Hello everyone,
I have been exploring the governance model of Polkadot and have a few questions for you that kept popping into my mind. The Polkadot governance structure enables the council to run a referendum which means decisions are made in a decentralized way. However, I wonder how effective this model is going further. Are there things that can be improved in this process further?
For example, concerning the approval of parachain slots or proposals, do you believe the overall voting participation is wide enough to capture the other members of the community? And how about the delegation scheme - is it sufficiently decentralized, or is there excessive concentration of voting power in few large holders of DOT?
In addition, for those who are planning to bid for the parachain slots that are to be auctioned, how do you think it will be possible to maintain equity so that smaller projects compete fairly with bigger ones?
I am eager to hear your ideas and observations, and whether you were able to pinpoint any positive or negative feature of the governance system which caught your attention.