The ‘ve’ style governance tokens have been saying great interest over the past months. I believe there are a number of reasons for their increased success.
Perhaps most overlooked at the moment, is the fact that DeFi is becoming increasingly familiar with ve tokens. Entire projects are being built around these systems, most famously Convex, but the list is growing longer by the week. Shifting to a veKNC token could greatly increase participation within the kyberDAO if only by proxy through integration with these types of projects.
The ve style tokens are also excellent vehicles for rewarding long term stake holders and aligning their interests with the underlying protocol. This is because users can lock up there ve tokens for X amount of years, and votes are allocated based on the locking duration. Similarly, users who lock their tokens the longest could receive a higher weight of protocol fees and/or other types of incentives.
Getting broader interest from DeFi as a whole to participate within the kyberDAO can help direct liquidity incentives to where they are most needed and in turn prove to be a great boon to both TVL and protocol fees generated by Kyber. Considering the multi-chain presence Kyber already has, along with it’s upcoming ZKrollup, we seem to be well positioned to get far more users involved with the DAO. Perhaps all we need to make it happen is a little push into a governance design space people feel more familiar with.