AIP 32: Delegated voting implementation

Summary

Goal is to create the opportunity for the stakers to delegate their voting power to any other ETH address.

Specification

That should be an option for all already staked addresses to appoint any other ETH address as the delegate. It could be implemented on activate AirSwap governance page on the button “create delegate” with the options in the pop-up.

There should be two options when you create the delegate:

  1. For delegate to receive the claiming point and to be able to claim rewards to delegate address (with the delegate reward fee specification if needed).
  2. For the owner to receive claiming point and be able to claim from owner address.

Rationale

The reasons someone would like to delegate his voting power to someone else are:

  1. You don’t want or you are not able to take part in each voting cycle but you don’t want to miss the rewards.
  2. It is boring for you to read every AIP or you are new to crypto and you vote randomly each time, you can delegate your voting power to someone who takes active part in AirSwap development each day.

To stimulate delegates to do this work (researching and voting) on behalf of owner (owners) the delegate may receive the ~1-5% of the owner (each owner) claimed reward amount. The amount of reward that owner decided to share with the delegate could be also specified at the moment of delegate creation.

The reason someone would like to delegate his voting power to himself but to another address:

  1. The main benefit is security. If you decided to become a long term AST holder and you would like to stake you AST and save them at the cold wallet but you actually don’t want to miss the governance activity rewards too.
    So it would be great to have the option to vote (and claim) from the dedicated address.

Problems

Because AirSwap is strong and long term development project some investors could decide to stake AST from their cold wallet and don’t touch it for a long term or just not to be able to take part in each voting cycle but don’t want to lose the rewards.

Does this AIP include the ability for a delegator to receive a % reward for voting on another users behalf? I don’t currently see that in the AIP. To me that is a key function for this concept.

Have added the following: “To stimulate delegates to do this work (researching and voting) on behalf of owner (owners) the delegate may receive the ~1-5% of the owner (each owner) claimed reward amount. The amount of reward that owner decided to share with the delegate could be also specified at the moment of delegate creation.”

I think there is something interesting here from a security perspective around delegated wallets/claiming. However, I think delegated voting is something we should try to avoid as we want informed voters/community. @don to set AIP status to draft.

@VladislavW I recommend removing the delegated voting part and then we can continue the discussion.