CapriciousSage: The problem we’ve been having is that multiple subnets have been doing this with a portion of their emissions, and stopping them has been an endless game of whackamole… thus, the (under-development) on-chain solution that we’ll be pushing anyone wanting to do anything vaguely like this onto the moment it’s done
I came up with a design for a treasury contract built on OpenZeppelin Governor last week, but:
- the subnet needs actual validators running for this to be possible - if the owner gets chk from everyone then treasury is just as good as a custodial coldkey
- there will be a delay between the time validators vote and when the disbursement happens, so if the owner goes rogue or is hacked and there’s a run at the money, validators can stop it using new burn code effectively locking the subnet down, including the treasury
- we’ll need transparency to be able to monitor the payouts and subnet owners will have to justify their spending to maintain trust
- new chain side metric “voting power” will currently be tracked as stake EMA but combined into effective voting power by using CHK delegation, so a validator can quickly withdraw his delegated voting power
- minor customizations may be necessary to facilitate the protesting (so that in the second half of the voting period only “nay” votes can be cast, for example)
feedback is welcome