The Stakewise Snapshot.org portal allows anyone to submit a proposal, and we’re currently seeing proposals with fake links to altered websites that encourage users to connect their wallet and sign transactions. This is a very common scam and has affected most projects that use snapshot or similar.
I’d like a proposal to alter the threshold to deter smalltime scammers like the one detailed below. For example something of the value $5k to $20k i.e. 50,000 SWISE to 200,000 SWISE. Small holders can still submit ideas, but permissionless anonymous creation of proposals will be spammed less.
(This current scammer only owns 10 SWISE tokens)
I’m happy to create the proposal, but it’s better to get some opinions on how many SWISE should be the hurdle to submit. It will only matter if the majority voters vote yes, and the SWISE Snapshot admin agrees to update the proposal threshold.
Please let me know your thoughts on how many SWISE to limit, and who can/will proceed with taking this to a proposal for voting?
Fully onboard with the idea - the team has been discussing the same over the past week.
Personally, I would be in favour of having at least 10,000 SWISE to initiate a Snapshot. However, scammers are getting more elaborate and rich with their schemes, so it might not prevent them entirely.
The team has spoken with the Snapshot folks and it seems like a moderator can be set for the StakeWise snapshot page to flag malicious proposals faster. A DAO vote is required for this too.
In light of this, I suggest that we both raise the SWISE ownership threshold, and introduce a moderator from the team’s side to minimize the chance of malicious proposals being submitted. Let me know your thoughts!
This is the introduction of censorship; in the future, this moderator can reject “undesirable” proposals, and not just scam. In my opinion, it is enough to introduce a high swise threshold for making proposals.
I like both the idea of a moderator, and a 100K min SWISE threshold for proposals. Out of interest, where would the 100K SWISE go to? If a malicious actor scammed money as a result of their post (like in the recent example) can it be used to recompense any users who loose money as a result. [100K SWISE is close in value to the 12ETH that someone recently lost, ,if I recall?]
Yes of course, but since the proposals are removed every day they would have to repeatedly do that and tie up working capital in a wallet that might get blacklisted any time. This makes it preferable for them to go elsewhere. If they are persistent, the threshold can also be raised. Generally the scammer doesn’t keep much in their live account, preferring to drain it to wherever they are washing it.
A moderator seems like a great idea. I see the merit in having a threshold but also value accessibility. 100k SWISE quickly translates to $10k, which I find to be a significant amount. Coming from a Western economy, I couldn’t afford that during my student years. I assume this is still quite a substantial sum. I would prefer the threshold to be at 10k SWISE / $1000, precisely to keep the free minds of tomorrow engaged. After all, it is the future of finance.
folks i think we need to take this proposal to completion.
personal thoughts are that @mcdutchy raises a valid point - the purpose of our snapshot page is to enable as many SWISE holders as possible to participate in the DAO’s direction, including via proposals, and a lower threshold is a good way to achieve this. so IMO we should keep the threshold low.
of course this does nothing for the protection of our Snapshot space from scammers. as a remedy, having two moderators (one from the community, one from the team) could be the solution that protects the Snapshot space from the potential team capture, provided the chosen community member is a large SWISE holder (let’s say >100,000 SWISE) and is demonstrably active in our DAO (hence is less likely to be corrupted).
hey all, we have published a DAO Snapshot that will implement the following changes if approved:
Increase the reality.eth bond to 200,000 SWISE from 100,000 SWISE to make malicious attacks on the protocol more expensive.
Add 3 addresses as moderators for the Snapshot space, capable of removing malicious proposals from the space. Two addresses belong to the community (@brianchilders and @amphoria) and another belongs to the team. We believe the addition of moderators will make fighting scams more efficient.