1IP-13: Governance Process Improvements

Author: Bobbay_StableNode

References

1inch governance process

Simple Summary

1IP-13 "Governance Process Improvements" introduces changes to the current governance process to create a more agile yet robust process.

Abstract

It takes around 12 days to implement a change via governance. This is time-consuming, especially since there is no express pathway to execute proposals in time-sensitive situations.

1IP-13 will reduce the current governance timeline in different ways to ensure that governance changes can be enacted swiftly without compromising security. 

Motivation

The current 1inch governance framework is far too long, which can hinder the DAOs ability to execute quickly.

Specification

1. Current Process
2. Amendments
3. New Process

Current Process

The current process can be found here, but here is a summary.

Phase 1 (Discussion) & Phase 2 (1IP formalization) have an open-ended duration, so they have no specific deadline.

Phase 3 (temperature check) lasts five days. Proposals stay unchanged in this phase.

Phase 4 (Snapshot Vote) lasts seven days.

Phase 5 (Implementation) lasts a minimum of six days - This can be ignored since it does not involve the community.

This means that the current governance process (ignoring phase 5) totals a minimum of 12 days to pass a proposal.

Amendments

We recommend the following amendments:

• Phase 3 -  Reduce from five days to three days.
• Phase 4  - Reduce from seven days to five days

These changes ensure enough time to cast a forum and snapshot vote without compromising security. Across other DAOs, having a Snapshot vote last around five days is common practice. It provides a grey area between 3 days (too short) and 7 days (too long).

New Process

• Phase 1 & Phase 2  - Open-ended
• Phase 3 -  Lasts three days
• Phase 4  - Lasts five days
• Phase 5 - Lasts seven days

This new governance process (ignoring phase 5) totals a minimum of 8 days to pass a proposal instead of the original 12 days.

Rationale

The lengthy process has hindered the DAOs' ability to execute promptly in the past. This reduction will still ensure a suitable amount of time for DAO members to participate in the DAO without sacrificing security. 

Considerations

This will make it easier for the DAO to pass proposals that could open a security risk to malicious actors.

Next Steps

1. Discuss the Proposal
2. Forum temperature check
3. Move it to a vote
   1. [Yes]: Implement these governance changes
   2. [No]: Do not implement these governance changes