Should GnosisDAO allow to use GNO locked in balancer pools for voting in snapshot proposals?

Currently, a big amount of GNO is used for yield farming on https://balancer.finance/, which is the biggest yield farming opportunity utilizing GNO today. GNO locked up in Balancer cannot be used for voting on snapshot proposals. This creates a tradeoff for GNO holders: You can earn yields OR you can vote.

As snapshot is a balancer spinoff and BAL tokens are used in balancer pools as well, snapshot implemented a solution to allow voting with BAL tokens locked in pools. After consulting with the snapshot team it was offered to make this option available for GNO as well. If this proposal is implemented there won’t be any trade-off anymore and participation in snapshot polls could be increased. There should be no downside to this proposal.

12 Likes

Straight forward yes! I can also not see any downsides.

3 Likes

Let’s do that, this will be useful

3 Likes

Yes from me on this also

3 Likes

I agree that even the quorum of 75K GNO Yes votes which represents 5% of the circulating supply is difficult to reach.

Currently we have 183K GNO deposited on Balancer pools. The owners of these GNO are active DEFI-protocol users and long-term investors who could provide additional support for the DAO proposals.

I strongly support this proposal.

3 Likes