Team members at 1inch, the Ethereum-based crypto exchange aggregator, are weighing a change to its governance system that proponents say would weaken the voting power of insiders and give the broader community of token holders more sway.

In a community call on Friday that CoinDesk attended, Jordan Reindl, a member of 1inch's community and governance team, proposed the protocol dilute the voting power of insiders who have received their full allotment of v1inch vesting tokens, a derivative token redeemable for 1inch. Conversely, v1inch tokens that remain locked up for two years or longer would have 100% of their voting weight, the proposal said.

The current system "kind of gives investors a disproportionately large amount of voting power, especially if their v1inch token contract is fully vested," Reindl said on the call.

(by Danny Nelson and Nick Baker)