Sorry for somewhat spamming the governance forum.
I just wanted to share my thoughts on our governance system. We all know - as has been discussed in other forum posts - that we are never going to get anywhere unless we have a unique point of difference (USP) from the other major DEXes. We currently claim that our USP is true community governance, but we all know that’s not true.
So… my idea is that we drop the requirement for submitting a governance proposal to holding 0.001% of the WSE token supply, as opposed to the current 0.5%. This still represents 10000 WSE tokens, which at current swap price is nearly 300 USDT.
This would mean that anyone willing to put a few hundred dollars into WSE would be able to make a proposal - legitimate community governance.
However, we can’t just have everyone spamming proposals. So what we do is make it cost 10000 WSE to submit a proposal, instead of simply having to hold that amount. Now this WSE gets pooled, and paid out to wallets whose proposals are accepted! So not only can everyone participate, but you’ll get rewarded for positive contributions. It means not only is the community able to govern the platform, but they are incentivized to govern the platform.
It could create an entire governance ecosystem, where improving the platform becomes regulated and driven by the market. I’m not claiming that this would result in the best proposals being passed for the platform (although I suspect it would), but I am definitely claiming that it would give us a major point of difference and have the potential to attract a large user base.
Time for thoughts and feedback!
On another note, the search engine result for WhiteSwap is broken. The title and descriptions fields have been replaced by meta.main.title and meta.main.description respectively. Hope this gets fixed asap.