This post was originally published on digitalx
With the launch of the new guilds on The DLTA platform and the start of the distribution of $DLTA (The governing token for The DLTA DAO), we have instantiated a new Snapshot voting space.
This space allows for all $DLTA holders to start coordinating and governing The DLTA System.
Proposals for DLTA Snapshot voting will be first deliberated about on the DIGITALAX governance forum at gov.digitalax.xyz under The DLTA System category.
Anyone can propose a new vote to go to snapshot and express their thoughts and opinions across different key topics, including;
- Weighted staking distribution algorithm i.e. the structure of the algorithm will be laid so that the community can vote on its evolutionary influence for token reward distribution and appraisal activity
- New guild formation i.e. onboarding and launching new guilds on the system
- Whitelisted NFT staking addresses i.e. which NFTs should be whitelisted for staking on a guild for token rewards
- Whitelisted ERC-20 token reward distribution i.e. other tokens that the system should reward appraisers with and distribute
The first DLTA-IP (Improvement Proposal) vote is now live on the governance forum and will go to snapshot later in the week this space for all $DLTA holders and outlines an important parameter in the algorithm.
Every 24 hours that passes there is a normalised deduction across both active and non-active appraisers whereby there is a 7.5% deduction penalty across an appraiser’s weighting within the system if they haven’t appraised within the last 24 hours, and 2.5% if they have.
The proposal is for deliberating on the deduction penalties and how these should be adjusted— in order to reduce the threshold and promote a more diverse participation range. A number of options have been suggested for penalty deductions, and anyone can respond on the forum to make additional informed suggestions to be included in the Snapshot voting categories.
The first few months of The DLTA System was for experimenting and testing different insights across the algorithm, and now as we progress into more decentralised coordination, its really important that the community can directtly increase the fairness and accuracy of the weighting contract overtime. This will allow for more products to be built out on top of The DLTA, particularly core DeFi and NFT lending products that require substantial contextual and sentimental data.
More exciting updates to come soon as the enitre DIGITALAX ecosystem rapidly expands into 2022.
Support Us via our Sponsors