Approval Ranking Example
Mission proposals will be approval ranked based on the number of yes votes. Each Mission proposal must receive a minimum number of yes votes, equal to 51% of quorum. Any Mission that does not receive > required number of yes votes will not qualify for a budget allocation. The top ranked proposals, above the minimum number of yes votes, will be accepted until the Intent Budget runs out. If a Mission would push the Intent Budget over the approved amount, it will not be included. Any Intent Budgets left over will be returned to the Governance Fund.
Imagine the following scenario:
- Votable supply = 20M OP
- Quorum = 6M OP (30% votable supply)
- Minimum yes vote requirement = 3.1M OP (51% of quorum)
- Total budget for Intent #10 = 200k OP
- Mission 1: Ask for 50k OP, 5M OP votes (all are Yes votes)
- Mission 2: Ask for 50k OP, 2M OP votes (all are Yes votes)
- Mission 3: Ask for 50k OP, 3.1M OP votes (all are Yes votes)
- Mission 4: Ask for 75k OP, 3.1M OP votes (all are Yes votes)
- Mission 5: Ask for 35k OP, 3.1M OP votes (all are Yes votes)
Outcome: Mission 1, 3, and 4 would get funded, as they were all above quorum and within the 200k budget. Mission 2 did not meet the quorum requirement. Mission 5 met quorum but was over the budget allocated to this Intent (200k).
How to Vote: This vote utilizes approval ranking. You may place a vote to approve any number of Missions you would like to approve with your full voting power. That means, in the above example, if I am a delegate with 1M OP voting power, I could cast votes as follows:
- Mission 1: 1M OP (approve)
- Mission 2: Abstain (don’t approve)
- Mission 3: 1M OP (approve)
- Mission 4: Abstain (don’t approve)
- Mission 5: 1M OP (approve)
As a voter, you should vote
yes on all Missions you think deserve funding, and you should abstain from voting on Missions you do not think deserve funding.
What to Consider when Ranking Mission Proposals
- Missions should be specific initiatives that can be completed start-to-finish by the end of Season 4. They should not be for ongoing services or proposals that cannnot be marked
- Missions should help achieve the Intent they are proposed under. You should approve the Missions you believe will be most effective at acheiving the Intent. If a Mission is out of scope for a particular Intent, you should not approve that Mission.
- Mission Proposals should not rely on the Optimism Foundation or OP Labs for implementation. Mission Proposals should be able to be executed autonomously by the Alliance, although the Foundation or Labs may choose to provide additional support.
- You should consider the number of Missions any given Alliance member has committed to execute. While there is no limit to the number of Alliances someone can be a part of, there is a natural limit to the amount any given member can contribute.
- You should consider whether the budget is adequate to support the milestones laid out in the proposal. Impact above and beyond what’s required to execute the proposal may be rewarded by RetroPGF in the future.
Ultimately, the decision is up to Token House delegates! Use your best judgment when evaluating Mission proposals to ensure they are value-aligned and work towards our Collective Intents, are proposed by legimate Alliances, and are scoped appropriately to be effectively evaluated in the next round of RetroPGF
Hey Collective, we are still a bit confused. Where do we go to cast our vote? Where can we see a list of proposals that we can actually vote on? AB is a delegate of a significant amount of OP…but we’re not sure how to vote yet.
Voting occurs at vote.optimism.io
Please see the Operating Manual and Governance Calendar for more info.
Hey @AdvantageBlockchain, i’ll be happy to guide you through the onboarding and help with any questions you might have! How can I help?