Loan approval restrictions for the delegates at affiliated companies

This is a temperature check for the following suggestion:
The delegates can not lend to any companies they or any family members or friends are affiliated with or part owner of, and they cannot lend to themselves or any company, person, or anything or anyone they are affiliated with.

This doesn’t mean they cannot get a loan, but the delegate with the affiliation must refrain from voting, or trying to change the outcome in any way.
The only acceptable behaviour is telling the rest of the delegates that they refrain because of affiliation and then removing themselves from the process completely by not even taking part of the discussion or the voting.


I would even go so far as to say they can’t vote on any loans that would go out to family members/friends or the vote on loans that benefit companies of people they know/family members as well.


Great idea, added it to the description.


I am in agreement with this. Keeps the integrity of the DAO and doesn’t allow for any potential insider advantage of any one delegate member.


I would recommend that they must disclose it to not just the delegates but the entire community.


I agree. I think it is also best to let the community know as well as previously mentioned by @Khan. It is important to be fully open with holders and the community.


I believe the way way we are set up now it will take 3 of 5 delegates to allow a loan approval. If a delegate were to apply for a loan in the future that would only make for 4 total votes. Two question comes to mind:
How many votes are then needed to approve the loan?
Would the community become the “5th delegate”?
I didn’t see this mentioned so I thought I’d bring it up to the discussion.


I think we can safely say that 3 approvals are needed. If it’s a tie in that case, it’s not approved.


We could use @presidentHODL as the delegate in lieu in these sorts of situations

1 Like