PSP-IPΔ33 : Governance framework and parameters adjustments

PSP-IPΔ33: Governance framework and parameters adjustments

Keywords

Governance Parameters

Simple Summary

Updating governance processes in line with developments in the DAO. The updates:

• Proposal framework changes (simpler, avoid redundancies)
• Proposal name update (PIP-XX and PEP-XX)
• Information “Temps check” on governance forum and discord at least 48h before submitting a snapshot proposal (for PIP only)
• Fixed date to create a snapshot, as close to Tuesdays as possible (for PIP only)
• Increase minimum to 100K voting power to create a snapshot proposal.
• Increase Quorum to 25M voting power (voting power takes account for the x2.5 boost of sePSP2).

Context

PSP-IPΔ4 and PSP-IPΔ6 established the first frameworks for the functioning of the ParaSwap DAO governance process.

With the arrival of Social Escrow and sePSP, the PSP-IPΔ22 - PSP 2.0 - Revised Voting Edition 1 updated partially this process by changing the tokens considered for voting power, their weights as well as the vote weights to make it compatible with the new system.

An initial assessment of the situation seems to make it necessary to update some of these parameters.

Goals

The aim of this proposal is to make the DAO more robust to current attacks on the snapshot, but also more understandable and accessible. The goal is to increase participation and make the DAO community grow.

Means

Update the proposal framework, journey and name - Implementation by Forum manager of the new rules in the governance forum. Increase of the minimal voting power and quorum update - Modification by snapshot manager.

Metrics

No more fake snapshot proposals, without blocking their creation manually. Increased participation in the governance process and voting

Forward-thinking considerations

The topic of delegates seems to be the natural one to follow and will need to be structured in a second proposal. It will also be necessary to monitor and adjust if necessary the parameters of vote creation and quorum.

Implementation overview

Creation and display of the new set of rules and provision of a template for DAO members (Estimated time of implementation: 2 weeks). Snapshot space parameters update (Estimated time of implementation: 1 week).

Voting options

• Apply the governance parameters update
• Do NOT apply the governance parameters update
• Abstain