Gitcoin

Intro

This Snapshot vote serves to determine whether or not to approve the adjustments to the voting thresholds as proposed in this proposal: https://gov.gitcoin.co/t/proposal-updated-and-new-lower-gtc-voting-thresholds-on-and-off-chain/17410

Details

This proposal is making amendments for a previous proposal that is seeing some technical difficulties with implementation.

Original Proposal Recap

Our initial proposal aimed to empower a broader range of GTC token holders in the governance process by reducing the dominance of large holders. The key points were:

• Lowering the quorum threshold from 2.5M GTC to 1M GTC for both on-chain and off-chain voting.
• Reducing the initial proposal threshold from 1M GTC to 150K GTC.
• Keeping the current time and duration for voting procedures intact.

Revised Proposal Details

Based on technical advisability, the revised proposal is as follows:

• Maintain Quorum Threshold: While the original plan was to reduce the quorum threshold to 1M GTC, we don’t want to deploy a new governor to make this change.
• Reduce Proposal Threshold: Lower the requirement to initiate a proposal from 1M GTC to 150K GTC, making it easier for a wider range of stakeholders to actively participate in governance.
• Maintain Current Voting Processes: The existing timeframes and procedures for both on-chain and off-chain voting will remain unchanged to ensure continuity and stability in our governance operations.