In recent AIP votes we have had issues with low-voter turnout. There are a few different reasons causing this, and we’ve heard from some suggestions from members on why. The delegation system can help!
Why Are Voting Totals Low?
- Engagement across all crypto-twitter & discords are low right now
- Holders may believe it’s not necessary to vote for small proposals
- If votes are favorable, holders are choosing not to vote unless needed
There are requirements for voting that some retail holders may not be aware of. Coins kept in centralized exchanges cannot be used for voting. It is recommended to moving holdings to a non-custodial wallet in most cases.
Forums like this are generally popular with enthusiasts (like me) who enjoy browsing the latest topics. These mediums are generally less active compared to discords setup for small conversation/memes.
The delegation system allows holders to focus less on keeping up with the latest news. Their token’s voting power is granted to a delegate (someone like me or @asec or a larger delegate like Ape Universe) so that their votes are still used for each AIP. Whether it’s for a small creator grant or a larger proposal, every vote is important.
How this works is a user goes to https://snapshot.org/#/delegate/apecoin.eth and enters the wallet or ENS domain of the delegate they would like to allocate their voting power to. This does not lock the tokens from being traded or transferred, and voting power can be revoked at any time by the delegator for any reason.
An interesting aspect of delegation that most dont know: tokens that are locked up (for launch contributors, Yuga Labs, etc) can be used to vote at this time if delegated through the snapshot system.
If a user wants to delegate their tokens, they must pay a small gas fee for doing so. Revoking this delegation likewise costs a small gas fee as well. It is recommended to choose a delegate who will keep you updated on how they are planning to vote for AIPs. If you like a specific user, consider asking them to be a delegate.
Some ideas for delegates (I am doing these things) include:
- Advanced notice to delegators concerning large proposals
- Establishing newsletter updates to delegators on planned votes
- Firmly state your goals & paramaters for how you will vote on ideas
I’ve met many people who are interested in being a delegate. It’s not a paying position (i’m not charging money) but it does give more weight to active contributors who are tracking each of these AIPs from first idea to voting day.
Increasing our engagement levels in the DAO is important. I feel that the delegate system allows both active & passive members to be involved. If you’re not regularly voting, consider finding a delegate who watches closely!