Proposal Idea: Timelock proposer's YFI when making on chain proposals

I am seeing a lot of proposals going on chain without proposers doing due diligence with respect to community discussion.

I therefore suggest that if someone makes a proposal, that they have to timelock YFI into a contract in connection with their on chain proposal submission.

Another alternative which I like even better is to have a sponsorship phase for all proposals where the community must collectively agree to lock 10YFI within a specified period (5 days, for example) for a specified time period before a vote even takes place. If 10YFI is not raised, then tokens are released back to sponsors. Also, in this scheme the proposer must be also be a sponsor to a minimum amount of 1YFI.

A certain minimum amount of YFI should be locked up by the proposed. The lock should last for a while, perhaps (edit: 30 days), to ensure that the proposer is committed to seeing the proposal through.

I would suggest a 1 YFI lock for 90 days should be required when submitting on chain proposals. This is to be considered counter-spam measure.

4 Likes

*Sighs Unfortunately, it is mostly UI problem, now.

Other options to consider:

  1. Posses minimum amount of YFI to put proposal on-chain.
  2. Stake YFI in the contract and than burn if proposal fails.
  3. Stake YFI in the contract and allow other people to burn your stake if proposal is ill formatted.

Overall, @hc.link sounds good, however, 90 days might be to long.

2 Likes

Please elaborate on the UI challenge. I will consider it over the weekend and add it to the other UI slides I’m doing.

3 Likes

I support option 3, I’ve posted a similar idea, but it was aimed at a later version of the governance.

2 Likes

Generally speaking, proposals are based on good intentions. 1 YFI is too costly and discouraging.
I think the existing pool #4 is for YFI long-term hodlers. Could we burn the coinage(amount of YFI*time staked) in pool#4 as a collateral for raising proposals on-chain? @banteg