Hello,
Ok, i’m gonna try this now. I’m a small wallet holder, first timer and came to optimism trough my own defi journey touching almost all chains where gas fee’s were on a level i could afford them (non mainnet…) .
I’m not on optimism from an idealogical perspective of governance, I don’t know all the history, and i am because i think longer term i can optimize my returns here.
And i’m locked in longer term because i locked my funds in Velo due to the OP drop on 10K lock combined with good return on bribes. From there i explored Syntehtics stack, Quix, Sonne, OpenX, etc. So now i’m in I thought lets try & comment
As a smaller wallet holder, i think;
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Its pretty complex to participate to governance & also a bit intimidating. there’s a lot of material to read and conflicting opinions + discussions on different topics are in same channels in discord + all those seemingly smart people. For me simple things would help like a channel per proposal so i can read up on just the proposals i have interest in / the ones i feel i have a bit more knowledge about. Discord is for me the easiest way of comms
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You’re spending millions & basically running an investment fund, my rl job is with a company and when i spend those amounts i need to report weekly on the progress of returns. you can demand 1-5% of a grant must be used for reporting of results. You can demand more sophiticated grant requests where funds are realased in batches based on KPI achievements
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I can imagine delegates need compensation, this increases quality. In my view, this compensation should come from a balance between their portolio performance (eg Defi, NFT, etc.) & OP token performance. I think this creates accountability & quality + delegates need to have skin in the game in my view (my assumption is each delegate also holds significant amounts of OP?). What i do find extra complex, in my normal job i sign for the fact i do not work / share info with competitors; this line is more blurred in defi I understand but i feel uncomfortable with delegates who also hold large bags/interest on other, especially competing, chains
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I think it makes sense to do a periodical reset of delegations; like once per year delegations are reset and need to be re-committed; this requires activite desicion making. Nearly every political entity re-elects its leaders periodically and votes are not carried over in this process
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I would love to see a strategy behind grant allocation (+ this strategy made transparant) and voting on metrics related to that strategy. eg if strategy is to aquire non-mercenary capital, incentivize long term lock in of strategic assets (eg long term btc lock ins) etc. With a transparant strategy, it becomes easier for anyone to evaluate the pro’s/con’s of a grant and thereby contribute to governance
Those are my top of mind thoughts. hope it helps. In the end, i just hope for quality so i know the funds I committed for longer term are going to grow.
best