author: Matthew Graham (@Matthew_Graham)
This is for the purpose of executing metagovernance votes according to the current process.
Today, FLI metagovernance influence is not being used. As governance tokens lay idle within the FLI products, Index Coop could be utilising their voting influence.
This IIP proposes FLI metagovernance votes for Compound and Aave be delegated to the same multi-sig as DPI.
This proposal merely addresses how the Index Coop executes votes. The outcome of metagovernance votes would remain decided by INDEX holders.
Whilst liquidity incentives exist on Compound and Aave, the FLI products shall accumulate governance tokens. Index Coop can enhance its metagovernance influence by directing the voting rights of these governance tokens to the multi-sig address detailed above.
This is a carbon copy of the DPI metagovernance initiative and with an expanding FLI offering there will likely be many votes spread out across the FLI vaults. At the time of writing this is 1,060 votes. Although these governance tokens are not likely to remain within the ETH2x-FLI and BTC2x-FLI products. When there are many FLI products and each product has a bunch of votes, these votes can be consolidated to the DPI multi-sig and Index Coop captures its true metagovenance influence.
With Index Coop products to be listed on Aave and Compound in time, each vote matters.
This proposed change is a step towards the larger consolidated meta-governance vision being put forward.
Delegate FLI voting power to a multi-sig to enable Set-contributors to execute metagovernance votes in accordance with the current metagovernance process.
To implement this requires the following:
- INDEX multisig to delegate COMP and AAVE via the Governance module to 0x10F87409E405c5e44e581A4C3F2eECF36AAf1f92
- 2 of 3 multisig executes metagovernance votes according to the current 2 metagovernance process.
- Delegate other protocol voting power as needed. Such updates will be announced.
Delegate FLI products metagovernance voting rights via the Governance module to 0x10F87409E405c5e44e581A4C3F2eECF36AAf1f92.
DO NOT delegate FLI metagovernce voting rights.
Copyright and related rights waived via CC0.