The purpose of ADA rewards distributed to voters who participate in catalyst voting is to encourage participation in governance. In that spirit, ADA rewards that Minswap receives for voting in Catalyst should be passed through proportionally to wallets that voted in the Minswap governance vote for catalyst proposals.
I propose that 10% of the ada rewards should go to the DAO for POL, an additional 4% of the rewards should got to Minswap Labs to compensate them their efforts enabling the vote, and 1% should go to Elder Millennial for his extraordinary efforts leading the work to filter the proposals down to 50. The remaing 85% should go to wallets that voted in the minswap governance vote. 92.7M MIN voted. A wallet voting 1% of that MIN should get 1% of the remaining 85% of ada rewards.
that’s a no brainer to me yes
I’ve had a couple of additional thoughts about this.
Ideally it would be great for Minswap to just send ada directly to the wallet of people who voted. No real need for something like dripdrop whith a claim process and extra overhead. Just subtract the transaction fees needed for sending from the distributed reward.
However, that presents the problem of what to do with wallets who are due less than the minimum transaction fee of about 1.5 ADA. A couple of ideas…
- everyone gets at least the minimum that can be sent and the calculation is done such that sending the minimum to everyone just means that there is less to send to whales.
- rewards only go to those who are due more than the minimum that can be sent. All those tiny rewards that won’t be sent stay with the DAO as a part of their percentage of the entire pool (don’t increase the DAO’s share… if the “tiny rewards” add up to 4% and the dao is due 10% then 4% comes from the unpaid rewards and 6% from the remaining rewards)
- get fancy like the new typhon wallet feature which allows a multi-sig transaction that doesn’t require the minimum transaction fee.
Finally, all of this proposal and comment are meant as general ideas for Minswap Labs and DAO to draw from. It isn’t intended as a specific blueprint to be followed, rather as directional guidance that indicates that Minswap holders support “some plan in the spirit of this proposal”