Why Weighted Voting?

Making critical decisions that shape the future of Papaya requires a governance model that not only empowers active contributors but also aligns incentives with the long-term success of the platform. Weighted voting acknowledges and rewards those who actively contribute to Papaya’s ecosystem. It incentivizes users to participate meaningfully, whether through liquidity provision, platform development, or long-term commitment, by giving them a proportional say in protocol decisions.

In order to remain aligned with the principals of decentralization, Papaya is implementing the quadratic formula as a mitigator to centralization of voting power.

As an example, if one voter has 100 tokens, their voting power would be the square root of 100, which is 10. However, if another voter has 1,000 tokens, their voting power would be the square root of 1,000, which is only 31.6

This demonstrates diminishing returns as the voting power does not linearly scale with token holdings, reducing marginal voting power for whales, balancing influence, and encourage participation from all users.