Synopsis#

This proposal will allow current contributors (paid and unpaid) to have a stronger voice in the DAOs voting process by temporarily delegating JBX to them in Snapshot over the course of 6 funding cycles.

Motivation#

Currently voting weight is grossly imbalanced, and people with large voting power aren't necessarily the same people who are the most active in JBDAO. By finding a way to delegate JBX to people who are actively involved in maintaining and curating the community JBDAO can raise voter engagement and hopefully drive progress in the DAO in a way that's quick and adaptive to new market conditions.

Specification#

JBDAO multisig members create fifteen unique wallets with the sole purpose of those wallets holding JBX for the use of vote delegation on snapshot. Jango and peri supply each of these wallets with 10 million JBX, split evenly between them, thus that jango supplies 75 million JBX, and peri supplies 75 million JBX. The JBX remains the property of jango and peri, but they agree to allow it to be delegated via snapshot vote as laid out below:

Fifteen wallets will be created by the multisig team at JB, and will be endowed with 10 million JBX each.

Fifteen contributors at Juicebox (or heavily active members of the community) will be selected by vote to lay claim to the voting delegation power of these wallets. These do not have to be paid contributors, but can be. Just as well this could be people who regularly engage in JB discussions and are present in the server, even if they do not have recurring payout porposals. The outcome of this vote will determine these fifteen individuals, and from then one these 15 individuals will enjoy a 10 million JBX voting delegation over the course of six funding cycles. At the end of the six funding cycles, a new 15 contributors will be voted on. The maximum that an individual an be voted to be granted JBX delegation is two times, meaning that if somebody has been voted to receive this voting delegation two times in a row (12 funding cycles), then they must recuse themselves from the running for at least one vote (the next six funding cycles).

Any contributor that has over 5 million JBX in their possession is ineligible for receiving this vote delegation.

If the 15 individuals who do receive this vote delegation, at maximum 8 can be paid contributors currently under recurring payout proposals.

Rationale#

This allows a group of involved individuals in the JB community to have an active and significant say in the voting outcomes of the JB governance system. It also provides a check against paid contributors voting in their own or for each other's self-interest, by allowing non-paid contributors to actively participate in voting. It provides an equalizing platform against JBX whales.

Risks#

Jango and peri, while still owning the JBX in question, lose its ability to affect votes-- which is a safeguard against malicious behavior in the DAO. Furthermore, the individuals who receive this JBX dump may conspire to affect voting, which is a real problem. Safeguards are put in place for this, however, as outlined in the specification section.

Timeline#

Immediately at the time of passing. The multisig members will have one FC to put a voting procedure in place and have wallets ready and supplied/ready to delegate JBX, so that by the next FC from this proposal passing a vote will be up for the 15 individuals.