Frax Governance Process

Updated to reflect 5 and 10 day discussion period per community feedback

Governance Discussion: https://gov.frax.finance/t/fip-1-frax-governance-process/27

This proposal establishes the following governance process for Frax:

Proposal Development and Discussion

With the exception of non-controversial parameter adjustments by Frax developers, all proposals must be posted to the governance forum and have a discussion period prior to vote.

• 5 day minimum discussion period for all proposals except meta-governance or FXS emission related proposals.

• 10 day minimum discussion period for meta-governance or FXS emission related proposals.

Meta-governance proposals are proposals that change the governance process of the Frax protocol or impact how the protocol is governed. Emission related proposals alter FXS emissions. Unless they seek to establish recurring FXS incentives, proposals for the DAO to spend FXS from the treasury are not emission related.

Forum posts of proposals should include a forum vote for feedback and signaling. Final proposals must be posted on the forum under the FIP category. Links to the Snapshot vote need to be included on the same thread.

Voting Process

Voting currently take place on Frax’s Snapshot.

• 5000 FXS is the minimum amount of FXS to start a valid Snapshot vote.
• Votes must be for a minimum of 3 days.
• A simple majority (50% + 1) wins the vote.
• Votes may only be binary options (for or against).

Use a signaling vote on the forum to measure more than two options.

Quorum

• A quorum of 5% of the circulating supply of FXS is required for the result to be valid, unless the proposal alters meta-governance or FXS emissions.

• For meta-governance or FXS emission related votes, a quorum of 10% of the circulating supply of FXS is required for the result to be valid.

• The circulating supply calculation is based on the block of the Snapshot vote.