The 1inch community has passed the proposal to "modify the DAO governance process to weaken insider voting rights."

2023-04-21 10:30:52
Collection

ChainCatcher message, the 1inch community has voted to approve the proposal to modify the 1inch DAO governance process. The proposal suggests removing the st1INCH(v1) voting and delegation strategy from the 1inch Snapshot space; changing the st1INCH(v2) voting and delegation strategy to use Unicorn Power instead of token balance; replacing the existing 20% weighted v1INCH strategy with a strategy that simulates UnicornPower power decay, where fully vested and unclaimed v1INCH will significantly weaken voting power; ensuring that v1INCH at the start of its vesting contract has equal voting rights of 1:1 with st1INCH at the start of a 2-year lock-up period; and raising the requirement for creating Snapshot proposals to 100,000 voting weight (currently 25,000). (Source link)

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