With the introduction of dReps in Cardano governance, WingRiders is exploring how ADA held in liquidity pools can be responsibly represented in on-chain governance.
Currently, direct delegation of ADA from WingRiders liquidity pools to dReps is not supported. As an initial step, and to ensure that pooled ADA is aligned with the interests of the ecosystems it supports, WingRiders proposes to manually delegate ADA to dReps selected by the relevant projects or protocols. These are typically projects that own a significant portion of ADA in the respective liquidity pools or are the token-establishing entities.
As a next step, it can be considered to develop a native voting mechanism for dRep delegation, similar to the existing stake pool delegation voting system, enabling decentralized and transparent governance directly from the platform.
Initial dRep Delegations
If approved, the initial manual dRep delegation will be selected by majority liquidity providers in the LPs (Iagon, SNEK, etc.)
Any remaining ADA not associated with specific liquidity pools will be split equally between IAG and SNEK, unless other protocols or projects propose alternative arrangements until Phase 2 of dRep delegation voting is developed and launched.. This approach reflects the long-term partnership between WingRiders, SNEK, and Iagon.
Vote Details
Community members are asked to vote on the following options:
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Approve manual delegation of ADA to dReps
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Decline the proposal
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Abstain
