WHAT
We propose to update the current Governor contract to refer to the various Soft DAO distributors (see Launch Token Governance Proposal), in order to implement voting while vesting.
This means that community members receiving SOFT distributions can vote, even if the majority of their tokens are still in a vesting contract.
Additionally, this update enables the 2x voting power multiple on tokens in the relevant distributor contracts, as referenced in the initial SoftDrop proposal.
WHY
The current Governor contract adopted by Soft DAO was created prior to the existence of these distributors. Therefore, it does not reference any SOFT distributors when assessing on-chain for voting power — it only looks at the SOFT token contract.
This update is therefore necessary for Soft DAO’s governance to function in accordance with its intended configuration. Only distributors holding significant token quantities will be included as voting sources.
HOW
If this proposal is approved, voting while vesting will be activated by calling the setVoteSources function in the Governor contract. This will set the aforementioned distributors as voting source, enabling community members to vote with their unclaimed tokens.
Specifically, the proposal will call:
governor.setVoteSources(
0xf266195e1b30b8f536834303c555bd6aaf063f04,
0x7CCb139707d69571aF1a53C1EDa47165c8733F30,
0x1c4Fa9Ff73EEcF0b32DaE948a6aB9f716b39a754,
0xad8F05420F7d988CE63eb9bDeCCE86518fE59E07
)
to provide voting power through the following distributors:
- SoftDrop (
0xf266195e1b30b8f536834303c555bd6aaf063f04) - Launch Supporters - Timelock (
0x7CCb139707d69571aF1a53C1EDa47165c8733F30) - Launch Supporters - Pricelock (
0x1c4Fa9Ff73EEcF0b32DaE948a6aB9f716b39a754) - Early Dev Bounties & Ops (
0xad8F05420F7d988CE63eb9bDeCCE86518fE59E07)
Tokens allocated to a beneficiary within one of the relevant distributors will only provide two votes per token so long as the tokens remain unclaimed. Once claimed, tokens held directly by a beneficiary will provide one vote per token.
Several distributors holding small numbers of tokens (< 1 million SOFT) will not be included as voting sources to reduce future voting costs (Each distributor or smart contract listed as a voting source increases the total cost of voting on-chain).
Those DAO members most interested in long-term governance should claim tokens at least once to activate their voting power and then keep their remaining SOFT tokens in the distributors to preserve their 2x voting power.
Note that https://www.tally.xyz/gov/softdao may not show voting power from these distributors correctly. We’re discussing this with the Tally team to look for solutions.
As always, community feedback and discussion is encouraged.
Relevant Links:
Soft DAO Governor Contract:
Launch Token Governance Proposal:
Soft DAO Governance Contracts Explainer:
