The highest groups of bag holders aren’t delegators nor indexers, as you can see by the staking metrics:
So, there’s more GRT unstaked/undelegated than staked/delegated.
The voting is normalized so that all three groups have equal voting power (33% each), the only difference right now is that indexers tend to be more engaged in the network, thus are more likely to vote, while delegators aren’t actively voting as much (or maybe they are but just are supporting GIP-0002 more often than not?), let alone the biggest group which is just token holders, most likely 0 participation in the voting process since they aren’t even delegating.
This is literally the first GIP, and probably is close to 99% approval since most active members agree that the solution is needed and is needed fast, because indexers haven’t been able to pay for anything (with their rewards) for up to 8 months and counting, and the only way the can do it right now would screw them and their delegators as well by stopping operations for 28 days, which isn’t good for anyone.
Also you are making assumptions on whether future improvement proposals would be approved or not based on whether they benefit delegators or indexers while we are just having our first voting phase and have no further objective evidence of that being true.
To give you an example, we have discussed another proposals which would greatly benefit delegators by heavily improving the cooldown system, so it’s more clear and beneficial for them. That proposal should be approved quite easily, unless there’s some technical limitation to the implementation that I don’t know about.
There are also some discussions to level the playing field for delegators going forward, so that they have the same access to rewards as indexers will with this proposal, the only reason that the two of them aren’t voted in the same proposal is that there are technical limitations on how to implement the same feature for delegators, which delays the delegator implementation.
Since the indexer solution is time sensitive (because it’s been already 8 months since most of them started working basically for free), I don’t see why this can’t be approved as quickly as possible, since it’s not a retroactive fix (meaning that all the rewards generated up to this point WON’T be accesible for indexers to withdraw), and most likely there won’t be a lot of GRT generated and withdrawn by indexers by the time delegators have an answer on how to level the playing field.
While I do agree that I would have liked for this GIP to go out with a 28 day thaw for indexers instead of instant withdrawal (so the GIP would pass without any kind of tensions because of misunderstandings), adding that feature would take valuable time in a time sensitive situation. (Re-implementation, testing phase, audit phase, proposal discussion again, proposal voting again, council meeting again).
Another thing to take into consideration is that everyone is just assuming that indexers will dump when the GIP is released, which makes no sense, since indexing is literally their business, if GRT goes down, so will their business…
Also while there’s no reason for indexers to dump GRT (they will use part of the rewards to pay for the infrastructure, so indexers selling GRT is of course intended, just as miners selling ETH or BTC to cover for their costs), you could also argue that they could technically do it anyways by stopping operations and withdrawing 28 days later, since the indexers will always be the first to withdraw if they indeed intended to be malicious, because they will be the first to know they stopped operations, and thus triggered the 28 day period.
