Voting Fairness backed by FRENS

Ideas
1

Greetings my fellow Gotchi’s!

This is my first post here and I would like to start off by saying I have been blown away by the level of creativity everyone is discussing on this forum! I spent a few hours deep diving into some of these topics and now I am certain we are building something far bigger than our collective selves.

I’d like to discuss a potential proposal for creating fairness among all Gotchi’s so that we can all have a voice as this space grows exponentially larger and we onboard more users.

How can we make the DAO bulletproof against governance attacks on future proposals? Lets say there’s an important, yet controversial proposal; it may be easy for an individual, or organization to buy a ton of GHST and dump it into their vote, therefore making all the other votes less fair and less secure. For this reason it may be wise to start looking at ways to secure votes.

My idea is each GHST vote is “backed” by a certain number of FRENS.
For example, a 1:10 ratio of GHST to FRENS is required for each vote. This ensures that each GHST coin will have to be staked for at least 10 days to earn the 10 FRENS to back the vote, assuming the voter has 0 FRENS to begin with.

This will do a few things other than create more secure and fair votes;

  1. Creates another use case for FRENS without burning them. Currently FRENS can only be used for raffle tickets. This over time will create a mass accumulation of FRENS for the early stakers’, leaving little to no chance of new users winning anything when millions of tickets are dumped into one lotto. The FRENS voting mechanism will encourage Gotchi’s to hang onto FRENS they are using to back GHST votes. Each of us can decide how much we want to allocate towards raffles and towards votes.

  2. Encourages long time players to keep staking for FRENS over the coming years if they would like to play a bigger role in the REALM. When we get to the point that we can all mingle in the REALM, some of us may want to run for Gotchi Guv’Nuh, or some other role within the governance community. Gotchi’s can start planning for this now by making sure they have the most FRENS for these highly coveted positions.

I’m completely open and curious as to what you all have to say about this! Please share your thoughts.

Your homie,
-Hefe

1 Like
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It would need to be partnered with similar reinforcements for all the other asset classes, but it’s a very nice leash on the leveraged liquidity attack.

Someone earlier today suggested veFrens :slight_smile: lockable frens. That is another aspect we could delve into that might combine wonderfully with this concept.

For safety wheels on introducing something like this, it might be prudent to allow a one week period where people are allowed to convert tickets back to frens, so things can balance out a bit and people have a chance to decide how ‘in’ the want to be on that.

What if we gave wearables the fair market value(30 day MA) when equipped, and the mall price when unequipped? A well dressed gotchi is surely more persuasive.