Last updated 4 years ago
A proportional representation voting system such as 100 ADA = 10 Vote for treasury distribution funds or CIPs represents a potential threat
This is the total amount allocated to Bicameralism Voting Mechanism.
Create a bicameralism voting system that balances 1 person 1 vote alongside 100 ADA = 100 Votes.
Having worked through the EOS blockchain system from prior to launch, all the way through main net launch, the 100 ADA = 100 Vote method bad
We must take a strong look at the voting mechanism for both CIP's (Cardano Improvement Proposals) as well as Treasury Fund Distributions. There needs to be a balance between those who have a strong stake in the network who should therefore have a bigger say (as they have more to lose) versus those who have a small stake without a voice to be heard in the network.
The proposal is that a Bicameral Voting system be put into place. This means that voting is effectively completed by the user and split into two houses to attempt passage.
On one hand, you have a house that awards more voting power to those with more ADA. The benefits here are clear in that those who have more stake in the system should have a stronger voice than those who have minimal stake.
On the other hand, you have one identity who owns a minimum amount of ADA (100 tokens) who is awarded a vote that stand equal footing to somebody who has 1,000,000 ADA.
The benefit is that for CIP's or Treasury dispersal, proposals MUST pass through both houses with approval before they are enacted. This puts a clean check and balance of power into place and rewards Network consensus. Each house has to essentially be able to convince the other. In reality, it means that only the best of CIP's and Treasury Propositions will actually be completed and awarded.
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