An Update for Governance Rules

This proposal seeks to expand governance rules and make some adjustments to the current voting weights. Our latest collaboration with Sunder Protocol will allow BoringDAO users to extract full value of governance tokens. Community users can participate in governance while earning yield in an efficient manner.

In particular, 1 BORING will become 1 eToken (income token) + 1 dToken (governance token), and both BORING and dToken will have voting rights. Participants can redeem BORING back at any time, by combining their dTokens & eTokens at a 1:1 ratio. Therefore, we propose to adjust the current voting weights to further include dTokens issued by Sunder Protocol.

Specification:
The new governance: voting weights = BORING token balance x 50% + (total pledged BORING balance in oBTC, oLTC, and oDoge Tunnels + Tunnel unlocked BORING balance + Tunnel locked BORING balance + total staked BORING balance in Farm + dTokens issued by Sunder Protocol) x 100%

For example, if you have 10 dTokens issued by Sunder Protocol and pledged 10 BORING in oBTC Tunnel. At this moment, you have 20 BORING voting weights.

If the new governance rule is adopted, dToken holders/community will be able to share their voice and engage in governance participation. Users who sunder BORING can keep their voting rights while enjoying yield aggregation revenue.

2 Likes

This is cool! Great to have these features adding value to BORING tokens.