I get your idea and i was thinking about nearly the same mechanism for voting but abandoned it because i think it’s causing more trouble than it helps. In generally the problems i see are:
It’s resulting in something like “Pay for vote”
On a POS design these might work as they get interest for it, on a POW design i doubt it’s going to work.
In my opinion it would lead to less voting while the target should be more voting.
Who takes responsibility if something happens with the wallet meanwhile, like the Komodo case where funds had to be moved in the shortest possible time out of the agama wallets for example? In my opinion “frozen” funds would be at higher risks.
It could be missused by groups/people that hold large stakes, hold them for longer and could that way outvote and go all-in for their agenda.
what if several votes have to be made within 1 year, let’s say for easyness every 3 months is a vote.
If the voter has frozen his funds allready at first vote for 12 months on the second vote 3 months later there are 2 possibilities only:
- his vote now is only “worth” 9 months, decresing further with each vote.
- he can’t vote because he allredy voted in the first one and has no ZEC to lock again.
could this open doors for a strategy to buy large amounts of ZEC just for voting to gain more influence temporary and than selling these to avoid financial risk?
It would exclude maybe several other groups that could have interest in voting due their affilation but don’t hold ZEC or only smaller amounts.
The absolute pro argument is of course: The more you put in (freeze/lock) the more you show skin and the more voting power you should have which is a valid argument in my opinion. But there is a big chance that the negatives outweight this valid argumentation at the end. Just some thoughts and dangers i see.
This assumes that only founders, investors are shareholders of the ECC, but the truth is we don’t know who is a share holder in the ECC. I didn’t get an answer to this as well and the foundation itself has as well know idea who is a shareholder in the ECC. What if some employees are as well share holders, just as an example? It’s just logical to assume that Zooko is a shareholder too. How does your proposal adress such possible scenario?
Someone could argue if a for-profit status is the better option than a non-profit status for such task. As an european i’am absolutly sure that in europe a non-profit status has way more weight than a for-profit status, is way more thrustworthy and often choosen by the governments themself to get advice, discussion, whatever. I have no idea how it’s in the US, but i see no reason why it should be much different. A for-profit always leave the taste of “they are doing it for profit”, legitime but not as thrustworthy as a non-profit.
As said, just some thoughts …