I have been having some thoughts recently over SEFI governance and in particular the quorom. There is a great data set available from Pancakeswap. Similar to SEFI, they don’t have validators voting and are dependent on the token holders to vote.
Have a look at these examples and consider we have recently lowered quorom to 25%
218m circulating supply of which a total of 165m is staked and can vote.
Recent proposal to add a pool saw 1m cake vote (~0,6% of eligible CAKE).
Recent proposal to adjust farm rewards saw 5.6m cake vote (~3,3% of eligible CAKE)
Recent proposal to adjust cake emission by 40% (the most significant proposals to ever hit governance) saw 22m cake vote (~13,3% of eligible CAKE)
Now one could argue that the SEFI community is closer and votes more actively as a result, but apparently, that isn’t enough.
Some food for thought? I will let it up to others to discuss the implications of this data and how it could be interpreted for the future of SEFI governance.