Seems like a step in the right direction.
Why 10% though?
Seems like a step in the right direction.
Why 10% though?
It seems like a nice number that has been discussed for a while and people seem comfy with. Do you have another suggestion?
Note that a number of us are working on a revised version of this AIP in collaboration with @philjfry and hope to have something out tomorrow.
6.9% because itās a nice number and many of us are comfy with it. And apply new rule to all existing pools with gauges
I just think we may want to bribe badger above 6.9% for example, and that baring any outside over-voting would be quite healthy for the ecosystem.
For a DAO to work to get to 10% of balancer for their small cap token seems not so bad. 6.9 is kinda wah wahhhh
The new proposal we are working on does that. It creates a general framework and assesses all gauges that have more than 10% of veBAL based on specified criteria. Based on that, it determines that wstETH/ETH is ok getting 16% and DIGG LP probs doesnāt need more votes if it has over 10%. We will share that tomorrow once everyone has had a bit more time to give feedback and I am able to sync up with @philjfry again.
I think this is why that is happening ;). Badger governance is not so active as there is less economic consequence to voting, so it is easy for one whale to block governance unless we do a massive get out the vote marketing campaign.
Aura is a fresh DAO that pays people to vote, so governance is quite active and the will of the people can more easily ring through.
Working to make this AIP look a little bit more like our BIP, which will then not even need governance IMO because it corrects an āerrorā in which we no longer can vote for what the graviAURA is supposed to vote for.
I guess in the end that will be up to the council how we decide what to do with those votes, but we already have a nice framework in place with code written and just have to change 1 variable to turn it back on
In reply to @philjfryās opening post:
Why are you picking on a single instance of the problem, instead of describing the real issue?
The wsteth/eth gauge also gets more than 10% of the votes. Should it be considered harmful as well?
And is it not a bit short-sighted to only look at the fees earned in the last 24 hours? This can vary greatly from day to day.
@lobsang.eth - Folks have been working on a new proposal that should solve - or at least tries to solve - a lot of your concerns (which are legit). As @Tritium mentioned, it compares the DIGG pool to the stETH pool and explains why - based on the current veBal and Aura gauge allocations - the latter is healthy while the former isnt.
imagine needing a framework to explain why stETH pool gud, DIGG pool bad
ppl in this thread should disclose their DIGG bags before commenting iwo
How about we stop singling out any pools and balancer fix the root cause so we can stop slapping bandaids on everything everywhere but where the issue lies. Iām long Digg and I donāt like bullies. Slow your roll pal, constant insults from you are wearing thin
I have 50k in the DIGG pool.
I know it seems absurd, but this is how we work towards decentralised governance.
This is how we find the patterns to implement as code.
I agree with the end effect of this governance, and what we are working to propose instead of it has exactly the same result.
Ye of little faith. Give it a chance, amigo. stETH and Digg are the only 2 pools that are receiving more than 10% of the veBAL votes so it just made good sense.
The proposal read weird by just analyzing DIGG when in fact stETH also has more than 10%. It was my suggestion initially to add stETH bc itās above 10% but is an example of a healthy pool. So itās actually a pretty nice framework.
Remember - these things arent just for smarty pants folks who are here now and know whatās going on. Theyre for folks who dont pay as much attention now and for folks who arent here now but may pay attention in the future - so you can show them later the reasoning behind certain actions.
In full disclosure, Iām a shrimp who bought DIGG long before this pool was even up for vote. I have like $2.1k of it now, which is in that pool, and my LP comprises like 0.05% of that pool. And Im in full support of the revised proposal and fully supported Badgerās DIGG proposal.
this comment does not make sense. People want to get good yields on BAL and Aura and so they buy into a pool with the best returnsā¦ the same people who have done this and own huge chunks of the total DIGG are the ones writing and discussing how best to regulate it.
Itās all a zero sum game if players donāt want to support healthy pools for the bal/aura ecosystem.
Looking forward to seeing the revised proposal.
Good morning!
Hereās the Proposal:
https://forum.aura.finance/t/aip-11-voting-suspension-for-unhealthy-gauges/
Hereās the Snapshot:
https://vote.aura.finance/#/proposal/0xc8c920dc682c4c56ad4d4ed40c328d0022d8badf903bc6ed7e7fa345c9aab5c7