Increase the veEXTRA Requirement for Proposal Submission

Summary

In order to enhance the quality and impact of governance proposals, we propose to increase the threshold for submitting proposals on Snapshot from 10,000 veEXTRA to 30,000 veEXTRA. This change aims to ensure that proposals are more thoroughly considered and backed by a significant portion of the community.

Rationale

The current threshold of 10,000 veEXTRA has been effective in encouraging community participation. However, as our protocol grows and the stakes become higher, it is crucial to adapt our governance processes to ensure that they reflect the needs and the will of a more substantial portion of our community. By increasing the threshold, we aim to encourage proposals that have wider support and are more thoroughly prepared before reaching the voting phase.

Implementation

Upon approval, the new threshold of 30,000 veEXTRA will be implemented immediately for all new proposals submitted on Snapshot. This change does not affect the ongoing proposals and will be applied only to new submissions post-approval.

Additional Notes

The importance of flexibility in governance is recognized, especially concerning operational and minor adjustments such as credit tweaks. Therefore, discussions of this nature will continue to be allowed in the Discord's 'convos' channel (https://discord.com/channels/1009330898967212063/1186597180010663986) , ensuring that the community can still propose and debate smaller scale changes without needing to meet the new higher threshold. We also encourage all proposals to be thoroughly discussed in the 'convos' channel before being submitted to Snapshot.