PSP-IPΔ6: Defining governance process and parameters

1. Proposal Number & Name

PSP-IPΔ6: Defining governance process and parameters

2. Keywords

PSP governance parameters

3. Simple Summary

This proposal aims to establish the main parameters of PSP governance that can be adjusted later by the DAO.

4. Context

Establishing the parameters of governance is a crucial step in the life of a DAO. It is now time to make the different steps of the governance explicit through parameters and detailed documentation.

5. Goals

The governance of Paraswap is organized around several tools in order to structure discusions and signaling the most important points. The genesis of a proposal generally follows these steps :

• Discord. Informal brainstorming and debate to explore interesting topics.
• Forum. Reasoned and discussions to come up with a redacted proposal. That is to say refining of an idea before a final vote.
• Snapshot. Voting on finalised proposals within the governance parameters.

This proposal establishes four governance parameters with the following function:

1. Minimal PSP. What is voting power required to submit proposals? The default value is set to “5400 PSP” which correspond to the first third of the initial airdrop.

2. Voting time. What is the standard duration of a vote? The default value is set to “5 days” to allow sufficient time for members to vote.

3. Quorum. How many PSP votes are needed at least for a vote to be valid? The default value is set to “3% of circulating supply” in order to prevent blocking situations.

4. Implementation delay. What is the standard delay for implementation? This parameter is specific to each proposal.

5. Means

This proposal does not require financial resources.

7. Metrics

The DAO will ensure that voting participation rates are monitored regularly. If necessary, it will update the governance parameters.

8. Forward-thinking considerations

The first PSP-IP have been made by experienced members who are obviously familiar with DAO mechanisms. The next step will undoubtedly be to onboard beginning members who wish to become more competent in these matters. This could take the form of a “sandbox session” in the discord for writing proposals.

9. Implementation Overview

The four governance parameters should be added to Snapshot as soon as possible. Their values will be set as defaults. The governance scribes will encourage DAO members to use the forum for proposal development.

A dedicated page of the documentation will be written by “Content producers” to explain the choice of parameters.

10. Voting options

“For” “Against” “Abstain”

Discussions here: https://gov.paraswap.network/t/psp-ip-6-defining-governance-process-and-parameters/83/7