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Based on current projections, the aim is to be able to hold a vote by January 22nd.
Detailed Description
The current Snapshot strategy is outdated, since it is based on the old staking program. With the transition to SafeStaking, we need to update the strategy to correctly calculate tokenholders' balances for the purposes of governance.
In addition, the transition to the new Community Trust governance processes on the Lexicon governance platform requires a further modification to the strategy, since vote power is no longer calculated purely quadratically.
Instead, it is calculated using the formula vote_power = token_balance ^ power_modifier, where power_modifier can be set by the community to any value between 0 and 1, inclusive. Currently it is set at 0.75.
Tasks
Spec out new Snapshot strategy
Code new Snapshot strategy
Test new Snapshot strategy
Submit strategy to Snapshot team for approval
Deploy new Snapshot strategy to the new HOPR Community Trust Snapshot space
The text was updated successfully, but these errors were encountered:
This is part of issue #351
Issue deadline
Based on current projections, the aim is to be able to hold a vote by January 22nd.
Detailed Description
The current Snapshot strategy is outdated, since it is based on the old staking program. With the transition to SafeStaking, we need to update the strategy to correctly calculate tokenholders' balances for the purposes of governance.
In addition, the transition to the new Community Trust governance processes on the Lexicon governance platform requires a further modification to the strategy, since vote power is no longer calculated purely quadratically.
Instead, it is calculated using the formula
vote_power = token_balance ^ power_modifier
, wherepower_modifier
can be set by the community to any value between 0 and 1, inclusive. Currently it is set at 0.75.Tasks
The text was updated successfully, but these errors were encountered: