognised delegate is an elected, paid post of reputable, diligent and qualified Euler DAO members who will work closely with the team and contribute to the protocol. They are respected members of the DAO and recommended public delegates.
Criteria of a Recognised Delegate
- You have a good reputation in the space & good relationship with the community
- You have to maintain >80% of overall voting participation in the 3-month period prior to Recognised Delegates Application
- You attach short explanations to all of your votes in Snapshot
- You actively contribute to the DAO and participate in community discussions
- You are qualified in your preferred area of contribution, for example, if it involves technical know-how and risk management
How to Become a Recognised Delegate
A quarterly community vote will be conducted to decide the remaining/leaving/election of Recognised Delegates
- Community members & existing Recognised Delegates submit applications
- Only applicants with >80% overall voting participation rates in the prior 3-month period will be qualified
- Only applicants with >600 EUL token delegated will be qualified
- Existing Recognised Delegates** review the application to gatekeep & filter the low-quality applications, all applications & decisions will be made public for maximum transparency
- Existing Delegate prepares for the quarterly community vote with:
- Activity statistics for the existing Recognised Delegates in the past 3 months
- Applications of the Recognised Delegates Programme
- Quarterly community Snapshot vote for the top 10 members to be the Recognised Delegates of the next quarter:
- For an existing Recognised Delegate to remain in the post (by voting for them)
- For an existing Recognised Delegate to leave the post (by NOT voting for them)
- For a delegate to become a Recognised Delegate (by voting for them)
Implementation Set up:
- ** Recommend setting up a recognised delegates committee consisting of @SuperPat, @Matija, @river0x, @Raslambek, @knightsemplar to conduct filtering of the first batch of incoming applications and post the first quarterly community proposal
- Changes on the front-end
- Pin the Recognised Delegates application at the top of the Delegates page, before Active Delegates
- Grant check-marks next to their delegate profile name
- Coordinape set-up without a budget to assess the contribution of each recognised delegate on a monthly basis, published and made visible to community members
- Recommend a distribution of governance tokens of 200 EUL per recognised delegates per month. Recognised Delegates whose voting participation rate fell below 80%/fail to attach explanations to their votes in any of the months during term period will be disqualified from receiving governance token of that month.
- It recognises and rewards community members who add a lot of value to the DAO.
- It establishes examples for other community members and motivates them to actively participate and contribute
- It gives the community visibility of top contributors’ contributions and allocates their votes accordingly.
- It could entrench and centralise governance around existing participants.
- The criteria for being a recognised delegate may be too harsh which can effectively decrease their motivation
5. Next steps
- The community should discuss the idea of the Recognised Delegates Programme and assess its value to the DAO
- The community should discuss the proposed criteria and other implementation details to see if they are effective to achieve the goals
Previous discussion related to delegates structure change – eIP 32: Delegate Optimisations in Governance