XIP#1 - Implement standard Governance process and proposal format

Author

• Finesseboi

Glossary

• DAO
• Quorum

Summary

• Implement standard operating procedures for governance.

Rationale

• Goals of a Good Governance Process:
• Make good decisions.
• Governance process should be transparent and clear.
• Encourage contribution and involvement.
• Make sure opposing views can be heard and considered.
• Make sure a proposal is technically feasible.
• Keep the governance process moving and free of gridlock.

Effect

• Opportunity
  • Proposals will be standardized and decision making can be more effective.
  • Increased Transparency and increased accessibility to “informed” Governance.
• Risk
  • Opinions that are worth less than their voting weight can have a bigger influence.

Specifications

Implement format below as standard/required proposal format

• Authors
• Glossary
• Summary
• Rationale
• Effect
  • Opportunity
  • Risk
• Specifications
  • Explanation of process behind implementing proposed objective
• Funding request - (y/n)
• Communication
• Proposed points of discussion.
• Notes on required Quantity and time for Quorum
  • Where to discuss and requirements before the official proposal
  • Where and how to vote

Implement a standard Governance Process/Flow

• What requires proposals/what doesn’t

• Discord

  • Gauging for Opinion/Ideas.

• Discourse

  • Write a concise title and understandable (aka non-tech/Eli-5) summary.
  • Formulate clear for and against positions for binary proposals, or a scale of options with an “Against” option for numerically based proposal. Try to get proposals down to the minimum amount of options
  • Include a poll to measure sentiment (public, results on vote).
  • Don’t rush submitting a snapshot proposal, keep the discussion going for at least 3 days.
  • Stick to proposal format.
  • Discussing proposed points.
  • Refining.
  • Final Draft (if first is a draft).
    • Proposal + Poll (Quorum required).

• Snapshot

  • Pre-requisites: It is expected that the proposal has been discussed on Discord and the forums for approximately 3 days and “the community signals its interest.” Enforcement of this rule falls to social consensus.
  • Copy and paste from final discourse proposal with discussion points removed.

• Aragon

  • What requires proposals/what doesn’t.
  • Quorum required?
  • Notes.

• If a proposal does not follow these steps, it is invalid.

• If a proposal does not get more than X votes in total, it is invalid.

• All rules can be modified by a valid proposal, but “fully discussed with the community” should be the principle.

Funding request - No - Implementation does not require funding

• No funds required.

Communication

• Draft: https://forum.nftx.org/t/draft-proposal-governance-process-and-proposal-format/62/4
• Final: https://forum.nftx.org/t/xip-1-governance-process-and-proposal-format/101/2
• Discord: https://discord.gg/xcJkxMXSR8

Quorum and Governance Notes

• Minimum Quorum: More than 10% of circulating, non-treasury NFTX must participate for a proposal to Pass.
• Passing Threshold: More than 50% of voting tokens must vote FOR for the XIP to Pass. For changes to the NFTX contract, more than 70% of voting tokens must vote FOR for the XIP to pass.