You are viewing a single comment's thread from:
RE: Gridcoin poll: Should there be a minimum vote weight required for foundation polls? (vote until 27th February)
We should only count the amount of active shares (i.e. staked in the last 6 months)
From before the creation of the poll? Otherwise, couldn't someone stake once before the end of the poll?
What I mean is that if we say that we wish to have 40% voting requirements for a foundation poll, that's very well but the last few have only had 5-10% weight. I think this is because there are a good deal of shares that are no available for many reasons. We should count staking shares because that means we have a cap to consider. I think it would be at the end of the poll, because if someone hasn't staked in a long time, saw a poll they got carried away with and wanted to join in and participate on they should.
We could very well say we want 5% vote weight to acknowledge a foundation poll tough. But we need to understand that some shares may never vote because the coins are lost or owned by pools or exchanges that will never vote.
Very true, the most we've ever had vote in a single poll was maybe 120mil vote weight (mag+balance) and it was for voting BU out of the whitelist.
I think a major cause of low voting participation is a lack of knowledge that a poll is underway. When we make a major announcement in the GRC community, we're lucky to reach 20% after a week or two.
So yeah, I think that we should only count active stakers (plus BOINC mag). How would we go about monitoring staking activity over the last 6 months? Scan back 180k blocks, looking for eligible addresses to which we grab the balance for? It'd be far easier for CPIDs but investors don't have a CPID.
I think looking back 6 months (since that is how old a CPID can be before it needs to re-advertise itself) is a good way, determine the starting block to count as active stakes.
This way the poll determines the "first" block allowed to be counted in and the last block is when the poll ends. So we would actually give it 6 months + the amount of time the poll runs. This way we would make sure that only active coins (and Mag off course) are counted.