The goal of the delegate incentive program is to attract and retain talented individuals that spend time discussing and voting on ways to improve Hop DAO governance. The DAO aims to have a large group of delegates with diverse backgrounds that actively share their perspective and consistently participate in governance. Since the DAO’s inception almost three years ago the number of participants has decreased and is likely attributed to the overall bearish market sentiment, the token’s performance, and the development timeframe for V2 also known as Hop Rails.
Looking at the most recent delegate incentive period there were only 6 delegates that qualified for rewards and the average rewards were roughly $300 usd (at that period’s Hop price) per delegate for that 6-month period. The goal of this thread is to simplify the delegate incentive program and continue to attract high quality participants.
Proposed changes:
- Get rid of vesting for delegate incentives
- Delegates have to include voting rationale in each individual snapshot and tally vote so that the rewards process can be automated in the future.
- Get rid of penalties and participation periods
- Create a new threshold of 50% voting and communication to qualify for base rewards
- Delegate that achieves at least 75% voting and communication will receive a 3x rewards multiple
- Leave 30k Hop minimum tokens delegated
For further context please review all previous delegate incentive program posts below.
Original Delegate Incentive Program Post
Any suggestions are welcome so please share your thoughts.
