Stop punishing poll-creators with a buggy system

I have been around the cryptospace for a long time, and have been blown away with the whole network. I however, after searching for mCOIN polls, finding none, forgetting about it, and then hearing of others requesting a COIN poll in the telegram chat, quickly made one. It cost 9.84% / 9.99% quorum and then failed, probably because there was network downtime for the last couple of hours.

I did not realize it at all when I made the poll that I would be losing $1,000 for creating it. This is pretty absurd! This is the first major mistake I have ever made, apparently I forgot to check for another poll when making the mCOIN proposal again. Everything was working so beautifully I did not consider that there would be a hidden penalty for creating a vote, I had assumed it was like the votes which (I believe… ) do not have a harsh penalty for proposals that do not pass.

Why is there a huge fee for not passing a proposal? I understand there might not be a desire to dilute the current assets, but what is the reason for such an extreme penalty for fomo-helping?

What is the major benefit to be gained from such an extreme risk? Why is there such a huge penalty to the users? Why is there not at the least a warning that you will lose your funds? This should be in bright red at the top (you are about to make a negative-freeroll, where you will lose or break even!) .

This is pretty broken; fix the polls. Do not let well-meaning users lose 100+mir ($1000 at the time) because of trying to help the governance system and participating. Close the poll listing until the system is fixed, with proper incentives for gambling such an amount, and alert users that they are punting in the meantime.

I suggest offering something like a 10-fold increase on the mir staked for a proposal if it passes (or maybe more), removing it as an option, or fixing the poll-creation to properly warn users (others have and will make the same mistake until it if fixed, unless intentionally a black-hole for funds!). Clear incentives need to be in place, and clear warnings for the suicide-polls.

TLDR: with good intentions, I lost nearly 5% of my life savings in a few clicks by making a mirror poll, without realizing it was a terrible, terrible gamble that was almost surely a complete loss with no upside, and these situations are predatory and should be removed (governance should if anything encourage participation, not penalize it).

2 Likes

Sorry that happened. Maybe drop your address to see if someone wants to hook you up…
v2 seems to address some of your concerns

Sorry this happened to you. Personally while i dont degree with the current way the system punishes proposals , it should punish frivolous proposals as a mechanism to discourage such proposals. In your case , you made a mistake , and a testament to the MIR community we were damn close to making that vote pass, and people were actively advocating on your behalf and trying to get people to vote for your proposal so that you didnt get slashed. You made a mistake, the system is working as designed , and unfortunately on the last day of your poll MIR had a huge rise in price and people rightfully did not want to allocate funds to a poll that was a duplicate and meaningless to vote on.

In the short term as a decentralized organization i would suggest we consider lowering the MIR deposit requirement for proposals. I would suggest 25 MIR .That way risk is mitigated for unsuspecting users. I also fully support putting a warning on the MIR governance page and will advocate for this.

For users considering polls in the future, i encourage you to engage with the community about your idea or proposal in the forums and in our social media channels . Also please familiarize yourself with the documentation here Governance - mirror

I appreciate you for posting this, I just wanted to add that I was also unaware I would lose the MIR if it didn’t get passed. Glad to hear there will be a warning added to the governance page