🖐️Introduction
Introduction to PQV (Probabilistic Quadrating Voting)
Last updated
Introduction to PQV (Probabilistic Quadrating Voting)
Last updated
DAO (Decentralized Autonomous Organization) has emerged as an innovative way of building community organizations in Web3. Current centralized organization can only reflect opinions of top managements, however in the new DAO based governance, many of stakeholders can participate in the decision making process based on smart contract.
Already DAO voting platforms like snapshot, Tally are helping more people to build improved community. The key for building successful DAO is making a fair governance system, which makes many of community members make their voices and lead the group to the better direction.
Our Probabilistic Quadratic Voting(PQV) is going to enhance Web3 ecosystem by stabilizing voting environment and make decision making process fairer [1, 2].
Quadratic Voting(QV) is the most optimized voting system [3]. However, it is exposed to the danger of Sybil attacks.
To the best of our knowledge, PQV is the first sybil-resistant quadratic voting system. By adding probabilistic factor to the existing quadratic voting system, PQV made the Sybil attack situation less profitable for attackers.
PQV contributes to the DAO ecosystem by (1) providing healthier voting system through (2) releasing PQV contract, named Governor C, as an open source.
Anyone who wants to build Web3 community in fairer way can use PQV easily by using Governor C. Governor C is a fully decentralized, Sybil-resistant quadratic voting contract based on PQV and Chainlink VRF.
In the rest of the document, we describe our protocol in four part:
Background
Explanation on PQV
Usecases of PQV
Development guide on Governor C
