Simple proposal:
I vote to remove the DAO title off spool. It’s clearly a rigged system as 2 wallets have 600k vospool which are manipulating their votes to their favor.
No normal user can accumulate this amount of voSpool. How did they get this immense amount of voSpool after such a short time and how to compete against it?
Please just stop this farce.
Agreed. Spool is a fantastic product. To see the DAO turn into whatever this is, is such a shame.
Spool had such a strong community at the start as it aimed to become a true DAO. The voSpool mechanic is fantastic.
But having founders/builders print hundreds of thousands of their own voSpool with different tokenomics is genuinely retarded. What are they afraid of?
Founders, this is your opportunity to be transparent. Let’s see.
Hi,
you two, great to see you active, what a pity it is on such a matter. But I think we just have a piece of information missing here for you two. Let me explain:
These votes come from preDAO members (aka founding contributors) and it was stated and mentioned by Phil for example from the beginning that preDAO members will have their voting power decrease over time while claiming during the vesting period.
This was purposefully built so that no external force with a lot of money can rig the system. Btw, this governance power does not count for the emission voting, otherwise individual founding contributors could rig the system there to their benefit and incentive a specific Smart Vault for example.
Without this mechanism, a party could step in and destroy everything that was built for the last roughly 2 years as seen in other DAOs. Makes sense doesn’t it? voSPOOL tokenomics are new compared to ve-tokenomics for example and thought through deeply from the beginning.
Every community member who stakes over time will gain governance power, and every founding contributor who claims will lose governance power.
Also, the founding contributors want the best for Spool DAO but they are not speaking with one voice, they are individuals. No one has or should ‘compete’ against them but we all together work out what is the best way for the DAO. I personally think that it’s great that founding contributors and other DAO members are voting together and mostly have the same perspective so far. As said, the founders are not speaking with one voice but have individual voting power, and potentially not all have the same view on every topic internally as well.
So, there is no ‘against’ … it’s together.
This way governance is transitioning gradually into full DAO hands to become the true DAO from within. It’s one inherently important part of the voSPOOL mechanic.
We gladly discuss this topic in dc with you but as this is a nonsense proposal, it and the discussion in here will be deleted in a couple of hours according to the forum rules. Thanks for your understanding.
Doesn’t change the fact that founders printed each other 1000x more voSpool than anyone is ever going to be able to accrue.
Let’s meet halfway and temporarily remove the ‘DAO’ name until, like you say, we transition over to ‘true DAO’.
I mean you’re basically admitting you’re not a DAO until a later point in time. Maybe when you’re done voting each other 6figs salaries?
Why delete the post?
It’s our honest opinion.
If you want to be transparent, leave it open.
Calling our feelings and opinions a ‘nonsense proposal’ is insulting to the entire community.
So its a preDAO? So not a DAO?
So to me it currently sounds like this after your explanation:
We are saving ourselves from third parties to jump in to rig the system.
While you guys are giving each other 6figs salaries with your pre Dao voting power and other votes which cannot be voted against since at least 2 wallets with 200k and 400k vospool are always in favor of the votes?
Sounds to me like this is a fake democracy currently until the real Dao starts happening when the vospool power fades away? And God knows when this happens?
Guys, we are happy to discuss these things with you but let’s do it in a civilized manner.
Your first sentence is just wrong. Anyone who buys 200k SPOOL tokens (currently only ~60k USD so, not an absurd amount) and stakes them will have 200k voting power in three years. Everyone who puts in more will have more sooner.
While the voting power of the founding contributors goes to 0 when he claims his vested tokens within the next two years.
Again, there are ~45 founding contributors and they don’t voice the same opinion. The 200k voting wallet for example was one guy of them. As you may have noticed we just transitioned to the new voSPOOL voting recently and apparently not many other founding contributors did vote or wanted to vote on some of the opened proposals so far.
This is all perfectly set up as a DAO should grow from founders who devoted parts of their life to this to community members who grow into it. What about this is not a DAO? DAO stands for “decentralized autonomous organization”, right?
What exactly is it that you are fearing?
The founders building Spool DAO in the way they intended it with more and more governance power transitioning to non-founders?
Sorry, if that “nonsense” offended you. Taking it back as there obviously was a lack of information.
If you have a great proposal with great arguments that helps Spool DAO to thrive, everyone in the DAO can have a look at it, discuss it, and vote with their own opinion.
Bummer thought/hoped I have explained it better.
Again: What makes you think that all founding contributors are always thinking the same and are “always in favor of the votes”? They are ~45 people who have different opinions but all want the best for Spool DAO.
When the founding contributors voSPOOL power fades I’ve explained already in the course of the next two years, while every other DAO member is gaining power.
I’ll repeat it here as well: what do you fear?
If you put out a good proposal that will help Spool DAO to thrive, become better and actually start building it with the rest it would put time, effort, and energy of all in a much more helpful direction for everyone.
The important part here to understand is that the preDAO is posed with a choice.
They are entitled to vested SPOOL Tokens:
If they do ~not~ claim their vested SPOOL Tokens they will hold on to their voSPOOL.
If they do claim their vested SPOOL Tokens they can stake them (to get a portion of protocol generated revenue) but they lose their voSPOOL voting power and they will have to accumulate it like everyone.
It is mostly an economic mechanic that offers these people a choice beyond unlocking vested tokens as soon as possible (like seen in many other projects), which usually does not work for the better (again: Referring to most other occurences of such a concept we’ve seen in the past).
So it is not one-sided, “get a lot of voSPOOL and be happy”, it is a complex choice for each individual on what they value at this particular cycle in the Spool Ecosystem. And, as a friendly annotation: Again, these people lose their voSPOOL if they claim their tokens from the vesting.
Have you read the docs and blog posts? The way voSpool power fades away over time has been made clear a long time ago.
DAOs just like any organisation need guardianship, especially at the beginning. The preDAO setup has been clearly explained for about a year now. I personally prefer it over the alternatives of either having VCs make all of the decisions basically forever (Uniswap, Sushi etc.) or just giving all of the decision making power to random people that are not willing to read before making a proposal (do you have any example of one such case? I am struggling to come up with one).
The fact that this discussion is happening here in a forum directly without having to go through a ‘temperature check’ in a discord channel where a team can hand-pick which topics get discussed as is the case with most large networks is already way more democratic than the DAO industry standard.
Looking at some of these comments makes me question the approach Spool is taking with having proposals just go up without any prior discussion. I guess there is a reason why others don’t go this direct with governance.
It wasn’t printed though, right? It is fading away over time until it is completely gone and capital had to be put up early to even start Spool. What would be the alternatives?
-Get VC funding with a centralized entity that then controls the protocol and can be attacked by state level actors?
-Have teams invest years and millions in building new protocols for free, finish the tech and then give everything to random forum people like you and me without having any stake?
Genuinely interested if you have an alternative proposal.
I agree that what we currently see in DeFi in general is a lot of ‘autonomous’ organizations that are quite centralized. ‘DAO’ as a term has been established for these digital, supported/driven by community setups though. I think that ‘DAO’ per meaning of the word fits what we have right now and going forward. I’ve been in the community for about a year though and none of this process has been surprising to me. It has been explained many times in AMAs, Discord calls ant I think even the docs.