Swarm LD Quorum Ballot


#1

Ballot Title:
Swarm LD Voting Quorum

Short Description:
This ballot is to establish new quorum and voting majority requirements for the Swarm democracy.

Long Description:
This ballot is to establish new quorum and voting majority requirements for the Swarm democracy.

At the outset, the Swarm Fund Organisation was using a majority vote democracy for decisions regarded as central to the organization. This meant that more than 50% of the tokens in circulation were required for a vote option to become valid.

With the increased utility of Swarm, leading to a more diverse SWM owner community, the Swarm Fund Organisation is hereby calling for a vote regarding a reduced quorum requirement for votes on Swarm.

A quorum for a ballot is the minimum % of SWM tokens of the outstanding SWM tokens that must participate in the vote to make the proceedings of that ballot valid. Participating votes via delegated voting are included. Votes casted for “Pass on vote” are also counted into the quorum. The quorum for SWM is 25%.

Ballots will have two main types:

  1. Affirmative Ballots:
  • Voting options include „Adopt”, „Reject”, and “Pass”
  • The ballot is adopted, when (i) a quorum is reached and (ii) the casted votes for “„Adopt” surpass the votes f. “Reject”.
  1. Multi-criteria Ballots:
  • Voting options include „Adopt Option 1”,…,„Adopt Option n”, „Reject”, and “Pass”
  • The ballot for a certain option X is adopted, when (i) a quorum is reached and (ii) the casted votes for “„Adopt Option X” surpass the votes for “Reject”.

Note: in future the Swarm democracy will allow for ballots to be associated with categories, such as „Economics“, „Policy“, or „Protocol“. To refine governance, voting quorums and majorities may in future be defined custom per category.

Voting “yes” means accepting above new quorum and voting majority requirements.
Voting “no” means rejecting above new quorum and voting majority requirements.

Vote here: https://voting.swarm.fund/

Discussion of this ballot should proceed below.


#2

We need to define in this ballot what % outstanding means. Is it total tokens or total in circulation? How do we define circulation?


#3

= this is the outstanding tokens, that are not held by the organization


#4

Hey @zak, like Philipp mentions above, the outstanding tokens are the ones that are not held by the foundation.


#5

Thanks to both. Don’t mean to be a stickler but given the nature of the document I’d recommend being precise in what we propose. Can we amend the ballot?


#6

Might also be useful to note date/time vote closes.


#7

Yeah, I agree. Sorry for the late reply. We can’t amend the ballot. We would need to cancel and create a new one. This is because we create a hash of its contents so people can check what they are voting on .