AADA Governance Bonds

Graveyard
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As NFT pioneers we should explore using governance bonds.

How I could see it working is by minting a NFT which would detail how much AADA I hold bothy freely or bonded and give me a number of votes, I could then use this NFT for access to vote for or against proposals proportionally to my voting power. Or consume this NFT when submitting all my votes in 1 transaction, with the NFT being the identifier that it’s “my” vote. To mint the NFT I would suggest having a snapshot mechanism to whitelist AADA holders wallets and then minting the governance bond using eUXTO to confirm the whitelisted wallet is still holding the AADA.

In terms of making proposals again you could generate a different governance NFT say a “proposal NFT” proving the holder has more than X aada either in tokens or bonds and has the right to publish proposal. I still think the proposal NFTs should have to have X amount of either AADA tokens or bonds deposited to mint the NFT to prevent manipulation. Funds returned post vote.

We should do it to keep the AADA tokens and bonds liquid for casting votes and also because you have to actively do something to participate.

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How would that deter whale from gaming the system though… How do we know if gaming the system is happening? :face_with_monocle:

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Because 1 AADA token can only make a governance bond with the voting power once. So when a governance bond is minted if the person then sold their AADA they wouldnt be able to cast their vote (see section about eUXTO confirmation to cast votes)

The flipside is when making a proposal they would need to lock a set amount of AADA into the governance voting bond which then isnt returned until post vote, this should restrict peoples ability to vote through their own proposals.

At the same time though we are a DAO and more AADA tokens held mean more votes you can cast, this is unavoidable so best to stock up while prices are low.

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That was very informative . I can see the appeal.

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