I am a newer delegate who started participating mid-way through the initial 6-month incentive window. Obviously, Iāll have some biases because of that, but Iāll try to keep that in check hereā¦ Just fair disclosureā¦ some thoughts below as a newcomer:
I strongly agree with others that the the metrics should be reset every 6 months. My understanding is the threshold is 70% participation - so anyone entering this 6 month window is effectively locked out of rewards as the highest youād get is 50% (Just reasonably assuming similar HIP activity each period). That will only compound as time goes on, and is a centralization factor keeping it cumulative from the start will just lock out new entrants as time goes on.
As I typeād that paragraph out, Iād probably go as far to say Iād vote against it if the threshold wasnāt reset each 6 months. Again, obviously I have the bias as Iād be one of the people locked out because of that, but looking past thatā¦ this would just block out new entrants too much as the HOP DAO matures.
I think adding some type of multiplier for those who have been delegating in multiple incentivization periods is totally fair and reasonable, as we would want to incentivize long-standing delegates. However, Iād warn that this creates a centralization risk if the multiplier is too lucrative, and great care should be taken to what that looks like. Whether the ideal lies who knows ā but just gut reaction, tossing out a numberā¦ something relatively low like 1.1x the rewards, scaling maybe +0.1 every period, capped at 1.5x? Along those lines where it is a noticeable benefit but not overpowering.
A final food for thought type question for those out there. Is there any reason not to allow people to start their % of votes counting when they enter? Right now the percentage threshold basically creates a limited-time entry window for this program, as if your not participating within the first 1/3rd of the period your going to be mathematically removed from incentive payouts. Maybe this adds unnecessary complexity, but given the relatively small amount of HOP this seems overly punishing. Plus, if you enter say 3 months late your already missing out on 3 months of rewards anywayā¦ so your already being āpunishedā by losing half the incentives anyway.