[neo-project/neo] Approval Voting & Time-Locked NEO Voting Contracts (#313)

> No matter what voting mechanism may be in place in the future I don’t like the idea of locking NEO into a contract. That would mean the stakeholder has to send his own NEO to a contract and loosing the control of his investment (even if it is for a short period of time).

This is actually really important for the concept. By requiring locked up NEO, you:

– Partially stabilize the price
– Create scarcity even with divisible NEO (something likely to happen to assist decentralization)
– Encourage only active participants in the network’s management to hold NEO
– Create an easy way to figure out where GAS distribution goes
– Re-create the value proposition for GAS as a utility token in the event of divisible NEO

Only those dedicated to managing the network should be incentivized to hold NEO tokens. Requiring them to be locked up to gain GAS distribution is a great way to incentivize people to vote, and it provides GAS with use as a utility token. Anyone that wants to invest but not participate in management can simply invest in GAS.

This post was last modified on July 11, 2018, 12:32 am