Set aside some CLOUD to reward top LST holders to increase voting participation

General
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Only 1,812 Unique Voters as of writing this have voted in the sanctum cloud governance.

The cloud-3 vote that passed to reward CLOUD for liquidity on Kamino, only gives to those who hold INF, they probably already vote in governance.

To increase participation in governance, I propose to allocate, if possible, some CLOUD token to top holders of LSTs, maybe to those above 1000 holders.

The distribution should be either airdropped gradually or all at once, depending on how much sol-LST they have.

In the short term it might generate more sell pressure on the Cloud token if people are not interested, but if they do join they could increase the price by having to buy CLOUD when voting and wanting a higher ASR score.

Now, if there are more participants in governance, the ASR rewards will be reduced but if the price does not increase, it will not matter.

If it’s a success we could vote on a similar proposal down the line, maybe every 3 or 6 months to get more participants.

I see it as a way to tie the biggest LST holders to the governance of the CLOUD token.

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are you thinking that ADing cloud to top LST holders will generate more mindshare on cloud/sanctum?

i don’t think there is a lack of familiarity witih sanctum/cloud in the solana ecosystem…i say this because i remember seeing viewers almost eclipse 10k in one of the first ever forecast calls

i think giving a great reason(s) to hold cloud (besides ASR) is priority

ADing cloud to top LST holders (outside of INF) IMO just increases their APY and doesn’t provide much reason for them to stake cloud and participate in governance and doesn’t really help sanctum

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Apart from ASR program is team planning to organise another incentive for LST holders?

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Agree.

1812 unique voters is imo great already. Cloud dao is very young. As long as the amount increases between each vote it is good.

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Unknown bro. Stay connected to the official socials and you’ll know when we all do. :folded_hands:

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I agree. It’s not a great spend of CLOUD as it’s just rewarding the already engaged.
And I say this as someone who would benefit from this.

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I do support incentives directly on Kamino for INF multiply users though. It’s a key way to grow the stake Sanctum have in the largest defi venue in Solana and one of the largest defi venues in all of crypto.

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how many sCLOUD you need to hold to be in the Top 1,000 holders actually?

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Agree with that, if you just give $CLOUD to the top LST holders they’ll instantly dump it to boost their revenue. If they actually cared about Sanctum’s governance, they’d already be involved IMO.

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I somewhat agree, but also think that sanctum governance hasn’t yet matured. There hasn’t been much reason to be involved. Other than a surprise huge ROI for ASR 1. :laughing:

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I tend to agree with you on this.
Yes farm rewards will be sold (they’re literally payment for lp risk after all) but you have a much better chance of engaging someone with a token they earned, that they can then stake to vote/ earn, than simply giving them more INF.
And if they sell CLOUD, just use INF to buy it back and refresh rewards. It’ll drive trade volume which helps visibility

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not that much tbh, considering we currently have 1812 unique voters

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This number is up to 2,290 now. Not so bad considering we haven’t got a vote in months.

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