LIP-1: Formalize the LIP process

Please see the full details of the proposal on the Loot Talk forums: https://loot-talk.com/t/lip-1-loot-improvement-proposals-establish-framework-and-guidelines/828

As we near the end of the vote on LIP-0, it is clear that the Loot community must now make a series of critical decisions on the fate of the remaining Loot bags. Until this point, the process through which we have gathered community sentiment and held Snapshot votes has been organic (and often messy). We believe there is an opportunity now to align the community around a shared framework for decision making. This will provide clarity and introduce a predictable process for how community discussions become formal proposals and ultimately votes that influence the future of Loot.

In LIP-1 we have defined a set of guidelines and standards for the lifecycle of community proposals and Snapshot votes. This framework provides a foundation which we argue enables the Loot community to build consensus and cements the legitimacy of our decision making powers.

Author: @hierux Co-signers: @tracheopteryx, @paperhands