What's a recognized delegate?

Recognized delegates

In order to encourage active delegate participation in governance, the DAO will be able to elevate a delegate’s status from community delegate to recognized delegate.

To qualify as a recognized delegate, a community delegate must satisfy the following criteria:

• Has been active as a community delegate for at least 4 months;

• Has voted on at least 75% of NIPs in the prior 4-month period (Abstain votes qualify);

• Was delegated at least 250,000 NOTE tokens from at least 3 delegates.

After the initial 4-month period (Dec 2023 - Mar 2024), the DAO will formalize the onboarding and offboarding conditions for recognized delegates.

Recognized delegates compensation

Recognized delegates will not be directly compensated during the first 4 months of the delegate program (Dec 2023 - Mar 2024). We think it is preferable for NOTE and sNOTE holders to be able to see which delegates actively contribute and bring value to the protocol without being directly compensated.

After this initial 4 month period, the DAO will be able to more effectively assess how it should compensate its top recognized delegates on an ongoing basis. For example, the DAO could compensate a certain number of Notional’s recognized delegates based on how much delegated voting power they amassed.