In order to take part in Cardano’s governance, DRep’s voting power is only considered from ADAs in stake pools.
I suggest that ADAs within WR should be delegated to an official DRep of our DEX.
This representative will vote according to the interests of the WR community after discussing decision-making issues in advance.
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One month ago, there were 72 DReps with >50k ADA voting power. 49% (35/72) were also SPOs, and at least one of them was a sitting member of the Constitutional Committee. Together, DReps in multiple branches represented 30% of active DRep voting power.
Last week, there were 72 DReps with >1M ADA voting power. 57% of these DReps (41/72) are also: SPOs (37), CC Members (1), and all three (DRep-SPO-CC) simultaneously (3). Together, they represent 40% of active DRep voting power.
A total of ₳523,930,000 is delegated to all 456 DReps. 92% of this voting stake is delegated to the top 72 DReps, of which 57% is controlled by these 41 DRep-SPO-CC members.
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Hey GPG!
Great post. Thanks for bringing up this topic.
At the moment, WR has no DRep and, as far as I know, there are no plans to have one.
I think that this could be implemented in the form of a DAO voting for all the liquidity pools, so we can get this implemented with almost “no effort” (low dev time required).
Then we can start a new discussion to implement a DRep voting feature for each liquidity pool in a similar way as we already do with SPO ADA staking voting mechanism.
PS.1: for reference, the current SPO ADA staking voting feature can be seen here: WingRiders and the docs can be found here: Voting for Stake pools | WingRiders docs.
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Implementing this would start to level the playing field when it comes to the larger drep players, currently top 3 Emurgo/Yoroi/yuta have 1.6 billion total ada delegated, the top 2 currently have gate jeeping authority as witnessed by the latest vote on the liquidity fund prop part 1. W/o their vote it wouldnt have passed, even with the majority of dreps voting for it. The ada currently sitting in lp’s should be utilized and voted on by the dao, as the founding member of usdm and as the minter of record for all Usdm, I would submit my drep id as a potential candidate for any usdm/ada pools.
I have shown my commitment to the community in a variety of areas and believe to be a person of good moral standard. I look forward to any questions or comments
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