Change in Bribe Voting Mechanism

Magpie 3. Community Ideas
1

Hi Magpie Fam,

Another idea come across my mind, been watching how’s bribe work since it launched and it comes up.

As for now, vlMGP holders are freely to decide which pool (and in what %) to vote. Such mechanism is good in the way it provides rights, freedom & respect users as “voter”. However, it will results in vote splitting.

If you have noticed, there are votes with several thousands or even millions to various of pool. This is not an efficient way to fully utilized all the veWOM on our hand. We have to admit that, we do not own highest voting power like our opponent now, and hence we are not allow to waste every single vote power.

So here comes to my suggestion:

  1. Weekly Governance Vote on Snapshot to determine which pool/pools to vote in what percentage/ratio, for coming week.

  2. Then let the Magpie team vote on behalf of us according to the Governance Vote result.

  3. Magpie team to come out with at least 3 vote options for the best of us, and clearly explain why they think these are the best options.

  4. The benefit of such mechanism is: we following majority and without waste of any single vote power.

  5. The drawback is: Low vote rate in governance vote.

Please kindly share your thoughts, thanks.

2

Hey!

I concur with your concept, however, I acknowledge that users may opt to vote for a specific pool to attain a higher APR% or obtain certain tokens as incentives. What if we let users delegate their vote to Magpie? A pool where users delegate their votes and the Magpie team distributes them.

This aligns with your vision while also giving users the flexibility to choose where to cast their vote. Over time, the Magpie team may introduce features that reward users for delegating their vote, such as fee waivers, etc.

3

well, your suggestion could also be one possible way to implement this. On top of this, I would suggest by default it is 100% delegate to team unless user decided to change it.