Voting factors for consideration
Listing the different factors that will be considered for each voting approach
The methodology used for this approach comparison is documented separately.
Binary decision suitability
Description - Decisions that have a single proposal and only two voting options. The outcome will either be yes or no. Binary decisions could have a number of potential use cases:
Taxation - A binary decision could be used to turn on or off any form of taxation in the network that might have been used for funding the ecosystem's treasury.
Protocol upgrade - Protocol upgrades could potentially be enabled by a governance decision after a new node version has been deployed.
Removing a node - A node could be slashed or removed automatically for certain bad behaviours however there also may be situations where a manual vote is beneficial for handling situations where malicious actors are not being dealt with automatically by the network and a fix for this problem is being developed.
Policy or constitution change - A document might exist on-chain that outlines how the ecosystem governs itself beyond on-chain parameters. This could be updated using a binary decision.
Enabling & disabling features - A number of different features could be added to a distributed ledger and blockchain network. These features could be toggled on or off based on the outcome of a binary decision.
Maximum score - 5, Very important. The examples provided are not exhaustive and just help to highlight some of the decisions that might be relevant for a binary decision. It is fairly likely that a Web3 ecosystem could have binary decisions that it needs to handle.
Scoring questions
Accuracy & expressiveness - How accurately can these types of voting systems gather peoples exact opinions and preferences? Are voters able to accurately express themselves in their vote? How accurate is the outcome?
Time required to participate - How long would it take for someone to participate in voting decisions if this type of voting system was adopted? What happens if there are many decisions that use this approach?
Voting complexity - How complex is it for a voter to make a decision with this voting approach? Does the decision complexity increase as the number of voting options increases or when the proposals become more difficult to read and compare?
Scoring - High suitability is good (Score - 5). Low suitability is bad (Score - 1).
Single selection decision suitability
Description - Decisions that have multiple proposals but only a single proposal can succeed. Single selection decisions have a number of potential use cases:
Taxation amount - The amount or percentage that is charged in each transaction.
Number of validators - Staking rewards could be limited to a certain number of validators to balance decentralisation and network performance. Voters could determine what that optimal number of validators should be.
Block time & size - Time between each block being made and the size of blocks being stored on-chain.
Security parameters - Any parameters that help to secure the network such as rate limiting or voting thresholds.
Token supply - The amount of coins that exist in the network.
Inflation rate - The rate in which new coins are released into the network for people to use.
Lock up periods - Coins could be locked up for staking or other governance decisions.
Participation & usage rewards - The amount of rewards people receive for doing certain actions in the ecosystem such as voting.
Funding process parameters - Examples could focus around the duration and length of certain phases and any voting thresholds.
Maximum score - 5, Very important. The examples provided are not exhaustive and just help to highlight some of the decisions that might be relevant for a single selection decision. It is fairly likely that a Web3 ecosystem could have multiple single selection decisions that it needs to handle.
Scoring questions
Accuracy & expressiveness - How accurately can these types of voting systems gather peoples exact opinions and preferences? Are voters able to accurately express themselves in their vote? How accurate is the outcome?
Time required to participate - How long would it take for someone to participate in voting decisions if this type of voting system was adopted? What happens if there are many decisions that use this approach?
Voting complexity - How complex is it for a voter to make a decision with this voting approach? Does the decision complexity increase as the number of voting options increases or when the proposals become more difficult to read and compare?
Scoring - High suitability is good (Score - 5). Low suitability is bad (Score - 1).
Multiple selection decision suitability
Description - Decisions that have multiple proposals to choose from and multiple proposals can also be selected. Multiple selection decisions can have a number of potential use cases:
Priorities - There are many priorities that an ecosystem might want to focus on and the community can choose to focus on as many of them as they believe is suitable.
Ideas - Many ideas can be executed to help with addressing different problems and opportunities. Communities can select and work on multiple ideas at the same time.
Contributors - Many contributors are needed to execute ideas in a growing ecosystem. A community would be able to select multiple contributors to help with maintaining and improving the network.
Delegated representatives - Voters could delegate their voting power to many different people across the ecosystem. Each delegated representative could have different areas of expertise and knowledge.
Budgeting - Different funding areas could be budgeted for through a community decision.
Maximum score - 5, Very important. The examples provided are not exhaustive and just help to highlight some of the decisions that might be relevant for a multiple selection decision. It is fairly likely that a Web3 ecosystem could have a range of different multiple selection decisions that it needs to handle.
Scoring questions
Accuracy & expressiveness - How accurately can these type of voting systems gather peoples exact opinions and preferences? Are voters able to accurately express themselves in their vote? How accurate is the outcome?
Time required to participate - How long would it take for someone to participate in voting decisions if this type of voting system was adopted? What happens if there are many decisions that use this approach?
Voting complexity - How complex is it for a voter to make a decision with this voting approach? Does the decision complexity increase as the number of voting options increases or when the proposals become more difficult to read and compare?
Scoring - High suitability is good (Score - 5). Low suitability is bad (Score - 1).
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