Quadratic Voting is a new methodology for voting that allows users to allocate voting credits to their options of choice. Each voter is given a budget of “credits,” whereby every additional vote after the first gets more “expensive”.
The cost of each vote increases by the square of the votes, hence quadratic.
<aside> 💡 5 votes x 5 = 25 credits
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Rather than a binary vote, YES/NO, QV allows voters to show their preferences and spread their voting power across as many options as possible. I.e. if you have 100 points to distribute across 100 options, you could give each option 1 point (1 vote x 1 = 1 point)
However, if you want to go the other way and wish to give all your points to one option, you could give it 10 points, but that would spend all your points because 10 votes x 10 = 100 points.
If you give all your credits to one option, you are no longer able to spend any more on any other options, so doing this is generally a bad voting strategy.
With this app, you will use quadratic voting, but the interface will be abstracted away from the numbers and provide visual feedback rather than numbers going up or down.
A key issue in quadratic voting is ‘Sybil Resistance” or the ability to protect against users from generating multiple accounts to skew consensus. Our SBT gating system ensures that only those holding an SBT can vote in the system, limiting their ability to “split their vote” across multiple accounts.
SBTs as governance tokens affords a far greater expressiveness in the design of decentralised governance systems than the current one coin, one vote approaches. By combining SBTs with quadratic voting, nuanced and dialogue driven decision making can be brokered, whilst maintaining pseudo anonymity.