I’ve got a secret… If you have a neuron on the NNS and you haven’t updated it recently, I am probably getting some of your governance rewards this week…
Recently, two passed proposals were implemented:
The removal of dfinity and ICA as a possible followee for governance topics.
A scaling of proposals so that governance proposals receive much more weight in determining the daily reward.
The net result is that you need to log into the NNS and either:
Update your followee list to add a followee for governance topics (cycle_dao and ICPMN are two named options or ICDevs can be followed at neuron id 14231996777861930328). OR,
Log into the NNS every time a governance topic is open and vote manually (this is what I do).
Note - Jordan Last has created an excellent bot (on OpenChat, of course!) that will send your phone a notification whenever a governance topic opens). See this tweet for more info.
Whatever you choose above, you want to do it NOW. That’s because we are in the middle of a 30-day period where Wenzel Bartlett is opening a governance proposal every day to raise awareness and participation in the NNS governance. You want to be maximizing your rewards during this period, because the difference is remarkable. Since the changes discussed above went live earlier this week, my 8-year neurons have been averaging 72% annualized yield, whereas 8-year neurons not participating in the governance proposals are receiving closer to 10% annualized yield. And while I’d love to continue earning 72% yield, I want even more for EVERY participant in the NNS to participate in the governance of the Internet Computer.
So, if you have a neuron, stop what you are doing and go set a followee for governance topics or vote manually. Really, stop what you are doing and do it now. I’ll wait….
Now that that’s settled, have you considered all the progress that the NNS has made in it’s first 9 months? Consider what has changed since Genesis:
Tens of thousands of proposals have been passed and automatically implemented.
Over a dozen governance proposals have been made by community members. Dfinity no longer is the sole driver of the Internet Computer governance.
The forum for governance topics is active with dozens of participants.
There are now two named followee options (ICPMN and cycle_dao) and many more likely coming.
It was used to set the 2022 roadmap for Dfinity.
28% of voting power is now held by neurons created AFTER genesis.
The NNS manages a system with a $9.4B market cap, which might make it the world’s largest dao. And given the progress above, it may also be the world’s most progressive dao as well.
A special shout-out of recognition to Wenzel Bartlett, who has led many of the efforts to improve the governance of the Internet Computer on behalf of the community. It’s been remarkable to see Wenzel’s commitment and genius. And, while I’m doing shout-outs, here’s one for my mate from down under, who joined the #8YearGang today… welcome to the club Jason!