ROOK vs. xROOK token voting weights

The vote for KIP-22 was a first for the Rook community in expanding the pool of eligible voting tokens to include xROOK staked within the platform.

Now that we’ve established this as viable from a technology perspective, the next question is one of fairness. Our historical practice has been to make ROOK the unit of voting. This raises the possibility that holders of xROOK may be disadvantaged in governance to the extent that (depending on the timing of their original stake) some xROOK have a value greater than one ROOK. Several in the community have commented on this disparity, and after discussing it at this week’s Governance Workshop, we’re hoping to gather more input from the community.

We’re working on gathering data around how many staked tokens this divergence affects, as well as the feasibility of establishing voting parity as a technical matter, and will report back on that in this forum. In the meantime, it will be important to get a sense of the community’s preference on this so we can guide our efforts appropriately. This is especially important given that there may be preferences we haven’t thought of - for example, one of the issues raised in the workshop is the possibility that xROOK should count even more than ROOK for voting purposes given the commitment they represent to the platform.

Do you believe that voting should be denominated purely in ROOK, or should each token (xROOK or ROOK) carry the weight of one vote? Or should they count for more? Is there something we haven’t considered? Please vote in the poll below or - even better! - comment in reply.

Thank you!

  • The unit of voting should stay 1 ROOK. xROOK votes should be reweighted to reflect that.
  • 1 token = 1 vote!
  • xROOK represents a commitment and should always have a higher voting weight than 1 ROOK
  • I prefer something different (please say what below)

0 voters

I think the most obvious solution is for 1xROOK to be worth it’s current underlying ROOK value in votes

2 Likes

Thanks for this - that does seem to be the consensus. Seems like this would take a small amount of dev time to make happen (snapshot makes it pretty easy to make new voting strategies like this).

Seems like this could be a good task to put out for a small community grant given how busy the team is - would appreciate your thoughts on that>