Title: Burn Unused Good
Author: Oliver Montes
Status: Stage 2
Summary: GoodDAO is facing a situation where a large amount of Good governance tokens are held by holders who have never used their voting power, making it difficult to define a representative quorum for decision-making. This proposal aims to address this problem.
The proposal involves burning the Good tokens that have never been used in any voting. An unused Good is defined as one that has never been used in a GoodDAO vote. The burning of unused Good will take place at regular intervals to avoid the accumulation of inactive Good.
The amount of Good to be burned at each interval could be determined in different ways: the total unused Good at the time of burning could be taken, or a fraction of them could be burned, determined by a formula that takes into account the total amount of Good in circulation along with the amount of Good in use. The exact formula will be determined in a later proposal if this one is approved in its current stage.
It is expected that this proposal will incentivize Good holders to use their voting power, which in turn will improve the representativeness of decisions made by GoodDAO.
Motivation: Low participation can hinder the approval of proposals, even when they are beneficial for the community. Burning unused Good can increase participation and ensure that decisions are effectively made.
Proposal: The Gooddollar DAO will burn unused Good in the agreed manner to reach an agreement on the quorum required to approve proposals.
Justification: The lack of use of Good governance tokens by many holders makes it difficult to define a representative quorum and reduces the effectiveness of the decision-making process in GoodDAO. Burning unused Good will incentivize holders to use their voting power and increase the representativeness of decisions made by GoodDAO.
Implementation: The implementation of this proposal will require the creation of a smart contract that identifies unused Good and burns them according to the agreed formula. An audit of the contract will need to be conducted before implementation to ensure its security. In addition, clear and effective communication with the GoodDAO community will be required to inform them about the implementation of this proposal and its implications.
Conclusion: This proposal aims to address the problem of the lack of use of Good governance tokens by many holders, which reduces the legitimacy of decisions made by GoodDAO. Burning unused Good will incentivize holders to use their voting power and improve the effectiveness of the decision-making process. It is expected that this proposal will be seriously considered by the GoodDAO community and thoroughly discussed in governance forums before implementation.
The process can be fluidly considered by dividing it into 2 phases:
Review: A review of the draft will be conducted to ensure all requirements are met and the rights of Good holders are respected.
Discuss proposal: A debate will be opened in the Gooddollar community to discuss the pros and cons of burning unused Good.
Establish quorum: Once the debate is finished, a more representative quorum will be determined as interest in participation increases.
Voting: A vote will be opened for the Gooddollar community to decide whether to burn unused Good to reach the quorum.
Communication: Communication with the Gooddollar community will be required to inform them about the implementation and effects of burning unused Good.
Implementation: The implementation of this proposal will require an update to the Gooddollar smart contract to allow for the burning of unused Good.
I hope this work is well developed in form and time. It is the first time I have reached this level of work. Thank you!