Great post Pete...when I tried to communicate what I thought was not right about Catalyst I was de-platformed. I couldn't get anywhere trying to use the voting system and was treated like a class A fudster when all I was trying to do was participate. They stopped allowing me to post my views on the official Cardano website and that was that. I wonder how many other Cardano holders were treated the same way. I am not surprised by the lack of participation...I am surprised that Catalyst got this far without anybody asking the questions that we were not allowed to ask back when the hard questions needed to be asked. Personally...I commend the action that the CF took to remedy the situation and would hope that they continue to act in the best interests of all Cardano holders.
It is not possible for most people to review so many proposals adequately, so it follows that most people should not be voting for Catalyst funding. This is because it’s pretty easy to make any bad idea sound good to someone who doesn’t have the time to research it carefully, let alone climb the learning curve that may be necessary to do so. The incentive system for voting needs to be incentivized, with rewards for comprehension as well as for voting. Otherwise, it simply won’t work well, if at all.
No one should feel like they don't have a voice. If someone wants to vote for something then they should be allowed to vote for that. Perhaps some checks and balances could be constructed to ensure people are actually understanding what it is they are voting on. However, to strip people of the ability to participate because the "Big Foundation" knows better, is just a bunch of garbage.
thanks again for the great content and updates on everything going on with Cardano. What would really be great IOHK or any other developper from the Cardano community would raise a proposal ( on catalyst next round ) of creating a easy way for aggregate ADA from multiple accounts for voting. currently you cannot do this. you currently only have the possibility to vote for one account at a time. I have seen other people also raising this issue. if you or anyone else could raise this issue to people with more influence at IOHK or CF, it would be much appreciated
I voted once in Catalyst. Took me around three days to get some idea of the proposals, but there were just too f-ing many. In the end, I rushed it; felt I had done a poor job; and promised myself to never do that again. People are used to a representative governing system. Trying to get every Cardano citizen to vote on every proposal is ludicrous. I would like to vote on the areas I find important for the ecosystem, and leave the details to specialists. I am not a specialist nor do I have any inclination to become one. My nr.1 desire for the ecosystem is for it to facilitate payments through an app and preferably with the option to use stablecoins.
With you on that. I would even go as far as stating that delegated representation should place experts in the various and myriad topics/areas of interest. We should avoid political approach we have in the real world where we see lawyers picking up representative positions in military, finance, economy etc... areas they have no f'n clue about. It damages the system. We need experts and we should entrust our voting power to experts, not politicians.
@@sarapent28 You could even go a step further by not voting for people but instead on programs/directions. Because when you vote for people it tends to be the people who are good at communicating/convincing who get elected. Unfortunately the people who are good at communicating are often not true technical specialists. It's just a very different skillset. And yes, this is also where I see a lot of our current day problems stem from.
i have more faith in CF than those projects who gets massive funding, check the amount of ada requested by these big projects thats been already and question the amount of work
The CF obviously have the right to vote. I'm not sure if the way they did it was the most ethical though by negating (so far) the "popular vote" . Nor were they particularly thorough in relation to choosing based on cost/benefit for that matter (check out the Law Firm getting 95k to host 3 webinars on the European MiCA Regulation) . With great (voting) power comes great responsibility and thy had the chance to use their power to be guarantors of democracy . Is it guaranteed that the remaining ADA wont be utilised to ensure that the proposals they want get passed. Yes there is always the silver lining of learning or of getting people more active to participate but at what cost. Maybe existing projects themselves could create the biggest carrot by including a "proof of vote" feature that would enable wallets that voted to access certain benefits or enter into prize draws.
Hey Pete, A lot needs to be done on the issue of voting on Cardano actually. Let's start from just trying to register to vote. You have a wallet that maybe connected to different wallets. ie, Eternl, Yoroi, Ledger etc. So, you pick a wallet and attempt to register to vote. However there is nothing that lets you know if that was done correctly. Instead, you have to wait until AFTER the snapshot is taken before you can attempt to connect your voting app to the wallet you registered with. If it doesn't work, well... You're just screwed until the next time voting happens. You lost your vote this time though. I believe this needs to change. A person should be able to connect to the voting app after they have registered to vote, to ensure everything is working on their end prior to the vote. Get that solved first, and then we can discuss other issues.
can you create an video on how to be involved in governance and voting using our wallets some of us are new and we what to learn also what are the benefits in participating. most only know how to stake
A better way might be to have a dapp for raising funds, where people invest actual ada to projects and in return get some token from that project. voting without anything at stake is always a bad idea. not sure how projects without a token will get funded but maybe they shouldn't be funded in the first place.
How is it unfair? Cardano foundation is part of the ecosystem. Everyone should be allowed to vote. Everyone. Cardano Foundation is not an exception. You want more voting power get more ADA then.
I dont understand why they cant find a way (using midnight kyc) to have only unique individuals (instead of wallets) vote......and then on top of that maybe segment tiers of ADA that you own to accomodate for those that are heavily invested have more voting power than those that have 25ada (which is understandable because some are simply more heavily invested which entitles them to a bigger vote......yet the 'unique individual' aspect will keep it at bay.
A place to start changing is instead of 1 ADA 1 vote....make 1 wallet 1 Vote...if you want to take your whatever amount of ADA and make however many wallets to influence voting that will take significantly more effort to do so.
There's way more than 180mil ada being allocated to Dreps. So if your trusting a Drep to make good decisions for the ecosystem, why would you have a problem with the cardano foundation doing the same?
A bit controversial but I think that people either need to delegate to a Drep/vote on their own behalf, or have ADA staking rewards halted. Don’t participate, don’t get rewarded, simple
Stopping staking rewards can't be the solution because it would critically weaken the network. Don't forget that staking is used to secure and defend the network. Without incentives to stake, staking would diminish and the network would become vulnerable to attacks.
its bs. two wrongs dont make a right. the cardano foundation designed project catalyst and knew good and well what would happen and now just joining in
Cardano Foundation did not design Project Catalyst. Project Catalyst spawned from under IOG. Somewhere it was mentioned that CF was critical of how Catalyst was run and how votes could manipulate the entire process. It is written in the blog post in the comments and the link to the Townhall video is here: ruclips.net/user/liveO-4P0h1Cd30 but has since been made private.
i hope your voting good for me :) i delegated to you, is there an easy way i can track what you use it for? i need to verify its being used correctly even though i trust you
Great post Pete...when I tried to communicate what I thought was not right about Catalyst I was de-platformed. I couldn't get anywhere trying to use the voting system and was treated like a class A fudster when all I was trying to do was participate. They stopped allowing me to post my views on the official Cardano website and that was that. I wonder how many other Cardano holders were treated the same way. I am not surprised by the lack of participation...I am surprised that Catalyst got this far without anybody asking the questions that we were not allowed to ask back when the hard questions needed to be asked. Personally...I commend the action that the CF took to remedy the situation and would hope that they continue to act in the best interests of all Cardano holders.
Good information! Thank you :)
It is not possible for most people to review so many proposals adequately, so it follows that most people should not be voting for Catalyst funding.
This is because it’s pretty easy to make any bad idea sound good to someone who doesn’t have the time to research it carefully, let alone climb the learning curve that may be necessary to do so.
The incentive system for voting needs to be incentivized, with rewards for comprehension as well as for voting. Otherwise, it simply won’t work well, if at all.
The foundation probably makes better decisions then the normal retailer
Plus it has just as much right as everyone else to vote.
No one should feel like they don't have a voice. If someone wants to vote for something then they should be allowed to vote for that. Perhaps some checks and balances could be constructed to ensure people are actually understanding what it is they are voting on. However, to strip people of the ability to participate because the "Big Foundation" knows better, is just a bunch of garbage.
I'm with you Pete, you summed it up well. This is why your my drep
More of these types of video please. Very helpful!
Thanks for this update!
Great down to earth. You’re really good
Thanks for the vid. I really need to start voting! You've inspired me
I was really trying to vote but the catalyst app kept telling me that my wallet was not found. Wish the onboarding process was a little bit smoother.
Make this video viral. It’s gonna help the cardano community
Thank you! Grateful 🙏
thanks again for the great content and updates on everything going on with Cardano. What would really be great IOHK or any other developper from the Cardano community would raise a proposal ( on catalyst next round ) of creating a easy way for aggregate ADA from multiple accounts for voting. currently you cannot do this. you currently only have the possibility to vote for one account at a time. I have seen other people also raising this issue. if you or anyone else could raise this issue to people with more influence at IOHK or CF, it would be much appreciated
This motivated me to figure out how I send my give my proxy to the CF.
I voted once in Catalyst. Took me around three days to get some idea of the proposals, but there were just too f-ing many. In the end, I rushed it; felt I had done a poor job; and promised myself to never do that again. People are used to a representative governing system. Trying to get every Cardano citizen to vote on every proposal is ludicrous. I would like to vote on the areas I find important for the ecosystem, and leave the details to specialists. I am not a specialist nor do I have any inclination to become one. My nr.1 desire for the ecosystem is for it to facilitate payments through an app and preferably with the option to use stablecoins.
With you on that. I would even go as far as stating that delegated representation should place experts in the various and myriad topics/areas of interest. We should avoid political approach we have in the real world where we see lawyers picking up representative positions in military, finance, economy etc... areas they have no f'n clue about. It damages the system. We need experts and we should entrust our voting power to experts, not politicians.
@@sarapent28 You could even go a step further by not voting for people but instead on programs/directions. Because when you vote for people it tends to be the people who are good at communicating/convincing who get elected. Unfortunately the people who are good at communicating are often not true technical specialists. It's just a very different skillset. And yes, this is also where I see a lot of our current day problems stem from.
i have more faith in CF than those projects who gets massive funding, check the amount of ada requested by these big projects thats been already and question the amount of work
The CF obviously have the right to vote. I'm not sure if the way they did it was the most ethical though by negating (so far) the "popular vote" . Nor were they particularly thorough in relation to choosing based on cost/benefit for that matter (check out the Law Firm getting 95k to host 3 webinars on the European MiCA Regulation) .
With great (voting) power comes great responsibility and thy had the chance to use their power to be guarantors of democracy . Is it guaranteed that the remaining ADA wont be utilised to ensure that the proposals they want get passed.
Yes there is always the silver lining of learning or of getting people more active to participate but at what cost.
Maybe existing projects themselves could create the biggest carrot by including a "proof of vote" feature that would enable wallets that voted to access certain benefits or enter into prize draws.
Hey Pete, A lot needs to be done on the issue of voting on Cardano actually. Let's start from just trying to register to vote. You have a wallet that maybe connected to different wallets. ie, Eternl, Yoroi, Ledger etc. So, you pick a wallet and attempt to register to vote. However there is nothing that lets you know if that was done correctly. Instead, you have to wait until AFTER the snapshot is taken before you can attempt to connect your voting app to the wallet you registered with. If it doesn't work, well... You're just screwed until the next time voting happens. You lost your vote this time though. I believe this needs to change. A person should be able to connect to the voting app after they have registered to vote, to ensure everything is working on their end prior to the vote. Get that solved first, and then we can discuss other issues.
There’s too much drama and fud on cardano. So Thank you for the video
I cant believe that some people compare Minswap to the CF. The Ada of the CF was assigned to them while Minswap let the community vote
can you create an video on how to be involved in governance and voting using our wallets some of us are new and we what to learn also what are the benefits in participating. most only know how to stake
Thank you Pete.
I still can’t believe that 150000 ada was allocated to fund a calendar 😂
A better way might be to have a dapp for raising funds, where people invest actual ada to projects and in return get some token from that project. voting without anything at stake is always a bad idea. not sure how projects without a token will get funded but maybe they shouldn't be funded in the first place.
How is it unfair? Cardano foundation is part of the ecosystem. Everyone should be allowed to vote. Everyone. Cardano Foundation is not an exception. You want more voting power get more ADA then.
I dont understand why they cant find a way (using midnight kyc) to have only unique individuals (instead of wallets) vote......and then on top of that maybe segment tiers of ADA that you own to accomodate for those that are heavily invested have more voting power than those that have 25ada (which is understandable because some are simply more heavily invested which entitles them to a bigger vote......yet the 'unique individual' aspect will keep it at bay.
Could you make a video on how to participate in governance? I don’t even know where to start.
A place to start changing is instead of 1 ADA 1 vote....make 1 wallet 1 Vote...if you want to take your whatever amount of ADA and make however many wallets to influence voting that will take significantly more effort to do so.
until someone makes a dapp
I dno, it wouldn't take long to write a script
Nah one govt identity per wallet that needs to scan your face to confirm the transaction
Vote weight limits would help
Loved it
Can ADA reach 3usd in 2025?
Thank you!
You're welcome!
Do you think ADA can go $5 next month?
Nope, but tomorrow!
There's way more than 180mil ada being allocated to Dreps. So if your trusting a Drep to make good decisions for the ecosystem, why would you have a problem with the cardano foundation doing the same?
Watch for conflict of interest voting by CF.
How to setup wallets for voting? You download a tool? Or become a drep?
A bit controversial but I think that people either need to delegate to a Drep/vote on their own behalf, or have ADA staking rewards halted. Don’t participate, don’t get rewarded, simple
Stopping staking rewards can't be the solution because it would critically weaken the network. Don't forget that staking is used to secure and defend the network. Without incentives to stake, staking would diminish and the network would become vulnerable to attacks.
ADA going to boom in 2025, $6 minimum.
its bs. two wrongs dont make a right. the cardano foundation designed project catalyst and knew good and well what would happen and now just joining in
Cardano Foundation did not design Project Catalyst.
Project Catalyst spawned from under IOG.
Somewhere it was mentioned that CF was critical of how Catalyst was run and how votes could manipulate the entire process. It is written in the blog post in the comments and the link to the Townhall video is here: ruclips.net/user/liveO-4P0h1Cd30 but has since been made private.
It makes Cardano look like a centralized blockchain.
Far from centralisation. If they used all of there ADA I'd say wtf.
ladies and gents the counter of drama in the cardano ecosystem is again reset at 0 days lol
at least its not a counter of how many days since blockchain went offline lmao
@@atrociouscyyour right, or got hacked. It's a good thing, now we get to debate on it and work out an improvement
omg lol... yes at least it isn't days since offline...lol
yes thats right. still no downtime or massive exploits unlike many other chains.
i hope your voting good for me :) i delegated to you, is there an easy way i can track what you use it for? i need to verify its being used correctly even though i trust you