Meta-Governance

Background

Per Proposal #QmVoNBV, 1% of circulating supply is required to submit a proposal and a proposal passes with (1) Majority Vote and (2) 15% of circulating supply voting YES.

Proposal

0.5% of circulating supply is required to submit a proposal (~1,200 $DG as of today) and a proposal passes with (1) Majority Vote and (2) 10% of circulating supply voting YES (~24,000 $DG as of today).

Rationale

1% of circulating supply was ~$15,000 when $DG launched and was ~$60,000 when Proposal #QmVoNBV was passed. Today, it's $340,000 USD. Setting the precise bar to (1) Encourage community participation and (2) Ensure we receive proposals from those with a material stake will always be a judgement call, but the sense is that that 1% is a bit too high and 0.5% would be more appropriate at this stage.

Following the failure of Proposal #QmcgLZz to pass even though it received 30,520 $DG YES and 0 $DG NO has led us to conclude that 15% of circulating supply (~36,000 $DG) is too steep a quorum requirement. Reaching 10% would still require significant community support.