Spartan Council Stability & Liquidity

SIP
#1

Abstract

The current implementation of SIP-93 introduces instability to the composition of the Spartan Council, with frequent changes due to vote swings. These changes may occur throughout a SCCP voting period. To address this instability, we’re introducing a council lock for the duration of a Council Epoch. To address the loss of liquidity in democracy, we’re introducing the ability to withdraw WD support without impacting the council composition, but diluting voting power instead.

Specification

Council Locks

Within a Council Epoch, the Council composition is locked.

Liquid Democracy

Throughout a Council Epoch, Synthetix holders may signal disagreement with their elected council member. When signaling a disagreement, the Synthetix holder’s WD share is withdrawn from council members vote power.

Quorum - you still need a supermajority participation for a decision to be made.

(N/2 + 1)

Voting power may be diluted by the liquidity of agreement.

Vote power N = 1 - (withdrawn WD / total Council member’s WD)

2 Likes
#2

ohh man that’s a beautiful idea honestly… Is dissolution still necessary in this case? I mean… one could imagine that not really… not anymore since the dilution is a form of dissolution.

2 Likes
#3

We still have epoch elections as per previous SIP, so there is no dissolution per say, but on new epoch elections council composition may obviously change. But there is no dissolution throughout an epoch, just dilution.

#4

I can see this working with the following conditions:

  • SCCP votes are timed (24h)
  • There can be at most 1 SCCP vote in parallel
  • Voting power for an SCCP vote is taken at the end of the vote
  • Votes only pass if the total voting power meats the N/2 + 1 rule
1 Like
#5

After an exchange with rubberduck, the preferred solution is to have voting power adjustable only on an SCCP basis, so for the next SCCP in the same epoch, the voting power for all members is back to 1.

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#6

I believe we might also need an SCCP changing the election period start date, previously set on the 1st of each month, to 7 days before the 1st of each month, making it feel more natural for council members to be serving “per month” and not overlapping into the 7 day election period.

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#7

I think that is a reasonable change, we just need to line that up with the next epoch. I guess in principle we could continue with the current council and have a new election in the last week of Jan for the second epoch. This would deviate from the SIP but I feel like discord consensus would allow for it and reduce a lot of overhead.

1 Like