COZ has presented a proposal titled “Decoupling Council Depraved From GAS Distribution,” aiming to modify the most up-to-date GAS allocation system for NEO holders participating in Neo Council elections. The proposal, submitted by COZ CEO Tyler Adams, addresses concerns about voter incentives and Council member engagement raised all thru the most up-to-date Centre Point community meeting.
The inducement for the proposal is that it is for the time being very sophisticated for contemporary individuals to stamp up for the Neo Council, and there might maybe be dinky risk of present individuals being eliminated. This has resulted in concerns of stagnation inside of Neo community leadership, apart from to a rising sentiment that sources might maybe possibly be better allocated to groups and initiatives extra actively engaged in evangelizing and rising the Neo ecosystem.
Fresh GAS distribution mechanism
Under Neo’s governance mechanism, NEO holders reveal their tokens to vote in 21 nodes that wait on on the Neo Council. The Neo Council’s activity is to withhold the network’s health and liveness. Council individuals vote on disorders impacting the disclose of the Neo network, just like blockchain parameters (i.e., charges) and electing other on-chain roles (i.e., oracle nodes, NeoFS ring nodes).
For the time being, every contemporary block generates 5 GAS tokens, disbursed as follows:
- 10% to Neo Council individuals
- 80% to NEO holders who vote for elected Council individuals
- 10% to all NEO holders, regardless of balloting activity
This constructing contrivance that voters supporting unelected candidates obtain minimal GAS rewards, that can discourage votes for contemporary or much less prominent candidates.
At the time of writing, the bottom-ranked member of the Neo Council for the time being holds 714,272 votes. For a recent candidate to stamp up for the Council, voters would ought to aloof be fascinating to sacrifice their very maintain GAS rewards in recount to wait on that candidate reach the mandatory threshold — for nonetheless lengthy it takes. Because this form of amount of NEO is required to succeed in that threshold, there’s no guarantee this can ever be done.
As a result, it becomes successfully inconceivable to vote in a recent candidate to the Neo Council with out the make stronger of whale-like entity— and there might maybe be now not any fundamental risk to the current 21 individuals of being voted out.
Proposal dreams
The main goal of the proposal is to realign GAS incentives to help broader participation and decrease Neo Council member complacency. Adams notes that the most up-to-date system depends on entities like Neo Global Pattern and the Neo Foundation for protocol changes.
By decoupling GAS rewards from Council member noxious, the proposal is aimed at:
- Encouraging votes for a wider range of candidates
- Promoting full of life governance participation
- Bettering the dynamism and responsiveness of the Neo Council
Neighborhood engagement
The proposal is start for dialogue on GitHub, and community individuals are impressed to rob part by offering solutions or endorsing strategies. This collaborative means is supposed to refine the proposal thru collective enter.
Enthusiastic readers can join the dialog on the below thread:
https://github.com/neo-mission/proposals/pull/197
