Supportive of the proposal, but we should be thinking about the why and what?
Why are delegates loosing voting power?
Why is it hard to gain new voting power?
What can be done to tackle this and whats the main reason?
I don’t think thats the reason at all. We all should be aware that probably 80% or even more of ARB holder are airdrop recipients or people that believed the token will appreciate in value.
But since inception of the ARB token it only knows one direction and that is downwards.
Most people do not care at all about governance or delegation and what impact it can has. For them its about making money. So if they see their investment is loosing value everyday of course they are going to sell and thats why everyone in here is loosing VP.
The only ones sticking to their token will early investor, the foundation and everyone still locked in a vesting contract. The “normie- retail” investor is not going to stick to something that has gone down in value as much as 90% and then say " hey let me delegate my token to EzR3aL, seems like a nice guy".
This is an illusion. And the only way to get more VP and be able to have a higher quorum threshold is by bringing value to the token and making it interesting for retail. Even if we like it or not, thats the reality. As long as Arbitrum is just a “useless” governance token with no value holding it longterm by offering yield from sequencer fees or something else, this situation will not change. And this is not only about Arbitrum, the same applies to other competitor protocols like Optimism and their token as well as ZKsync and the ZK token.