BIP-000x Incentivizing participation in the Governance

Governance Draft BIP's
1

Author:

Hyde

Introduction:

The purpose of this proposal is to incentivize active voters for participating in governance.

Reasoning:

Voting on BIP-0002, which did not reach quorum, showed that we need to find a way to incentivize stakers who participate in bitocracy, so we would be able effectively use our governance. Therefore I propose to implement a solution to reward those, who actively participate in voting.

Detailed info:

For this purpose I will use the BIP-0001, as a precedent for the rewards sharing:

Vesting - TBD.

XUSD holders and lenders : 80% (no change)
Staking rewards: 18%
Rewards for participating in governance: 2%

In other words the staking rewards would be split 90% for all stakers, and 10% additionaly for wallets participating in governance.

We could additionally add different, more favorable vesting conditions for people participating in governance.

4 Likes
2

Well drafted, Hyde. I think this is a necessity to reach the needed quorum for votes.

Another solution would be to temporarily disable the necessary quorum. But that doesn’t feel the right way to do it.

2 Likes