Summary
Introduce a gas reimbursement mechanism to incentivize active engagement and foster a more diverse and engaged community of delegates within the Interest Protocol.
Motivation:
The escalating Ethereum gas fees pose a significant impediment to active participation in on-chain governance within the Interest Protocol. Delegates are deterred due to increased costs, hindering the diversity and inclusivity of the protocol’s voter base.
Benefits:
- Encourages active participation, leading to more informed decision-making.
- Cultivates a diverse voter base, including various stakeholders and contributors.
- Retains top delegates, ensuring sustained growth and competitiveness.
- Maintains a manageable cost structure for delegates.
Specification:
If implemented we suggest the following procedure:
- Update the recognized delegate program to include gas rebates for all delegates who have 80%+ voting participation in that month
- Post updates on gas rebates inside the monthly RDP update
- Autosend gas rebates to qualified delegates
Next Steps:
- Initiate the gas reimbursement mechanism in the upcoming quarter.
- Periodic reviews to assess the effectiveness and adjust the mechanism if necessary.