Cancelled

JBP-311: Governance Process Amendment 7: Abstentions & Quorum

Author

Anon

Cycle

38

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Author: Nicholas
Date: 2022-12-13

Synopsis

Revise Governance Process to count Snapshot abstentions towards quorum, and increase quorum to 100 million votes.

Motivation

JBDAO’s current governance process does not count abstentions towards quorum. There is no significance to casting an Abstain vote in the current process.

This proposal is written in reaction to the Abstention governance discussion in Discord https://discord.com/channels/775859454780244028/879851197857677372/1045857623578263612

Specification

  • Increase Snapshot Proposal Quorum to 100M votes cast, including For, Against, and Abstain.
  • Add an executability clause. If a passed proposal is not executable as written, the multisig will await further governance proposals clarifying how it should proceed. If no subsequent proposals pass clarifying how to proceed, the non-executable portions of the passed proposal and any subsequent steps that are dependent upon those portions are to be ignored.

Revised Governance Process doc:

Rationale

When a voter choses to vote Abstain on a given proposal, they are delegating the decision on that proposal to the For and Against voters. Voting Abstain gives DAO members an opportunity to leave a Reason (comment) on their vote, and to delegate their voting power on a per-proposal basis. Voters who do not wish to delegate their votes can still choose to not participate in the proposal at all

The proposed 100M JBX quorum represents 4.8% of the total outstanding 2,097,524,655 JBX at the time of writing. Note that the total supply is ever increasing as new JBX is issued across all three versions of the protocol.

The executability clause is written to clarify what the multisig should do in situations like the recent ConstitutionDAO2 proposal, where the recipient of the $150k grant intended to close their Juicebox project to donations before the execution of the grant. With the present proposal, the non-executable portion of the proposal would have been paused until further governance clarified what the multisig should do.

Risks

The higher quorum requirement could make it more difficult to pass governance proposals.

Counting abstentions in quorum may lead to unanticipated circumstances where a voter Abstains and that allows a proposal that would previously have failed quorum to pass.

Timeline

GC#38

Votes

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