MIP-5┃Governance Proposal Quorum update

Summary:

The goal of this proposal is to adjust Quorum according to the last votes and protocol improvements.

Context:

Previously, to reach the quorum the team had to vote at the end of every proposal (they always voted for the choice made by vMIMO holders), and that’s not something we want. Mimo Protocol should be as decentralized as possible.

After calculating the average of the community votes, we obtain :

  • For MIR proposal, there were no proposals, so there is no data available
  • For MGP proposal, an average of 3,4 M vMIMO
  • For MIP proposal, an average of 5,1 M vMIMO
  • For previous vote (before the MIP-0), an average of 2,7 M vMIMO
  • An overall average of 4,9 M vMIMO (since MIP-0)

Rational :

That’s why we propose to reduce Quorum as follows:

  • MIR : 5 M to 1 M vMIMO (0,5% to 0,1% of the maximum supply)
  • MGP : 10 M to 2,5 M vMIMO (1% to 0,25% of the maximum supply)
  • MIP : 25 M to 5 M vMIMO (2,5% to 0,5% of the maximum supply)

The voting period will remain the same as before.

Note that these modifications are possible to change again in the future depending on the data of the next votes.

Means:

  • Human resources: If the proposal is approved, this will need to adjust the Quorum Parameters for all next Governance Proposals.
  • Treasury resources: There is no treasury cost.

Technical implementation:

No technical implementation required

Voting options:

  • Accept Quorum change
  • Against Quorum change
  • Abstain
  • Accept Quorum change
  • Against Quorum change
  • Abstain

0 voters

1 Like

Out of curiosity, can we know the medians?

2 Likes

Out of curiosity, can we know the medians?

  • For MIR proposal, there were no proposals, so there is no data available
  • For MGP proposal, a median of 3 M vMIMO
  • For MIP proposal, a median of 5,9 M vMIMO
  • For previous vote (before the MIP-0), a median of 1,3 M vMIMO
  • An overall median of 4,75 M vMIMO (since MIP-0)
2 Likes

With over 75M votes from $vMIMO holders, MIP-5 proposal was approved at 100%.

Quorum will be adjust to :

  • MIR : 5 M to 1 M vMIMO (0,5% to 0,1% of the maximum supply)
  • MGP : 10 M to 2,5 M vMIMO (1% to 0,25% of the maximum supply)
  • MIP : 25 M to 5 M vMIMO (2,5% to 0,5% of the maximum supply)

Results: Snapshot