ADA in DeFi such as Minswap LPs currently cannot take part in Catalyst voting. However, this ADA can be registered by Minswap Labs, and a vote can be conducted on which proposals get upvoted.
This proposal aims to establish a workflow voting process for that with the following steps:
- Registration of ADA in Minswap LPs on Catalyst: registering for Catalyst voting requires only the stake key. The Smart Contract’s payment key remains inaccessible, ensuring that no one can sign transactions that would involve moving user funds.
- Filtering Proposals: a group including community volunteers will collaborate to filter the current 1,000+ proposals down to 50, focusing on DeFi Proposals. A List of Proposals will be shared with all the filtered Proposals, why they were chosen, and the score in Catalyst assessment.
- $MIN Holder Vote on Proposals: the 50 proposals will be subject to a vote among $MIN holders. Minswap LPs are rewarded with $MIN and actively participate in the ecosystem, their vote on proposals is crucial.
- Catalyst Voting: The Top 20 Proposals, as chosen by $MIN holders, will be upvoted on Catalyst. Minswap LPs will participate in the voting process based on the $MIN Holder Vote on Proposals, making the Minswap DAO one of the most significant contributors to the Catalyst governance process.
