Become a dRep - Delegate Representative in Catalyst
Join the first dRep cohort. How? Read on!
Today we are reopening interest to join the first cohort of dReps. This group will play a pivotal role in shaping Cardano's governance, and will work with IOG and others to grow a lively and collaborative team. Joining the cohort will support your future candidacy and dRep profile, and develop your position as future leaders of Cardano. You will have opportunities to share ideas, process improvements, and engage your fellow peers - truly teaming up to define the early stages of governance. As we move through the next few weeks, there will be organized workshops, training, and support on-hand.
One of the aspects we are most excited about is how ada-holders (voters) can share or split their voting power to dReps. This contributes to the collaborative and team essence of delegation. Many, if not all dReps, will have voting power delegated to them from the same ada-holder, stressing the importance of careful deliberation together, and seeking each other's advice as proposal are considered and, ultimately, voted on.
Additionally, delegating voting power does not mean rewards are forfeited, and for those who become dReps, your rewards will factor in the time commitment and dedication the role entails. For transparency, it's a time and community commitment that is considerable and we expect the role to take up a significant part of someone's working life. The incentive model will reflect the importance and time commitment for this responsibility - more on this to come.
To note: delegating voting power to a dRep (or multiple dReps) is always optional and can be recalled after each funding round (as long as it’s before the snapshot deadline). On top of that, ada-holders can split their voting power between themselves and their chosen dRep/s (to maintain freedom to vote directly). Absolute Liquid Democracy is a powerfully flexible structure.
Anyone can be a dRep, and if you are excited about decentralized governance and delegation, register your interest to join the first cohort. Currently, there is one prerequisite to becoming a dRep - you must have voted at least once on a proposal within Project Catalyst, but if you have not voted yet, there is an upcoming opportunity for Fund8 proposals that will make you eligible. We will share a list of minimum requirements soon, although don't let that put you off registering your interest!
To register your interest to join the first dRep cohort, please complete this form and we will be in touch shortly with next steps.
Note: This form will require you to submit a motivation letter with a minimum character limit at the end (about 500 words). Please take time and diligence to write a thoughtful submission.