Apathy towards governance in the DAO has become a serious issue we cannot continue to overlook. There are over 9k wallets eligible to contribute to governance (basically anyone who is staking on Portal.lisk)
I believe the problem is multifaceted but I’ll try to lay it out here and suggest a solution. As a long standing member of the Lisk community and as a delegate in the DAo, I have seen Lisk stall on development, pivot and even evolve completely in many ways, which is the biggest reason behind the current disconnect we have between the team and the community.
The real problem:
Top delegates are the Lisk team or someone closely tied to the team
These Top holders can easily form a quorum (Only 20% needed)
Communication Gap - for this DAO to work, we need better communication
Almost no real incentive for being an active delegate
Season 1 airdrop had a serious negative impact we can’t ignore
300k proposal requirement is so high. What is a DAO if only a select few qualify to make proposals.
The Proposed solution:
Lisk team should delegate to some active delegates to decentralise voting
300k vpLSK threshold should be reduced, so more members can put out proposals
Now that the LiskDAO is live, we need to use the X platform for better communication
Incentivise active voters, do pools on X to get the community’s opinion
We need more video walkthroughs, blogs and live sessions with DAO members
Plan a DAO campaign to keep the community alive and members participating eagerly.
About DAO campaigns and incentivisation, I am working on a proposal to address that already (requires funding and proper management for it to work). We need ecosystem grants from the DAO. Right now everything is about founders and developers - which is good in the long run, but we need to pull together our community or everything fails. Community feedback is everything
LiskDAO should be the most active Lisk social platform out there, we need a proactive handler, I hope the current handler is up to the task (we will find out soon enough. lol)
I’m passionate to see Lisk live up to its true potential, but I can’t do it alone. Any active member should feel free to jump on this with me.
But before then, I wanted to put this out, get some feedback and also figure out the best pathway towards getting the funds required to rejuvenate the DAO. What do you guys think??
You must resign, swap to be memecoin based on failure as joke - (similar logic like with fartcoin) but you must only do what you’re normally doing and name it elonchain, reach out Elon Musk and make short video with him saying your rebranded project name which should be elonchain. I’m serious about this strategy and no joking or saying anything bad about you, that’s the real strategy worth considering in my opinion.
I have good memory and that’s not the first time you’re talking about regaining community trust right? At least I remember previous one’s when you were saying that…
But honestly, you are done as community said. That’s the end in my opinion, you must face the truth that only lisk DAO left in this ship.
In my opinion Lisk DAO was created to squeeze last drop of money from all liskers. That’s being done, now observe when delisting will occur.
If you really want to do good for this project please ask them those questions from this topic: Airdrop season 1 outcome at least. I’m not even talking about other things which happened in the past like for example lisk machine learning scam. Now everyone knows that they are here to scam not to develop anything. You don’t even have idea about any 2025 roadmap details so what we are talking about?
To put it as simple as possible - you can’t fix lisk team and lisk DAO greed and their goal to steal as much money from other liskers as possible for themselves. It will never work as long as they are in power and believe me they are. One person can reschedule voting without community approval, any discussions etc.
Did you even read my post at all? I doubt.
Plus, this my first time initiating a topic here, so I’m not sure where you heard or saw me talking about regaining trust.
I believe we will get answers to the question you asked. But regardless of what answers you get, the situation remains the same… without an active governance communtiy, Voting becomes centralised and thats not good for anyone
I was mentioning previous events from the past in which lisk team were talking about regaining trust, not you.
Voting is centralised - this is a fact
I don’t think that we will get any reasonable answers from them, don’t expect that from them I know them since 2018.
DAO is funding wrong builders and founders mainly from Africa. Main goal of those so called “builders” is to get free money from grant program, fake that they are doing something and shut down half year later. Similar things happening in my city where people get dotations from EU to start up their business, they open restaurant take 20k polish money and close it half year or year later depending on their deal contract. They pay for bills using that 20k and the rest is clear profit for them.
They are not even present here, they went AFK in shame or something. Not long time ago they forgot about website certificate renewal and this website was offline for couple of days. Not to mention that they deleted about us (coming soon) tab on their website as if they want to hide their identity from people. I had to tell them to do something with it because this (coming soon) was there for 3+ months not changed. New guys visiting lisk website simply have no idea who leader is, who team is and what they’re doing at all. They don’t know their roadmap, plans, goals, etc. Moreover Max Kordek sold most of his lisk tokens dumping token price even more, should I continue with that and go way deeper? Because those were just fresh events from only month or two ago.
To sum up, you can’t build trust on thin air.
Why 0 people is interested in participating? Those who stake lisk lost -90% money instead of being profitable. There is no reason to stake other than willing to lose money. Team is not doing anything about it and not even mentioning it. For them it’s no problem that some people were buying lisk at 10 dollars per token in 2018 and now it’s 40 cents and will be even lower. They are diliting token price by unlocking more tokens every day and giving it to themselves increasing their voting power and dominance at the same time. So in other words they’re taking money from EU, USA, GB people and giving it fo themselves and for giveaways for African startups etc. At the same time having yolo vacations in tropics taking private jet and that also from wealthy people who invested who are not from Africa.
While stating that 9,000 wallets are eligible to participate in the DAO, you forgot to mention that even empty wallets can technically take part — but what’s the point of that? Right now, it’s the top 5–7 wallets that actually determine whether a proposal passes or not. And the team could easily bring it to the point where only the votes of the team and founders are enough to pass anything (since only 24 million quorum is required). Currently, @przemer and I are the only real counterbalance to proposals that go against the community’s interests. And honestly, there is no real DAO — just a fake one.
I don’t see any point in lowering the 300k threshold. At this stage, that’s only about $150k (probably even less). The issue isn’t the number of participants — it’s that the Lisk team, led by Max Kordek, has successfully dismantled the community from within. It no longer exists. Just look at L2BEAT — they vote with only 1.9k tokens and act like that’s normal. They’re not even trying to increase their stake because they clearly understand that Lisk is a shitcoin(at this moment, and i think they saw LSK/BTC, it’s always going down…). It lacks the basics: no belief in the product, no belief in the team, no belief in Max’s words. There’s nothing keeping people in the project.
And even when the bull run comes, the only thing that might change is the price (and even that probably just a little). The community won’t come back because of that.
Glad to know there’s someone else out there looking out for the community. I also see the work @przemer has been doing.
and this is exactly why we need to democratize this DAO, give more power to active community members and reduce the requisite for initiating a proposal. That’s my opinion. and I’ll like to see the likes of you @grumlin and @przemer support this initiative.
With more active DAO members being able to initiate or reject proposals, we can keep the team in check and do more good for the project.
If you started staking Lsk just after migration, you are probably -75% with your portfolio, all that sacrifice would be for nothing if you cant even contribute to decision making (Staking rewards are not worth much, so the real deal is governance)
Lisk DAO is probably the only real shot at making real changes to this project. we have a treasury, and the ability to allocate funds to relevant initiates.
I would say we as a community shout take this up and see what we can achieve with it.
In the past we had no lisk DAO and lisk was way above 1 usd. The real problem is with very bad tokenomics that promote dilution of tokens worth. We don’t need DAO, we need system in which people who stake lisk tokens profit over time instead of losing like -70-80% over period of few months. Every token which goes to DAO in reality is decreasing lisk worth instead of helping to at least maintain the price. It’s not about now it’s about consequent 4 year unstoppable lisk/btc decline. Nobody is interested in something which is falling for 4 years straight and have such bad reputation with absolutely zero plan for future.
They were putting into market new lisk tokens which were unlocked, staked or whatever else but the point is that those tokens were not bought but created free of cost. We don’t want inflationary system that decrease token value over time so first of all I would start from making sure that for every single token which was obtained free of cost 1 token should be burned to make it equal and prevent original value. If you give someone free tokens for e.g. airdrops then deduce that amount from total token supply to compensate this invisible lose of value for all lisk holders.
Have you seen how much tokens are allocated for DAO? It’s like 80% of total tokens over time they unlock more and more for themselves. This looks like official trump memecoin tokenomics.
you have a point, but in order for the community to be able to make these changes we need to put out a proposal and pass it, and the only way to achieve this is by getting more users to actually contribute to governance.
i don’nt know about you but i personally dont have enough vpLsk to initiate a proposal, ans even if i could, without the support of other delegates, the proposal will fail and we go back to square one.
so the choice is this, take back governance and make better decisions, or just keep complaining while doing nothing about it. In the end, as long as governance is still centralised, delegates who do not vote will suffer the same consequences as those who do. as long as we still hold lsk, we all lose if we dont change the optics soon enough.
In the past lisk team was consequently making very bad reputation for this project, watch lisk amplifire for example - soon, soon, soon was the key word and marketing was a joke Monica with primary school power point presentation - marketing not existing. Generally it was a lot of unrealised promises, even more delays, zero transparency, printing new tokens for free, lisk SDK developed for years and abandonned etc.
In the past they at least had phases like bronze diamond etc. and you could see what’s the plan of development in general. Now after they swapped to eth network there is no roadmap and I assume because of the fact that they couldn’t answer my question that there is zero development taking place now. Lisk is no longer unique blockchain, no developments being made, laughtably small ecosystem, one of the worst project leading in crypto history and I could write about other negative things for hours…
Imagine that 4 years ago it was already falling project like now with same negativity from community. Now after airdrop season 1 you can see the truth in people comments on x who joined recently for airdrop - they are right. They are also right with that lisk will go to 0.01 cent not so long from now.
There is simply zero arguments to stay in lisk, all hope is lost and team is gone. Good luck with trying to fix it. Starting from zero is better than from position of lisk. I want to be exaggerating things and be wrong about that but unfortunately I’m not exaggerating taking into consideration my deep research and being in this project almost from it’s beginning, facts are facts that’s it.
In Summary: We need to do something about this project and fast before it does actually go to zero.
Brings us back to the original topic. How do we rebuild this thing? BECAUSE IT’S LONG OVERDUE!!! and because burning it all down really doesn’t help anyone.
Burning does help everyone. We had only more and more tokens being unlocked, given for airdrop, to DAO etc. Lisk is giving left and right free lisk tokens whereas long time holders keep losing on it. Stacking not working as well because they give tokens not bought for real money and zero burning. Burning 100M tokens is minimum to make it more or less equal. When you last time heard of lisk token supply decrease? That’s right, never. Burning could grab investors attention and give one last chance for team to fix their incompetence and create new community.
I think you just misunderstood me. When I said burning, I didn’t mean token burning.
I actually would support token burning but the point is, the decision to burn or not is decided through voting and if we don’t get the DAO active again, that decision will be made by a select few.
An average of 1.5k out of 9k Voters have been seen to pass proposals in the past. That’s less than 30%.
The only way to ensure that the outcome of the next proposal is a reflection of the majority is to bring the majority of this DAO back into this conversation.
For instance, less than 10 person’s have engaged with this topic so far. It’s been mostly just me and you talking back and forth recently.
Hi. Honestly, I’m tired of all this. You need to understand the basics of how voting works and how the process actually happens. I already told you — it doesn’t matter how many people participate in the vote, even if it’s a million. If each of them only holds 1 Lisk, and another 10 people hold 24 million, the decision will always be made by those 10, regardless of what the million others want.
All your suggestions are based on direct democracy, but that’s not possible in crypto. The only system that has stood the test of time is staking-based voting.
The point isn’t how many people participate in a vote — the problem is that right now, the opinion of the majority isn’t really taken into account (unless przemer and I start sabotaging or voting against proposals — and mind you, don’t even abstain, vote against).
That’s why the main goal should be to increase token ownership among regular users and reduce the stake held by the team, the founders, and everyone connected to them.
But for users to take the risk and buy tokens, two things need to happen:
This thing needs to stop falling in price.
The team needs to show that they care about investors — because anyone who buys the token is already, essentially, an investor.
But the team doesn’t care. That’s been proven more than once over the past year.
So honestly, I don’t know how this issue can be solved.
Happy to see you join the conversation. I do understand how stake-based voting works, but I like to think that voting is just a part of governance just as this forum and every conversation on it is part of governance. And yes, I agree with you that price needs to stop FALLING and team has to be show more transparency, communicate better, accept and act on community feedback etc.
It is a difficult issue to solve but we have to try. As investors that’s actually the least we can do, the only other alternative would be to dump our coins at whatever market price we can and count our loses. Since you are active here and hold enough vpLsk I assume you are at least willing to stick around a bit longer.
The team and it’s known proxies control around 30% - 40% (rough estimate) of the DAO which means that if this DAO was active and all eligible accounts vote in one direction a favorable community proposal is more likely to pass than fail. So the issue for me here is active participation. Maybe some member staked their LSK and went to sleep or something (I was that guy for a while too).
So my approach to solving the 2 major problems you outlined (or at least the first one, for now) would be to reunite this DAO and vote to BURN 100M LSK. That, at least will stop further devaluation…
The team managed to get over 50% of all holders to claim their assets on L2 and a good number to stake it. IF THEY CAN, THEN WE CAN TOO.
Once we have enough holders delegating to active community members, we’ll have ‘‘community proposals’’ that actually pass.
Even if the TEAM doesn’t care about investors, they cannot ignore an active DAO.
We need more proposals, only those with 300k vpLSK can submit one currently. So we need more active members who meet this criteria and even more willing to support proposals that ensure that $LSK price doesn’t go to zero(0)
At least I remember previous one’s when you were saying that…