Conviction Voting
A continuous voting mechanism where support accumulates over time, allowing preferences to be expressed without discrete voting periods.
Pioneered by: Commons Stack, 1Hive
How It Works
1. Community members stake tokens on proposals they support 2. Conviction (voting weight) accumulates over time 3. The longer you stake, the more conviction builds 4. Proposals pass when conviction crosses a threshold 5. Moving tokens resets conviction, preventing quick gaming
Deep Dive
Conviction Voting is a novel decision-making process where tokens continuously accumulate voting weight behind proposals over time. The longer you support something, the stronger your conviction signal. Unlike traditional voting, there are no discrete rounds. Proposals pass automatically when they accumulate enough conviction. This removes the gaming around voting deadlines and allows for more authentic preference expression. It was pioneered by the Commons Stack and implemented by 1Hive and other DAOs.
Advantages
- No voting deadlines to game
- Continuous preference expression
- Rewards genuine long-term support
- Resistant to last-minute vote swings
- More natural decision making
Limitations
- Slower than traditional voting
- Can be confusing to newcomers
- Favors patient participants
- Complex to implement correctly
- Threshold setting is tricky
Best Used For
- DAO treasury allocation
- Grants programs
- Community governance
- Resource allocation
Tags
Last updated: 11/1/2024