Proposed changes in staking interest rates in proportion to vote participation
Ended 2y 3mos ago
closed
Description

Are you INTR holders aware of how much of the vote to decide the future of Interlay is currently being decided by the volume of vINTRs?

At the moment, only less than 1% of the tokens in circulation are being voted on by a very low number of "willing voters".
How would you feel if the turnout in your country's elections is less than 1%?

What are the causes? I think there is one major cause.
That is, whether you participate in voting enthusiastically or just do staking without thinking and sleep, the rate of staking you get is the same.

Currently, the "motivated voters" continue to make "wise decisions" and those who do not participate in voting are not disadvantaged at all.
However, in the future, when shorting becomes available on the exchanges, for example, there may be cases in which INTR's misjudgment will benefit a certain segment of the population.

Of course, I understand that some people are too busy to participate in every discussion every time.
However, when I looked at the current turnout, I thought the willingness of the holders to participate in the quagmire was too low.

Also, we are fortunate that the discussions that have been the subject of voting so far have been informative and
Those who have not voted are in a position to benefit equally from the decisions of those who have voted.
If that is the case, then we should receive a somewhat higher rate of return for those who voted than for accounts that were simply staked and left alone.
I believe that they should receive a somewhat larger interest rate.

I would expect that having the interest rate vary depending on whether or not a vote is cast would greatly increase participation in the voting process.
This will allow the community to continue to make wise decisions on beneficial matters with a large number of votes from the community, even if malicious votes are generated in the future.

Next, I have a couple of suggestions for changes to the Staking mechanism.
One is to increase the current Staking allocation to 0.8 times the existing amount and distribute 20% of that reduced amount once a month based on the amount of vINTRs that have voted.
This is based on the idea that the profits of the non-voters are supported by the voters, and considers the act of voting as compensation for labor.
Ideally, though, every vote would be cast every time.
To be realistic, we classify anyone who participates in voting even once a month as a "voting participant.

If there are no deals to vote on in a given month, the incentive will be carried over to the next month.
For this deal, all accounts participating in the voting will earn the incentive.

If you have an opinion in favor of or against these interest rate changes, you may participate in the voting to protect your own interests.
We hope to get a lot of people's opinions.

Translated with www.DeepL.com/Translator (free version)

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Information
Snapshot
Assets(1)
INTR
x1
Timestamp
Created
Oct 03 2022 22:57
Start date
Oct 03 2022 15:00
End date
Oct 14 2022 15:00
Results
Voted
273.43K INTR
Voters
7
balance-of
disagree(I would like to hear your opinion.)
0 INTR
 
agree/staking rate difference is 05%
0 INTR
 
agree/staking rate difference is 10%
0 INTR
 
agree/staking rate difference is 15%
0 INTR
 
agree/staking rate difference is 20%
273.43K INTR
 
quadratic-balance-of
disagree(I would like to hear your opinion.)
0 INTR
 
agree/staking rate difference is 05%
0 INTR
 
agree/staking rate difference is 10%
0 INTR
 
agree/staking rate difference is 15%
0 INTR
 
agree/staking rate difference is 20%
1.24K INTR
 
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