MIP-6┃Adjust the threshold to post governance proposals on the Snapshot

Summary:

The goal of this proposal is to adjust the threshold to post governance proposals on Mimo’s Snapshot.

Context:

The threshold in Mimo’s snapshot is currently set at 5 vMIMO. Any individual holding 5 vMIMO can create a proposal within Mimo’s Snapshot which can lead to absurd proposals that pollute the governance of Mimo (This has already happened to us, Mimo snapshot admins removed them, but we do not want to moderate the proposals to remain decentralized).

A too low threshold can lead to having non-discussed governance proposals. On the other hand, a too high threshold makes governance less accessible.

Rationale:

That’s why we propose to open up proposals to any community member that meets a threshold of at least 100,000 vMIMO (0.01% of the total maximum supply); directly, or through delegation.

We propose multiple options for the new threshold:

  • 100k vMIMO
  • 500k vMIMO
  • 1M vMIMO
  • 1.5M vMIMO

We think it is important to have an engagement between the delegates and the community. We could open a post on the governance forum where delegates can present themselves and convince the community of their ability to deliver on their expectations.

vMIMO holders can delegate their vMIMO voting power on Mimo’s Snapshot.

Means:

  • Human resources: If the proposal is approved, this will need to update Mimo’s Snapshot Threshold Parameters.

  • Treasury resources: There is no treasury cost.

Technical implementation:

Update Mimo’s Snapshot Threshold Parameters.

Voting options:

  • Adjust the threshold to 100k vMIMO
  • Adjust the threshold to 500k vMIMO
  • Adjust the threshold to 1M vMIMO
  • Adjust the threshold to 1.5M vMIMO
  • Keep the threshold to 5 vMIMO
  • Abstain
    • Adjust the threshold to 100k vMIMO
    • Adjust the threshold to 500k vMIMO
    • Adjust the threshold to 1M vMIMO
    • Adjust the threshold to 1.5M vMIMO
  • Keep the threshold to 5vMIMO
  • Abstain

0 voters

5 Likes

To those who voted for 500k, don’t you think that 100k is a sufficient measure that avoids eccentric proposals but still allows to democratize access?
If the idea is to incentivize locking more Mimos, I’m not sure how. 100k vMimos already represents a substantial sum today (so in the future…), don’t you think?
(Clarification for context: at the time I wrote this post, the vote was 75% for 500k and 25% for 100k)

2 Likes

Yes lomimo you are right. When prices are in a „normal“ zone again. 500k vMIMO would be to much. 100k should be definitly enough. We have to think of that it not only means to buy 100k MIMO but also to lock them for 4 years to get that amount of vMIMO.

2 Likes

With over 77M votes from $vMIMO holders, MIP-6 proposal was approved at 100%.

Proposal Threshold will be adjust to :

  • 100k vMIMO

Results: Snapshot