Hi all!
I wanted to open a discussion on the current state of SKALE governance participation and get everyone’s thoughts on a potential change to our voting structure.
The Current Situation Right now, voting is restricted to staking wallets. The logic behind this is sound: it aligns incentives with long-term commitment (the 2-month lock-up) and protects the network security. Specifically, it stops a bad actor from buying up a large supply of liquid SKL just to swing a vote for a short-term gain (“flash attacks”).
However, the downside is that it creates a high friction point for participation and results in less community participation and doesn’t enable smaller non-staked holders to have a share of voice in governance. There are likely many genuine community members and holders who want to voice their opinion but aren’t currently staked.
The Question Is there a middle ground where we can expand voting access without compromising security?
Potential Solution: Weighted Voting I’m curious if the community would be open to a system where any token holder can vote, but we apply a “weighting” system to protect long-term alignment.
- Liquid Tokens: Get 1x voting power.
- Staked Tokens: Get a multiplier (e.g., 1.5x, 2x or 3x voting power) to reflect their commitment to the network security.
The theory is that the multiplier would make it too expensive for an attacker to buy enough liquid tokens to override the staked majority, while still allowing the broader community to participate in governance.
I’d love to hear your feedback:
- Do you feel the current staking requirement is a barrier to engagement?
- Do you think a multiplier system (stakers getting nx vote power) creates enough of a security buffer?
- Are there other risks to allowing liquid voting that we aren’t considering?
I’d love to hear your thoughts! If we can get enough quality feedback and support, we will push to a proposal to the forum and then a vote.