I am following the topic from the beginning. I would like to thank you all for your time and efforts. Here are my two cents:
We are all disturbed by the behaviour of some huge PNG holders. Some of them have been so far malicious. We want to prevent any possible attacks that might hurt Pangolin in the future. Our community is not against whales. We just want to protect our DEX.
On the other hand we also want to help and protect small investors who believe in this project, while sustaining a functioning democracy.
I guess we need to think slightly out of the box to address the issues. Combining these two aspects I would like to suggest:
Dynamic time-weighted quadratic voting. This will result in every PNG being valuable as much as they contribute to the community.
There will be no minimum cap (or a very small amount if really necessary) per address to be able to vote, hence every PNG holder is motivated to contribute and yet not able to fully manipulate
Sudden transactions for possible manipulations will be fully eliminated
It will create less volatility
There will be no restrictions on staking/pooling. Free to withdraw/claim anytime.
This is the basic formula:
The voting power will be based on the quadratic value of total number of PNGs an account has and will be multiplied by the number of days (per day the multiplier will increase 0.001) it holds the PNG.
Holds 64 PNGs for a day.
√64 * 0.001 = 0.008 voting power
Holds 64 PNGs for a year
√64 * 0.365 = 2.92 voting power
Holds 1,000,000 PNGs for a day
√1,000,000 * 0.001 = 1 voting power
Holds 1,000,000 PNGs for a year
√1,000,000 * 0.365 = 365 voting power
Ceteris paribus, a whale has much more power as it should have and yet cannot dominate the decisions. Small investors are protected as long as they contribute to the community by keeping their PNGs.
In a perfect setting, airdrop PNGs should be eliminated from voting power but I do not think it is technically possible.
For liquidity pools, multipliers can be adjusted. AVAX-PNG pool contributors can get three times more, other PNG pool contributors get two times more.
I tried to address all the issues mentioned above in the discussions. Feel free to modify as much as needed.
Keep up the good work everyone.