Last weekend two necessary, non-contentious votes failed to meet the 320,000 quorum threshold. This proposal explores a framework to avoid more failures in the future.
This is a non-technical proposal to help enforce a better voting structure for the DAO.
Aave governance benefits from the transparency of voting on-chain and using Snapshot; a growing number of delegates & voters have left us with valuable data sets and insights.
Using a table of on-chain Aave DAO votes, proposals, and lengths - we identified the optimal time to propose an AIP.
As a data provider and a delegate, we are happy to marry our two expertise to boost participation and ensure quorum is met.
Mandate that AIP votes can neither start nor end on weekends, unless an emergency. The proposed starting days are as follows:
- Mondays and Tuesdays for AIPs
These guidelines will ensure stronger predictability, coordination, and participation.
This is the first of a two-part proposal - with Snapshot recommendations coming with more data.
The following comments and replies have been used to inspire this proposal:
LDO Emission_Admin for Polygon v3 Liquidity Pool Failure
ARC. Strategy on sunsetting of Aave v1 - #13 by MarcZeller
ARC. Strategy on sunsetting of Aave v1 - #12 by EzR3aL
The following data was used to inform the optimal times:
Votes per day, broken down by block week (legend on the right)
This data shows that by descending order Saturday (3,296), Friday (3,261), and Thursday (2,513) are the most popular days for voters - independent of size.
A recent rise in week-end voting on Saturdays and Fridays.
This data shows, over the past two quarters the DAO has been voting near the end of the week - we hypothesize this is due to last-minute voting and a rise in end dates over the weekend.
The average vote per day is 1724 for the weekdays and 2325 for the weekend - while we don’t want to avoid the weekend altogether, it is best to avoid ending it on Sunday or Monday.
AIPs fail 2x as often when slated to end on the weekend vs. the weekdays, at 22% of the time; when a vote starts on a weekend, failure is even higher, with a 33% likelihood.
Voters’ behavior per day type, segmented by voting power.
This data reveals 84% of votes from Aave Whales (those with 10k+ voting power) have come on a weekday, representing 98% of the total votes.
The largest group of weekend voters are small (0-50) stkAAVE or AAVE holders, voting 36% of the time on Saturdays our Sundays.
We hope to collaborate with other delegates, service organizations, and the broader community to incorporate feedback and establish the best cadence for governance processes.
We will be publishing a follow-up proposal with recommendations / findings for Snapshot.
Copyright and related rights waived via CC0.