Andy Hall
@andyhall
web3 governance and democracy both grapple with getting people to vote. For @a16zcrypto, Ethan BdM and I explore how projects could reward people for participating in a way that would be hard in the physical world but is easier with blockchain… https://a16zcrypto.com/paying-people-to-participate-in-governance/
2 replies
0 recast
5 reactions
wutwut
@wutwut
Big fan of the reverse Dutch auction, just posted about your article earlier didn’t realize you’re on here too. Would love to see this in action Also think you can improve the incentive design by offering rewards if the settling price is < X
1 reply
0 recast
0 reaction
Andy Hall
@andyhall
Nice! It would be awesome to see a project try it out so we can learn from the experiment. Can you say more on the rewards with settling price < X? Not totally sure I grok yet
1 reply
0 recast
0 reaction
wutwut
@wutwut
So as a project you have an incentive to spend as little as possible on rewarding voters otherwise the barriers to adopt this would be too high imo. So you ideally want to keep the settling price (X) low. To do that you could offer rewards to voters if X < your threshold. Example: donation to charity
1 reply
0 recast
0 reaction
wutwut
@wutwut
So you incentivize those voters that don’t need a financial incentive to vote but that care for this reward to rally as many voters as they can to keep the settling price low.
1 reply
0 recast
0 reaction
Andy Hall
@andyhall
Ahh that's super interesting. Yes, I like that. Hadn't thought of that. I'd thought about some other community-level things you could do, like encourage people who don't want the reward to forego or donate it.
1 reply
0 recast
0 reaction
wutwut
@wutwut
Yeah but main thing would be to test the base model somewhere in practice. Some of the more solvent DAOs must be up for it, if just for the publicity
0 reply
0 recast
0 reaction
