Voting Vaults and Delegation
Voting vaults are smart contracts that allow any programmable logic to be used for allocating voting power to governance participants. Some example metrics include:
- Reputation or merit-based systems
- User protocol usage metrics
- User governance participation data
- Positions in DeFi protocols (staked assets, collateral, LP positions, etc.)
- Any other metric or combination of metrics
This gives the community complete modularity and flexibility over how to structure a DAO's governance framework.
You can assign all of your Voting Power in the protocol to someone else, and they can vote on your behalf. This is called Delegation. It's important that you select a delegate who is aligned with your vision for how the protocol should evolve, as your votes would be counted towards their selection.
This alleviates the issues of having to keep up with the multitude of discussions that happen surrounding the protocol, and having to interact with on-chain contracts for each decision that needs to be made. Reducing the governance load on each participant ultimately helps to reduce some of the friction and encourage higher levels of voter participation in governance decisions.