Activate the Ability to Proxy Vote (Delegation) within Standing Parties
Thoughts:
1. Active participation in the community governance takes up significant amount of resource (time, mental capacity, and manpower). It is essentially a full time job.
2. ANO principal(s) can participate directly or delegate the job to an employee.
3. ANO principal(s) active participation means the principal(s) cannot spend their time building their business efficiently.
4. Hiring an employee solely for governance management costs significant amount of capital (especially at current price). Even if cost is not a factor, it takes a long time to onboard someone to the intricacy of our community priorities. That employee’s position is not permanent and replacing with another individual means significant loss in knowledge and experience.
5. While some ANOs are good at business development, some good at technology implementation, others are good at tackling governance issues.
6. We already have delegation of vote in the community governance documentation. Why not activate that clause and proxy vote? This allows ANOs like LayerTech to delegate our voting weight to couple ANOs who are good at governance.
Impact on our community:
1. Effective proxy vote system allows more productive division of labor so ANOs can focus on what they are good at instead of having our attention divided in 10 different places.
2. Few ANOs who have the expertise and time commitment to lead the governance effort will be given the authority as representative of supporting ANOs. This mean less time spent asking the entire community participate in every decision large or small. With minor decisions, those representatives can run with what they think is best. With important decisions, the representatives will naturally check in with their support base before putting commit to any positions.
3. Each representative can decision how interactive they will be with their support base to retain support.
4. If ANOs disagree with any decision made by their representative, they can withdraw their voting weight at any time. They can vote individually, shift voting weight to another representative, or become their own representative and ask for other ANOs' support.
5. Therefore I propose activating this capability right now.
@Tor Paulsen or another Guide can be tasks with keep track of the delegated votes and representatives on a spreadsheet that is public for all see. (until we have a more automated liquid democracy system in place)
6. I also propose we amend the governance document to eliminate delegation penalty and not allow the representative to delegate vote to a third party. Votes should only be delegated by the original ANO. This proposal is not necessary short term but it should be consider as part of larger governance documentation review.
7. I also propose adding in monetary incentive. The ANO delegating voting weight also voluntarily gives up x amount of FCT to their representative. (50 FCT? 100 FCT?) This gives monetary incentive to the representative. It also forces the ANOs to decide if the division of labor will yield higher return on investment than the monetary cost of delegating. This proposal is not necessary short term but it should be consider as part of larger governance documentation review.
8. Activating this capability will also significantly help our on-boarding effort of fct-holders as the new standing party. Not every fct holders will want or have time to participate in the governance. They can easily give vote to a community representative to streamline participation.