Since Fund10, Minswap is registering LP Ada to participate in Catalyst voting.
The dex holds a lot of voting power and I don’t like the fact that they do a filtering process to keep only 50 proposals. I think it’s a biased system. I am in crypto to remove the middle man, not to add one in a DAO voting. I don’t know who is participating in the filtering, and what their interests are. The fact is that none of the Winriders proposals are included in the 50 proposals you can vote for.
So Wingriders could register LP Ada to be able to vote in Fund12, and try to propose a better and fairer system than Minswap.
Yes, WR not allowing LP to vote with their deposited ADA is a big problem, if the project continues to plan for catalyst proposals.
I could not vote for any of the proposal in the current round, while the competition (e.g., Minswap) has already a solution at hand.
That Minswap is prefiltering the proposal is bad (but hey, their LP would most likely not vote for WR proposals anyway).
I support WR to implement a catalyst voting mechanismn, best without any prefilter and with individual voting power for the LPs (if possible).
Thanks for bringing this concern into the community portal
Hiya. the team is definitely aware that others have the functionality built and perhaps we can see something similar on Wingriders in the coming rounds. It can take considerable dev resources (away from normal platform operations) so bringing here for community weigh-in on potential designs is a great step. Cheers.
While we’re on the topic of Catalyst, voting is still open until early UTC on Thursday Feb 8.
Registered Riders can find all WR proposals with ease by searching for “WingRiders” on the Catalyst Voting app! https://projectcatalyst.io/funds/11
On-Chain Launchpad V2: Including Pro-Rata, Vesting, and More: Fair and transparent token launches with new pro-rata schema extension (and more).
Decentralized Batching Agent [F(r)ee For All]: Open-source means opportunities for cross-Dapp collaborations, attracting more liquidity and DEX activity.
Chained TurboRequests: Fewer and faster transactions increase overall chain throughput
Open-source StableSwap Contracts: Accelerating Cardano DeFi ecosystem build-out with emphasis on safety and security.
Hi @Yvy0M n @krebsmenschen !
The team is aware of this discussion on the intersect between WR platform governance and Catalyst, and appreciates the both of you for looking to tackle it. Team also provided some clarifying updates that expands on my initial response.
An assessment of WR solution for Catalyst voting was completed and actually, this team can set it up within a few epochs. But given that only half of the platform’s TVL would count (whereas successful Catalyst proposals require 150+ million ADA votes), the idea is that Rider community will wait on the optimal circumstances to implement the solution in a way that can maximize our vote influence.
That said, the team continues to monitor the situation and assured that implementation will be revisited on an ongoing basis. Once some conditions present, such as platform TVL boost potentially through initiatives like new launch pools and open-source collaborations, it becomes more practical.
I’ve also made note of your concerns on current solutions that lack transparency and that have inherent biases. Personally, if our current solution for stakeable ADA pools is anything to go by, then a future WR solution may iterate in a more principled way.