Currently, the following has to be reached in phase 3 for a proposal to be accepted:
For proposals to be accepted in this final phase, there must be one outcome with a relative majority of GNO used for signaling on the GnosisDAO Snapshot poll accompanied by a quorum of a minimum of 10% of the circulating supply of GNO. If the relative majority of GNO used in signaling on the Snapshot poll indicates the result
Make no changes,the proposal will not be accepted and considered closed.
As Martin mentioned in this post (README: GnosisDAO Governance Process) there are different ways to interpret this:
a) at least 10% of GNO is needed to vote and within those, there needs to be more yes than no votes.
b) the yes votes need to reach this quorum AND more yes than no votes.
From the text both interpretations are possible. b) is the better option because otherwise, a no vote could result in the decision being made. Imagine that yes is leading but overall the quorum has not been reached. Now - if you favor “no” it might be the better option to not vote at all.
The issue with b) is that the required quorum of 10% only counted in YES votes (ca. 150k GNO) is very high and difficult to reach. The first snapshot proposal had about 100k GNO used for voting in total.
Instead of the current 10%, the threshold could be lowered to 4% or 5%, as 4% is used in Compound and Uniswap’s governance models.