We have the Liquidity baking toggle vote
Now that USDT is on Tezos and a discussion about adding USDT to liquidity baking happens here or in other social media chats - what about giving this power to the bakers directly? And not via proposal.
A baker can inject a proposal to change/add USDT to liquidity baking simply like the escape hatch toggle vote is working. Other bakers can vote yes/no on that and if the treshold is met for example 2/3 then the asset gets added/replaced etc. I say 2/3 so there does not happen a change every month, for that we need a big majority.
You can add a timeout for such votes that if it does not meet the treshold in a timespan of 30 days it gets declined and votes reset. Then a baker could inject the same vote again if he would like. The timeout idea because to not have a ton of votes that are “pending” after some months.
I see this as a really nice solution to decide about liquidity baking pairs or even the sunset etc.
What do you guys think about that?