Greetings Alice DAO members. It appears somewhere around 200 BOB users like you got into Alice and during launch were given 2 neurons locked in for 1 and 2 days.
Let’s see the current Alice SNS config and try to explain how things work:
Max Dissolve Delay Bonus 900 %
Max Age for Age Bonus 1 year, 54 days
Max Age Bonus 400 %
Reward Rate 6.9% to 4.2% over 3 years, 182 days
Max Dissolve Delay 8 years
Voting power is based on these settings, which will look like this. Rewards are given based on voting power.
We’ve analyzed the neurons, and here is what things look like:
Notice how users with 24.40% of the tokens have less than 2% of the voting power.
Users without knowledge of the intricacies of SNS DAO parameters (which like 5 people around can understand) are very likely going to just keep their default neuron settings and just vote. That’s what any user would expect to get after joining a DAO. In all other DAOs, they will have a good amount of voting power. With NTN DAO, it won’t matter if someone staked for 1mo or 6mo; all get equal voting power. It’s the bonuses configuration that makes the Alice DAO anti-retail investors.
We are sorry your first IC experience after BOB was getting into a DAO that doesn’t want you to have any meaningful voting power or voting rewards. It’s not what we stand for as an ecosystem.
This configuration gives you the following options:
- Keep a neuron and think you are voting, where your votes don’t count at all, and you get almost no voting rewards.
- Unstake and get your tokens bought. Launch rate was 0.003332 ICP, the rate now is 0,0145 ICP
- Stake for 8 years where your votes matter.
Notice - That’s NOT how the SNS framework works. All other SNS DAOs don’t have such a misfortune configuration. What you’ve got set by your current leadership appears to be against decentralization and any kind of democracy.
It appears this was set by W.e.n.z.e.l, and he put his stamp of approval.
He is also trying to stop proposals attempting to reduce voting power bonuses and admits that he was part of engineering this configuration.
Let’s take option (3) and see what it means.
If you lock ALICE tokens for 8 years and vote on all proposals over time, with the reward rate, you will most probably get back 100% of your ALICE through maturity in 11 years, and in 22 years, you will get double. Or you can spend 8y waiting for it to dissolve.
With this option, users will be reaping the rewards just around the time some get into a nursing home.
8y lock makes sense when rewards are higher and the project is long term - like ICP.
So, how did new users in the IC end up with the only NOT insane option for them being “Exit DAO”, and who in their right mind is staking for 8y and why?
It appears the current Alice leadership is involved in Node providers, WTN, and Alice. The way they can use Alice is to support their other income channels, from which normal Alice DAO members staking for 8y will get nothing. So all points to - they aren’t after the voting rewards in Alice, just the power to control it. One Alice update can return back the old Bob algorithm and congest the IC network. Or it could be something else equally bad. Given their track record of messing WTN up and getting the voting power of the other half of the DAO instead of putting a proportional representation voting system, I wouldn’t hold my breath waiting to get something out of Alice under their regime.
Luckily, you have another whale who cares about the IC and its users, is cleaning up this mess, and is paying out of his pocket to do that, by buying enough Alice to make sure its current leadership won’t be in control.
Changing the parameters to a 25% age bonus and a max dissolve delay of 100% (This is what other SNSes use) will give you some voting power. But now that you don’t have any, it’s hard to get that proposal accepted.
