Updated 2024-10-29
Flow State is introducing a new allocation mechanism called Flow Council Voting, designed to empower ecosystems in a different way compared to Streaming Quadratic Funding (SQF). While SQF has voters contribute their own tokens to directly fund projects and allocate matching pools, Flow Council Voting allows participants to allocate funding without giving away their personal token treasuries.
Overview of Flow Council Voting
In Flow Council Voting, participants are entrusted with voting power to allocate a shared pool of funds (referred to as the "river"). Instead of committing their personal tokens, voters use the voting power given to them to decide how to distribute the funds among builders. This approach allows allocators to act purely as stewards of funding without the need for personal financial contributions.
Key Elements for Running a Flow Council Voting Round
To set up a Flow Council Voting round on Flow State, there are a few key components you need to consider:
- Voting Power Allocation: Decide who will have voting power and the criteria for their selection. This could include members of a DAO, community leaders, or other trusted individuals.
- We will support multiple ways of allocating voting power for Flow Councils.
- River Details: Define the nature of the funding river. Consider what currency will be used, how much will flow to builders, the flow rate (e.g., per second), and the duration of the funding.
- Builder Eligibility: Establish criteria for who can become a builder and receive funding. This ensures that the funds go towards projects that align with the community's goals.
When to Choose Flow Council Voting
Flow Council Voting isn't inherently better or worse than SQF; it simply offers a different approach based on the needs of your ecosystem.
- No Personal Financial Contributions: Flow Council Voting is ideal when you don't want allocators to have to sacrifice their own token treasuries. It allows participants to allocate funds purely using the voting power they have been granted, without any personal financial stake.
- Pure Stewardship: This model is more about empowering community members to steward shared resources rather than requiring them to donate personally. It’s an opportunity to leverage collective intelligence while removing the burden of personal financial sacrifice.
Interested in Running a Flow Council Voting Round?
If you’re interested in running a Flow Council Voting round, reach out to us anytime! Join our community Telegram and tag Gary or Graven to get started.
Here’s a demo of the UI as of 2024-11-04: