As I said in the Why aren’t MKR Holders voting? thread, I don’t think vote delegation is a good thing and we shouldn’t be striving for it.
MKR tokens exist to govern the system as best as possible and delegating your vote doesn’t fit in that description for me. I assume everyone holds MKR to eventually make money on it, by the appreciating value the token is expected to have if the system proves to work. In that regard, delegating your vote is like saying
Here, you do the work, I’ll just be here occasionally watching the value of my holdings rise
I can understand not everyone can spend a huge amount of time on keeping up to date on everything but it should be a goal or ambition for MKR holders. This system simply can not work as intended without a diverse group of people doing their own due diligence on a frequent basis.
I really wonder what makes everyone think that people who don’t vote themselves, for whatever reason, are going to bother retracting their delegated MKR when it is being abused (before it is too late)?
The whole point of having MKR is that you can vote entirely independent from everyone else and it seems, the second people will have the chance, they will stick it together in large groups? Like I said before, delegation is centralisation in this context.
Vote delegation will come but it should not be expected to be the fix-all for a low participation rate. While the number of staked MKR in voting might rise, the actual people engaged with voting might be going down since they won’t need to be paying attention anyway.
Maybe I’m wrong but I think it’s worth thinking about.