Governance on Ponder

The team while designing the governance model looked into various existing governance mechanisms in existence today and attempted to gauge their overall success, failures, shortfalls and advantages.

Overall, Ponder team has decided to implement a less complex VE model meaning similar to the veCurve model but with additional features such as “RageQuit” to allow for end users to exit the lock-up period earlier with a consequence of slashing their rewards (potentially capital) at 10% rate to minimise manipulation of the system.

Ponder team has also decided to implement the Quadratic Voting instead of ve(3,3) model to reduce complexity and lower barriers to governance. Complex models, at scale, attract fewer individuals across the general public which will inevitably affect the number of token holders engaging with governance overall. It is in Ponder's best interest to keep the engagement level as high as possible. As such Ponder’s governance module will be live and accepting proposals from the community based on vePNDR tokens and the Quadratic Voting mechanism.

To push for engagement Ponder will introduce a VE model where it will be compulsory for stakers to vote at least once a month on a proposal of their liking to “claim” their rewards for participating in governance, any member who does not fulfil this obligation will forego their rewards for that particular month and the rewards that were forfeited will be put back into Treasury to be distributed amongst all other stakers who have fulfilled their requirements of voting on proposals actively.

Ponder does not believe in delegation as each individual who is a token holder should be upheld with the responsibility to engage with the platform and governance to push the platform in a direction that benefits everyone. Given delegation entices the model of “stake and forget”, we Ponder team have chosen not to allow for delegation within its governance module.