Comment on page
Conviction Voting
To signal support and allocate funds
Conviction voting is the heart of a Garden. It allows folks to signal their preferences continuously rather than forcing them to “make a decision.” From the perspective of a community member, this is as easy as just showing up and supporting the things you care about.
Under conviction voting, the majority doesn’t need to achieve consensus on everything. As such, we get real proportional representation. Community members can propose and support things they care about without fear that a whale will vote them down. In fact, there is no downvoting. People with large stakes and strong opinions can’t suppress the community. Rather than relying entirely on majority rule decision-making, resource allocation decisions are regulated by staking on proposals to accumulate conviction over time. This allows resources to be allocated fairly while minimizing the political and divisive process of coming to consensus on a single course of action.
Proposals simply need enough support to pass – the fewer funds they ask for, the less support required. This means there’s a real sense in which everyone has a voice. The only thing token holders have to think about is whether or not they support something. That’s it.
Under this framework, many divergent initiatives can be proposed and run in parallel. This allows the DAO to explore, experiment, and innovate quickly and seamlessly. If an experiment works, a larger proposal can then be submitted.
One underrated benefit of this is that it allows the DAO to grow as a headless brand, iterating through cycles of divergence and convergence, and continuously reflecting the preferences and interests of token holders (a true living organisation!).
In sum, by giving small token holders the agency to contribute, Conviction Voting helps lay the foundation for a fiercely loyal community, solving the problems associated with governance attacks, low participation, and the overall inability to effectively prioritise and decide when there are many potential options all competing for consideration at once.
Last modified 2yr ago