Do we need gov and voting? Liquity and ETH have no gov and voting. My vote is to sell token? I love how strong the rocketpool community has become. I worry masses are always wrong like in financial markets. Previous community errors: Complaining of CEX listing before rise of DEX’S. Complaining of launch delay before bug got caught. Complaining of reth illiquity before steth now illiquity. Complaining of lack of farming incentives before incentive inbalances getting rugged now in bear. Complaining about lack of marketing spend before a bear market when you need funds. Just my two cents, I always need to learn more.
@epineph@ramana Square root and half square root give the same voting power. Not sure why it was done this way, but it’s been confirmed in an earlier thread there’s no difference.
@Surfaccountant ETH absolutely has voting for changes, it’s just more obscure. When, eg, the difficulty bomb is moved that happens via hard fork and agreement to take that fork. You vote by moving to a client that implements that. Liquity is a cool example – it’s a static contract and needs no governance (centralized OR decentralized); this is an awesome ultimate target, but I don’t think realistic in the liquid staking derivative market.
OPINION: There is no point in changing the voting method alone. Reason: Due to the lack of independent identity restrictions, it is possible for a large user to bypass “secondary voting” or “tertiary voting” by having multiple addresses. Recommendation:It is possible to avoid users from splitting their funds across multiple addresses through gaming, and then secondary voting will have value.
Note that the voting weight is calculated from the effective staked RPL in a node, so while not perfect at stopping multiple addresses, it does make it more costly.
(Splitting into many nodes requires higher gas costs, spreading minipools, each requiring 16 ETH, and splitting the RPL while staying above 10% for rewards. Also the <150% RPL lock can can limit the RPL spread to new addresses if already staked.)