Minswap ADA Delegation Proposal: Voting Results

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Overview

Minswap recently held a vote on the ADA Delegation Proposal. The aim? To decide how to stake ADA in Minswap Liquidity Pools. The DAO had three strategies to choose from:

  1. Randomized Decentralization: This strategy involves creating a list of SPOs that meet certain requirements. The list is then randomized, and ADA in LPs is delegated according to the random ranking.
  2. Active Stake Pool Voting: This strategy also involves creating a list of SPOs that meet certain requirements. However, a second Governance vote is held where MIN holders can decide on the ranking of the SPOs. ADA in LPs is then delegated according to this ranking.
  3. Profit Maximization: This strategy involves creating as many MIN Private Stake Pools as needed for all the ADA in LPs to be staked there.

Voting Results

The voting process was straightforward. It used a single-choice system, and the snapshot was taken on 18th June 2023. The voting period lasted from 19th June to 3rd July 2023.

The results came in as follows:

  • Randomized Decentralization: This strategy received 100.28M votes, which is 67.57% of the total votes.
  • Active Stake Pool Voting: This strategy received 13.43M votes, which is 9.05% of the total votes.
  • Profit Maximization: This strategy received 34.68M votes, which is 23.38% of the total votes.

The quorum for the vote was 148.38M out of the required 25M.

What This Means

These results mean that the Randomized Decentralization strategy will guide the staking of ADA in Minswap Liquidity Pools. This strategy promotes fair and decentralized staking, which will contribute to the overall health and robustness of the Cardano network.

BKV Pool’s Participation

Our BKV pool (bkvpool.com) is a candidate for this program. We also voted in favor of the Randomized Decentralization strategy. We believe in the importance of decentralization and are committed to contributing to the Cardano ecosystem.

For more details about the proposal and the discussion around it, you can visit the forum thread.

Stay tuned for more updates and thank you for being part of the Minswap community and supporting the BKV pool!