[Discussion] Vote veCRV modification on L2 or veCRV delegation for small veCRV Holder

Proposals
#1

Summary: Problem of Gas cost for small veCRV holder and veCRV dilution

Describe what this proposal is about

Abstract: Small veCRV holders doesn’t have an impact on votes, only whales have an impact on Curve Governance decision.
Small veCRV holders are paying a lot of gas fees for voting.
If small veCRV holders doesn’t vote, their veCRV power is reducing and they are losing fees on 3pool rewards.

A short description of the proposed change.

Motivation:Propose change could be :
-vote on layer 2 with fewer gas fees e.g. OMG or Matic Network (same ETH public key)
-vote delegation on selected people (like COMP,UNI, BZRX…)
-no penality for veCRV holder below 5000 CRV

Explain why you think this proposition is worthwhile.

Specification: Delegation to a specific wallet or L2vote or no penalities for lack of vote

Technical details if applicable

For:

Reasons why this proposal should be voted for
DeFi is heavily centralized according to this research paper Decentralized Finance , Centralized Ownership.
If small veCRV holders doesn’t vote, they will be continuously diluted and the governance will be heavily centralized.

According to this study (CRV token distribution), 20wallets have 89% of veCRV token
Against:

Possible reasons why this proposal should be voted against

Poll:

Post a link to your proposal if it’s already been created

5 Likes
#2

the team is looking at upgrading aragon to support l2 style gas free voting. may be a while but its on the docket.

2 Likes
#3

Thanks for your answer

#4

Currently, some votes are signal votes. These are signed by the veCRV holder, but they don’t cost gas fees. There’s still a clear immutable record of which accounts voted for which proposal. So I confess that I don’t understand why some, perhaps less important voting happens with signals and other (full?) votes happen with gas fees.

If the signal votes are NOT accurate, then why have them at all?
Alternatively, if signal votes ARE accurate, then why is it necessary to pay gas fees for full votes?

1 Like