After all the feedback, and some study on our tokens and its distributions I agree with you.
My sense is that the DAO needs to find economic incentives, alongside that governance token use case, to really encourage holding and staking of the token.
I also strongly agree here, but I think we can work both sides.
damn, I loved this feedback, thanks a lot for puttin this way in such clever and direct words. Its been very good to me to make an mental effort in that direction. Yesterday I was analasing our governance tokens, and I want to ask you. How do you feel about hedgeys that can be locked for months ?
Thanks Vlad - and thanks again for getting us thinking about this.
As a proud owner of multiple FOX hedgies, I love the idea of incentivizing both receiving of FOX for contributor compensation, as well as incentivizing longer-term holding. That’s a great win for the DAO–and if the token does appreciate over time–the token holder too.
I’m less convinced that hedgey holders should have extra governance rewards. These users are already getting more voting power as soon as they receive the hedgey (20% for the full year timelock). That added voting power can be leveraged immediately once the NFT is in their account. Adding more voting power does fit into the spirit of incentivizing longer-term holding, but it also skews things further in favor of those hedgey holders. As I mentioned above the longer-term holding period could discourage governance attacks, so maybe this would be less a concern relative to the proposed FOXy multiplier. But that might be less of a barrier for hedgies with a shorter timelock of months rather than 12 or 18 months. Also, if there’s a multiplier on hedgies, there’s a possibility that the overall community will start to push back against this program because they become concerned that some hedgey holders will get too much governance power.
oh, i was unsure i liked t he idea initially of extra vote power on my hedgies already. I didnt even think aobut the Fact that i already got an extra 30% on mine. be like …double dipping my vote power. kinda …concerning.
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