Community post
Incentivising Voting - when, how and by whom
Should voting be mandatory, or optional (voluntary)?
When if ever should voting be incentivised?
What incentives are appropriate, when, paid by whom, and why?
Which sorts of votes should be incentivised? Which should not?
Replies (2)
The best incentive for voluntary voting would be a Reinforcement & Punishment System in place to maintain accountability. Without these operant conditions voting is just another resource consuming exercise.
Voting should be optional in nearly every circumstance. For people that have no interest to vote, they will vote arbitrarily, and will either easily be influenced or have no affect on the end outcome.
In the two circumstances of voting for producers and assigning the 5% stake of the network the following applies:
People holding tokens (with voting power) have an incentive to ensure the network is properly functioning because this in turn increases the value of their tokens.
The 5% annual inflation and determining where this fund goes is important as it dilutes their token value
A problem I see though is people voting for a guarantee of a producers stake. e.g. producer will give 50% of the annual distributed 5% EOS tokens if they get voted in (similar problem Ark Ecosystem has). They might not be the best producer but because users can get more tokens from them, they will most likely be voted in. This could lead to a higher chance of collusion. How can this be solved?