IIP-38: Update Snapshot Strategy

title: Update Snapshot Strategy status: Proposed author: Noah Citron (@ncitron) discussions-to: https://gov.indexcoop.com/t/iip-38-update-snapshot-strategy/1377 created: 2021-04-29

Simple Summary

Update the Index Coop snapshot strategy to include LP positions, unclaimed index, and delegated votes.

Abstract

This proposal will update our snapshot strategy to include index held within Sushiswap LP positions, Sushiswap LP positions staked in Onsen, and unclaimed index in the MVI farm. This proposal will also enable the vote delegation strategy on snapshot.

Motivation

Currently, our snapshot space counts index held in wallets, unclaimed index in the DPI farm, and index in a Uniswap LP position. The unclaimed index and Uniswap-held index were added to the strategy in IIP-009. In the spirit of continuing IIP-009's goal of ensuring that all stakeholders receive their fair vote, we should update our strategy to include the index within Sushiswap LPs and the MVI farm.

Additionally, we have seen an alarming lack in voter participation for many of our governance votes. Vote delegation provides a mechanism to alleviate this issue, by allowing inactive index holders to delegate their votes to community members that they trust.

FOR

  • Update our snapshot strategy to include index held in Sushiswap LPs, Sushiswap Onsen LPs, and the MVI farming contract and enable vote delegation

AGAINST

  • Do not update our snapshot strategy to account for the additional votes and do not add vote delegation.

Specification

Overview

Snapshot allows protocols to define their vote-counting strategy which determines what an individual address's voting power is. Snapshot has already built the infrastructure that will allow us to make these changes by adding additional pre-built strategies to our snapshot space. Links to the implementations of these additional strategies are listed below: Sushiswap Strategy Masterchef (Onsen) Strategy Delegation Strategy

Technical Specification

The implementation of the proposed changes can be viewed on Github here