Remove ZYRO from LIP-5-C for Voter Fraud

ZRYO Bribed ZWAP votes to manipulate the outcome. Hence ZYRO disqualifies.:

The outcome of this proposal: ZRYO will be disqualified and 1 AP will be transferred to ZWAP-ZIL pool.

Abstract
In real world election/governance, it is illegal and wrong to give monetary value for individual votes while it is acceptable to promise benefits to identifiable groups. Based on this, it is found that ZRYO founder provided ZYRO tokens to one big ZWAP holder for votes to get qualified in lightning which is illegal and fraud.

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Evidence of ZYRO

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Motivation:

The behavior of buying votes if left unpunished, will create greater level of manipulation in future votings. ZILSWAP ecosystem will suffer from illegal practices and bribery. It will cost to investigate each and every project but if we already know projects like ZYRO has practiced this illegal vote purchase, it is our duty to punish the proven-wrongdoings.

Specification:

We need to decide this in 3 way. Whenever a project is found practicing fraud and illegal process to benefit themselves, either we have to warn it or remove it or ban it from receiving any such benefits.

Warn: ZYRO vote buying is only wrong morally.

Remove: ZYRO vote buying is illegal but project is legit and this action can be corrected.

Ban: ZYRO vote buying is illegal and threat for ecosystem

  • Warn ZYRO
  • Remove ZRYO
  • Ban ZYRO

0 voters

@Snowsledge please consider this

Since you pinged me, I will give my personal opinions. I don’t think we should vote a pool out because of this reason.

The only thing ZWAP holders should be concerned of is if the rewards to a pool will drive up the DEX’s trading volume. If yes, go ahead. If no, drop the AP to the pool.

I could care less what goes on behind the scene. This is not a democracy. This can happen behind the scene for all tokens btw. I’m pretty sure many of the qualified pools’ token teams gave out some form of incentive to get itself qualified i.e. “bought” votes with an airdrop of their own tokens.

1 Like

If not democracy what is it than?

A Decentralised Autonomous Organisation (DAO).

again, Mike from zyro, since this is brought up, here are my thoughts:

  1. totally agreed with Hanwen, this is the ground of democracy, as long as candidates play by the rules, the outcome should be solid. plus this is actually a very established model in EOS node voting and upcoming polkadot PLO.
  2. i believe voting power should be connected to incentives, otherwise the power itself will drain. the incentive create extra benefit for zwap holders, which is totally positive.
  3. as Hanwen mentioned, all projects could have done it under the table, the reason why we do it publicly is that we want all users voting for zyro have the equal benefit, instead of ‘bribing’ the ones who hold majority votes, we believe this is better than deals under the table.
  4. having zyro in tier3 is benefitial for zilswap. zyro is one of the first defi adventures on zilliqa, and the first one enables ‘mining’, zyro has educated hundreds if not thousands users with the concept of amm dex and farming, equipt them with the tricks and knowledge of IL. incentivizing those edudated users to get more involved on zilswap definitely is positive for zilswap.
  5. its the spirit of defi, zyro would also allocate mining reward to zwap pool when v2 is launched, i believe this is good for the ecosystem of zilliqa