This proposal aims to Increase the quorum from 10% of the total supply of veRARI to 15% of the total supply of veRARI.
Recently the amount of veRARI has dramatically increased thanks to the delegate launchpad programs and the delegation incentives program. This has increased the number of votes cast on RARI proposals.
While this is a good sign as it shows Rari governance is growing and becoming more active, it also can put the DAO in danger if the quorum is too low. A low quorum can allow malicious proposals to pass through governance using very few votes.
After the recent delegation campaigns, 4 delegates can now single-handedly reach quorum with their votes. It is important to raise the quorum to require many voices in the DAO to be heard before a proposal is valid. This will help protect the DAO and the protocol.
As the Rarible Protocol continues to be transferred to the control of the DAO the DAO must have safety measures in place to protect the protocol.
Currently, the quorum of about 10,000 veRARI is not sufficient to protect the protocol. A higher quorum ensures more votes need to be cast before a proposal is legitimate. Requiring more voters to vote will help limit the possibility of a malicious vote passing.
15% of the total supply of veRARI is a more appropriate quorum for the new state of the DAO. This increase will serve to protect the DAO as we gain more responsibility over the protocol. Additionally, raising the quorum will serve to accommodate the recent increase in participation we have seen and will continue to see as the DAO grows.
Quorum: the minimum number of votes that must be cast on any proposal to make the results of that proposal valid.
To implement this proposal the DAO will change the quorum from 10% of the total supply of veRARI to 15% of the total supply of veRARI.
This proposal would follow the normal governance timeline with the quorum being changed after a successful Tally vote.
There is no cost associated with this proposal