Reduce Proposal Quorum Threshold to 1% (IN FAVOR)
The quorum threshold to ratify a proposal at present is 4% of the circulating supply of $PUSH (~612k as of 27 May 2022). Here we propose to make an amendment to the Push Governance proposal ratification requirements, by reducing the quorum to 1%.
Quorum is a requirement that sets the minimum number of votes IN FAVOR that must be present for a proposal to get ratified. It exists so proposals can’t be shuttled through without a sufficient number of contributors casting votes.
At present, the quorum threshold to ratify a proposal is 4% of the circulating supply of $PUSH(~612k PUSH as of 27 May 2022). This threshold is defined in the Push Governance guidelines when it was launched in September 2021, here. However, 4% was kept, expecting a much higher level of community engagement.
Now, after promoting a good amount of proposals to Snapshot, we have a better picture of the engagement we can expect. Although most of the proposals in the past have met quorum on Snapshot, there was this proposal, that failed to meet quorum in spite of good engagement from the community.
Hence, by learning from the experiences of other DAOs who had to reduce quorum when not-meeting-the-quorum affected the decision-making of governance, we propose to reduce the quorum threshold to 1% (~ 153k PUSH as of 27 May 2022) as a preventive measure.
While this preventive measure ensures that most proposals are either passed or defeated, it really doesn’t affect the governance mechanism as the proposal still is there for 7 days so proposals that have gotten significant momentum will still be decided while lowering the quorum barrier will ensure that proposals that aren’t gaining traction still can be decided in either for or against.
If the feedback from the community is affirmative, this proposal would be promoted to the Discussion Phase and then to formal voting. If ratified, the quorum threshold percentage would be reduced to 1%. However, this proposal requires a 4% quorum to get ratified.