This proposal aims to authorize one-time revotes for failed FIPs(Frax Improvement Proposal) that have surpassed the quorum following a cool-down period. The following cool down periods are proposed:
- Participation is less than 2x the quorum: 30 days.
- Participation is greater than 2x and less than 3x the quorum: 60 days.
- Participation is greater than 3x and less than 4x the quorum: 90 days.
- Participation is greater than 4x and less than 5x the quorum: 120 days.
- Participation is greater than 5x the quorum: not eligible for a revote.
If a proposal is rejected twice, it cannot be proposed again under any circumstance.
Among 7.98M voting cast, 99.76% is already on "For" side. And that votes for the proposal is done by just 27 voters.
Top 1 and 2 voters could decide everything I guess.
I think most of general smaller token holders do not care much about this voting if there are not any rewrds for voting.
Are we really in the frontier time to make our world and financial sector democratized and/or decentralized?
Still the importance of leaders and top directors is gettting bigger and bigger even in this DeFi world with this low voting participation and whales' high governance power.
There is an another case. Recently Polygon did hardfork just with just 15 governance votes,
Polygon made the important hard fork with 15 voters' decision. No discussion and no gathering public opinions.
Several guys decided this important change inside thier room.
And this Polygon and many chains have blamed others about governance and VC backed money. And most of individual investors just talk about price and price.