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Themis: a vote-delegation program of electoral college to improve the say of defi token holders
DEFI token holders have a nominally right to decide various parameters in the system by voting,
but in reality the voting power of retail investors is null and void, large investors have the right to decide.
DEFI governance is fundmental. Whether it is adding new features to developing protocols, upgrading
value discovery mechanisms, or joining forces to counter big players with 10x more capital.
The market will need thoughtful, well-communicated individuals who are qualified for protocol governance,
who can be called protocol leaders.
Leadership influence has value, and people are willing to pay for it.
Protocol leaders are well versed in the governance of specific protocols; regularly engage in governance
to drive positive change through new proposals; and are willing to vote publicly on controversial issues
and back up their votes with rational arguments.
We expect the protocol leaders to serve the participants' commission and keep the participants informed
of key changes to the DEFI project.
Most importantly, entrusting to a good protocol leader is likely to be very lucrative, and there may be some
remaining benefits in addition to the proper protocol upgrades that can benefit you as a token holder.
Themis provides a tool with native tokens :mis, total uncapped, founding uni governance pool of 53,800,
halved each year. First year output 0.00085299340436327 mis per second, 15% of the output goes to the Themis team.
With electoral college mode，all the voters whoever on or against one proposal consist a electoral college. Within the
college, we vote with mis to decide which one we choose, for example,Biden or Trump. If we have a total uni of 1000,
and now we have 100 mis to decide the vote of uni, and now 51 mis for Biden and 49 for Trump, then the winner is Biden
and the total 1000 uni is vote for Biden.
The output algorithm is as follows:
Founding uni pool
For the coins that join the electoral college mining, the initial weight is p=0.4, that is, put 100 uni, can get 40
copies of the output ownership testimony som (share of mis), if the total pool of money at this time is 1000 som,
then you can share 0.00085299340436327*0.04*0.85= 0.000029001775748351mis.
In the following year, the weight is raised by 0.05 per month, i.e. p=0.4+0.05*number of months joined,
and after 12 months of joining, p=1.
For simplicity of calculation, take one month = 30 days.
After that, in the second year, each month is upgraded by 0.03, i.e. p=1+0.03*(number of months joined - 12).
After that, in the third year, each month is upgraded by 0.02, i.e. p = 1.36 + 0.02 * (number of months joined - 24).
After that, in the fourth year, each month is upgraded by 0.01, i.e. p=1.6+0.01*(number of months joined - 36).
After that, the weight is no longer raised, i.e., p(max) = 1.72.
After enough mis are produced (tentatively 1000), a mis self-governance pool will be opened. Then other DEFI
governance pools will be opened under the self-governance drive, and the number of mis produced by other pools
will be decided in proportion to the total market value of that DEFI coin and uni circulation.
Themis will start at the first Ethereum block after 00:00:00 GMT 2021 Jan.2 2021, based on the timestamp within the block.
You can delegate your uni voting rights to themis by https://app.themis.finance
Voting rights can also be delegated directly to 0x5380012e14BDCD58498ADfF1B678786Ea26b7485 through your trusted wallet.
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