Governance Polls: Ratifications
August 9, 2021
As a Decentralized Autonomous Organization, MakerDAO’s community governance processes are as important to the Maker Protocol as the blockchain-based smart contracts and price feeds that underpin it. Holders of MKR, the Maker governance token, cast blockchain-based votes that influence consumer behavior with the goal of maintaining Dai’s soft peg to the US Dollar and the high performance of the Protocol and the DAO as a whole.
The importance of voting to the Maker project can’t be overstated. Therefore, the easier it is for MKR holders to engage with the Voting Portal, the more likely they will participate in the governance process, and the more decentralized the organization becomes.
The Maker Foundation’s Product Team studied user engagement with the portal over the last year, focusing on how users interact with the interface. Based on community feedback, they reconfigured the Maker Voting Portal to make proposal polling and voting simpler and easier to follow.
Highlights of the redesign are described below. To join in the discussion of the updates, see the New Voting Portal post on the Maker Forum on the MakerDAO forum.
There are numerous changes to the new Voting Portal landing page. For instance, it no longer requires users to immediately connect a wallet (though voters can opt to engage with the old interface). The new page also contains much more information, including:
The new Voting Portal landing page provides at-a-glance information about the current Executive Vote.
To view and vote on Poll proposals, users click through to the new Polling page. Poll proposals can now be filtered by type (e.g., risk parameter proposals and new collateral type proposals) and date for a more organized viewing experience.
Clicking on any Poll in the list displays a card that not only contains details of the Poll, but also a Vote Breakdown tab. That tab shows the amount of MKR placed in support of each option, and the percentage of total votes cast.
One of the most significant developments on the Polling page is the “Ballot” function, which allows users to batch multiple Poll Votes into a single transaction. Batching votes is fast and convenient, and should decrease the amount of ETH gas fees voters spend with each transaction.
The Executive Vote page displays the latest Executive Vote proposal and includes the option to view previous vote results. As with the Polling Vote page, the real-time amount of MKR in support of the proposal is shown, along with other relevant information. System Stats and links to governance resources are also provided.
When clicking on an Executive Vote proposal, voters are presented with three tabs; Proposal Detail, On-Chain Effects, and Comments.
The most significant update to the Executive Voting experience is the option to attach a short comment when submitting a vote. This addition was made in response to community feedback requesting clarity behind voting choices.
The Voting Portal was redesigned to make it easier for MKR holders to stay informed on Poll and Executive Proposals and Votes. The improvements should spur community engagement and help MakerDAO down the road toward full decentralization.
Participate today in Maker governance by getting involved in discussions on the Maker Forum.