Dear community, unfortunately, we can no longer support BalancerDAO with our voting power.
BalancerDAO has decided to revamp its Governance and implement a curve model for voting using veBAL.
This model has become popular across multiple protocols as it brings more stability and incentivized participation in governance. Based on my opinion is a good step to improve governance, but it’s not a perfect system. I believe that when a system excludes any group from governance, it needs to evolve.
At the moment, we have been excluded because we cannot swap BAL tokens for veBAL within DPI as it will change the passive nature of the products.
The good news is that BalancerDAO has been pretty conservative, and the maximum lockup period is only a year; therefore, we can expect that they will be considering some changes in the future.
If you have any questions regarding Index Coop metagovernance, feel free to post below or contact any of the GovNest representatives.