# GIP-04: Expand Eligible Voting GFI **URL:** \ **Category:** Proposals\ **Tags:** meta-governance\ **Created:** [February 18, 2022, 8:07pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818 "2022-02-18T20:07:16Z")\ **Posts on this page:** 15\ **Page:** 1
**Author:** ![blakewest](https://avatars.discourse-cdn.com/v4/letter/b/94ad74/32.png) [@blakewest](https://gov.goldfinch.finance/u/blakewest)\ **Post date:** [February 18, 2022, 8:07pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/1 "2022-02-18T20:07:17Z")
## **Summary** In an effort to open up voting to the most strongly aligned members of the community, we propose to allow still locked tokens from the various airdrops to be used for voting. We also propose allowing the vested, but unclaimed tokens from FIDU staking to be used. Lastly, we propose increasing the quorum by 2X to account for the increase in eligible GFI. ## Motivation Currently there is a fairly low circulating supply of GFI. A lot was purposefully designed to be locked up and released over the course of 1-2 years, especially for all the largest holders of GFI. That GFI is currently ineligible for voting, which means the voices of the community’s biggest and earliest supporters is not being heard. It would be a relatively simple change to the Snapshot voting strategy to allow this, and the benefits seem clear. ## **Specification and Requirements** This change would happen on the Snapshot voting strategy. No on-chain changes are required. The changes in the strategy would do two things. 1. Use the CommunityRewards NFT contract, and look up the `totalGranted` - `totalClaimed` to arrive at a “total granted but not claimed” amount. → It’s ok to use the “granted but not claimed” amount because these rewards are always going to be the users, they simply haven’t unlocked yet. 2. Use the StakingRewards contract for FIDU, and look at the `claimableRewards` for a given user’s position. → We use claimable rewards here because we should not count GFI that is not yet vested. 3. Increase the quorum on Snapshot by 2X to 50k. → There’s roughly 10M circulating GFI, according to [CoinGecko](https://www.coingecko.com/en/coins/goldfinch). There’s about 15M still in the Community Rewards contract. So that’s about 2.5X increase in supply that could vote. I think choosing a clean 2X increase in the quorum seems like a reasonable place to start. This is very easy to adjust later. Note, both of these would be added together with whatever GFI is in the user’s wallet, to arrive at their total GFI voting power. **Benefits** - It lets the people who contributed the most early on, and have the most at stake with Goldfinch to have a voice in Governance **Downside** - Potentially you could argue it increases the ability of large holders to influence votes. But our usage of quadratic voting severely constrains this. And of course, large holders are generally the earliest and most aligned supporters. **Notes** - Just to be clear, this is not affecting the actual unlock schedules in any way. There are no on-chain changes with this. It will merely allow the snapshot strategy to take into account still locked GFI. **Voting** “Yes” - Allow locked but unvested GFI from airdrops to be eligible for voting, and also allow claimable Fidu rewards to be eligible for voting “No” - Do nothing **Resources** - [Community Rewards](https://github.com/goldfinch-eng/mono/blob/main/packages/protocol/contracts/rewards/CommunityRewards.sol) contract - [Staking Rewards](https://github.com/goldfinch-eng/mono/blob/main/packages/protocol/contracts/rewards/StakingRewards.sol) contract - [Coingecko page](https://www.coingecko.com/en/coins/goldfinch), which contains the circulating supply info. ---
**Author:** ![salova](https://avatars.discourse-cdn.com/v4/letter/s/aeb1de/32.png) [@salova](https://gov.goldfinch.finance/u/salova)\ **Post date:** [February 18, 2022, 9:08pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/2 "2022-02-18T21:08:39Z")
This is a good suggestion, but I think users don’t fully understand who exactly will be able to vote. My vote is YES, but I think it’s worth Increase the quorum on Snapshot to 100k ---
**Author:** ![Metatron](https://yyz1.discourse-cdn.com/flex035/user_avatar/gov.goldfinch.finance/metatron/32/108_2.png) [@Metatron](https://gov.goldfinch.finance/u/Metatron)\ **Post date:** [February 18, 2022, 10:05pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/3 "2022-02-18T22:05:35Z")
This proposal will allow more community members to participate in governance procces. It will also motivate them to take an active part in the development of the project. I give my YES ---
**Author:** ![parallacs](https://avatars.discourse-cdn.com/v4/letter/p/f6c823/32.png) [@parallacs](https://gov.goldfinch.finance/u/parallacs)\ **Post date:** [February 19, 2022, 2:01pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/4 "2022-02-19T14:01:55Z")
I definitely support this proposal as it is the best way to achieve the goal at this stage. ---
**Author:** ![wakiyamap](https://yyz1.discourse-cdn.com/flex035/user_avatar/gov.goldfinch.finance/wakiyamap/32/155_2.png) [@wakiyamap](https://gov.goldfinch.finance/u/wakiyamap)\ **Post date:** [February 19, 2022, 5:50pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/5 "2022-02-19T17:50:30Z")
When I make an airdrop claim, tax will be incurred in Japan. So the claim has not been made. If we can vote while locked, we can prevent GFI from being sold. My vote is YES. ---
**Author:** ![Yaroslav24](https://avatars.discourse-cdn.com/v4/letter/y/3e96dc/32.png) [@Yaroslav24](https://gov.goldfinch.finance/u/Yaroslav24)\ **Post date:** [February 20, 2022, 6:15pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/6 "2022-02-20T18:15:13Z")
Good point! Agree with the proposal ---
**Author:** ![Verstak](https://avatars.discourse-cdn.com/v4/letter/v/eb9ed0/32.png) [@Verstak](https://gov.goldfinch.finance/u/Verstak)\ **Post date:** [February 21, 2022, 7:53am UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/7 "2022-02-21T07:53:08Z")
Good suggestion! I’ll give my YES too ---
**Author:** ![mans9841](https://avatars.discourse-cdn.com/v4/letter/m/35a633/32.png) [@mans9841](https://gov.goldfinch.finance/u/mans9841)\ **Post date:** [February 21, 2022, 8:01am UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/8 "2022-02-21T08:01:46Z")
No brainer here to vote “Yes” for empowering community voice. Also, assuming that Seed and Series A investors are not included, I think 2X quorum i.e 50k is a good threshold to start. ---
**Author:** ![nisa](https://avatars.discourse-cdn.com/v4/letter/n/49beb7/32.png) [@nisa](https://gov.goldfinch.finance/u/nisa)\ **Post date:** [February 22, 2022, 3:52am UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/9 "2022-02-22T03:52:43Z")
It is normal in DeFi to allow voting with locked tokens. I’m in support of this proposal !! ---
**Author:** ![carnage\_dima](https://yyz1.discourse-cdn.com/flex035/user_avatar/gov.goldfinch.finance/carnage_dima/32/59_2.png) [@carnage\_dima](https://gov.goldfinch.finance/u/carnage_dima)\ **Post date:** [February 22, 2022, 6:36pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/10 "2022-02-22T18:36:25Z")
My vote is big YES! It’s a good decision 👍 ---
**Author:** ![riceshower](https://avatars.discourse-cdn.com/v4/letter/r/2bfe46/32.png) [@riceshower](https://gov.goldfinch.finance/u/riceshower)\ **Post date:** [February 22, 2022, 9:31pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/11 "2022-02-22T21:31:09Z")
My vote is YES! Good suggestion. ---
**Author:** ![JeremyKim](https://avatars.discourse-cdn.com/v4/letter/j/54ee81/32.png) [@JeremyKim](https://gov.goldfinch.finance/u/JeremyKim)\ **Post date:** [February 22, 2022, 10:58pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/12 "2022-02-22T22:58:55Z")
Yes But I think it would be interesting to see a breakout (at a high level) of the votes going forward between unvested/unclaimed GFI and vested/claimed GFI. ---
**Author:** ![SkipperSu](https://yyz1.discourse-cdn.com/flex035/user_avatar/gov.goldfinch.finance/skippersu/32/78_2.png) [@SkipperSu](https://gov.goldfinch.finance/u/SkipperSu)\ **Post date:** [February 27, 2022, 8:49am UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/13 "2022-02-27T08:49:22Z")
I agree with the suggestions my vote is “YES” …but the TERMS LIST is needed and must be in EACH text of each proposal! It may be realized easily as on Wikipedia - [1645951412419 (376 kb) закачан 27 февраля 2022 г. Joxi](http://joxi.ru/bmoJkvwUO06Nqr) the term explanation shows when the mouse over the link. But it needed to start and create and add the terms in each iteration. It’s very-very necessary for every proposal (for newcomers for example) and it’s necessary to create the term list for those who want to give the suggestion (optional, but needed if you want to understand you). ---
**Author:** ![Ras](https://avatars.discourse-cdn.com/v4/letter/r/58956e/32.png) [@Ras](https://gov.goldfinch.finance/u/Ras)\ **Post date:** [February 27, 2022, 6:46pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/14 "2022-02-27T18:46:40Z")
Full support to this proposal, so YES ---
**Author:** ![nisa](https://avatars.discourse-cdn.com/v4/letter/n/49beb7/32.png) [@nisa](https://gov.goldfinch.finance/u/nisa)\ **Post date:** [March 14, 2022, 4:16pm UTC](https://gov.goldfinch.finance/t/gip-04-expand-eligible-voting-gfi/818/15 "2022-03-14T16:16:41Z")
GIP-004 is soft approved by council.