Am very much in favor and awesome to see many good comments!! Reminds me a bit of this sushiswap forum post I saw the other day where the interaction impressed me (which I also believe is a big part of the success that project is experiencing).
Few comments I have:
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Agree 5% is a good start and I could see a balance between 2-5%.
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I like the idea of using Snapshots off-chain voting especially since the team behind snapshot (Balancer) also have worked closely with projects like Aragon which could be one proposed solution to an easy launch of DAO.
Aragon Govern together with Blancer and their ERC3000 innovation saves the hassle of multisig setup and still be able to link the offchain voting of snapshot with onchian execution on ethereum (which works since renBTC can be on ethereum and the community fund doesnt have to be a BTC vault on Bitcoin). More information about Aragon Govern here.
(I dont hold any aragon tokens and have no financial interest in them, i just think it could save a lot of time and hassle with writing new contracts, audits, when thats already done by Aragon and battle tested by many projects).
(side note, this kinda ties back to the convo @MaxRoszko and I were having in the post here. If a project like Aragon would run on renVM instead it could tie the offchain voting with onchain execution on any chain. But thats a separate discussion hehe)
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I see no issue with Ren team and Alameda to be in control of the keys to the fund initially, this worked well for sushiswaps multisig structure last year so we have seen it work fine as an interim solution. Besides, if Sam would agree to tweet about it they are basically publicly holding themselves acountable at the same time as renVM gets some marketing exposure and maybe attracts new people to renVM governance. SBF has many followers after all.
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Cannot think of any reason why anyone other than node operators should be able to vote. Will just be too easy to game the system if everyone can vote. Just think of the fud around the voting power large tokenholders like exchanges will have when they have zero interest in the progress of renVM’s future.
Maybe a good solution to this can be found at a later stage where REN token holders have to lock their REN tokens for a time period to prove their interest in the project. I dont mind all token holders voting, just need to make sure incentives are aligned with best interest of renVM and not some P&D or manipulative/malicious incentive. Still too early to allow all token holders to vote imo, possible issues should be ironed out first. -
@loong had a look at Gitcoin and i like it, I assume you mean for the process of finding external devs? How would the DAO be funding it though? Can it be linked to the off-chain voting? That would be cool. If yes then it’s probably easier solution than Aragon I mentioned above, that would be more a long term DAO solution.