Token holders usually delegate their tokens to delegates who are either popular on social media, a well known organization or those with large number of tokens already delegated to them. Lot of times, these delegates are not active in the governance of the DAO and the delegated votes are not put to use.
Read how Karma reputation for ENS delegates solves this problem and helps token holders make an informed decision during delegation.
We worked with the ENS community identifying the tools and metrics used in the DAO governance. ENS uses snapshot for off-chain voting, custom contracts for on-chain voting along with discord and discourse forum for discussions.
We selected key activities performed by delegates and set the weights for those activities. Example: Off-chain voting has a weight of 3. So delegate's off-chain voting pct is multiplied by 3. Proposal created on the forum carries a lot more weight, so it was assigned a weight of 10.
The weights and score calculation logic is open source and can be found on github.
Once the metrics and weights were determined, we fetched data from all the tools and generated reputation scores for all the delegates. The delegate leaderboard we created can be used to find the delegates based on reputation and easily delegate tokens to them.
Delegates can use this to improve their own involvement in the DAO. DAO can also use this to monitor delegate activity and discover new contributors.
Along with reputation leaderboard, Karma also generates profiles for all DAO delegates. These profiles act as auto generated resumes showing their activity across all the tools.
Delegates can share their profile with token holders to let them delegate their tokens or share with other DAOs they are interested in joining to prove their skills.
Token holders can easily delegate their tokens
Delegates can showcase their contributions
DAO can track delegate activity and improve governance