[STP#1] Formalising STP Governance Processes

Objective:

Create and streamline STP governance processes to encourage active participation and remove friction from the process

Type:

Protocol

Deadline:

NA

Motivation (Why):

Currently, there is no formal governance process established with clear processes and timelines for token holders to participate in decision-making as part of the DAO. This proposal aims to clarify the process and align stakeholders.

Body (What, How, Where, Who):

Given that the STP network is growing, it is important to enable participants to contribute to the DAO transparently.

This meta-proposal seeks to establish a 3-step process to simplify our governance process. This will be consistently improved based on community feedback and ongoing learning.

Below is outlined a 2-phase approach moving towards the autonomous execution of proposals and a self-sustaining governance ecosystem run by all token holders.

Step 1: Ideation and Discussion (Discord)

• Proposers must create a new topic in the #Proposal Discussions channel.
• This channel serves as the hub for proposals. This is where contributors and participants can discuss details about the proposal, ask questions to the proposer, share feedback, and ratify the proposal before it goes to voting.
• All proposals must follow the following template. (Link to template)
• Proposals can be of two types:
  • Community: Aimed at promoting/funding activities that grow the STPT community, improve visibility, or incentivize participation in ecosystem projects.
  • Protocol: Aimed at improving the STP protocol, this might be through changes in the governance processes, DAO constitution, or additional measures.
• Proposers are encouraged to reach out to contributors, token holders, etc., to discuss the proposal and build interest. This is also a temperature check to ensure there is enough interest leading to the proposal being passed.
• Once the proposal has been finalized, it is assigned an ID by the steward, and it can move into voting.

Step 2: Voting (Snapshot)

• The proposer can create a new proposal on Snapshot.
• The proposal will be open to vote for 120 hours.
• Token holders are encouraged to delegate their votes to community members if they cannot vote.
• If it achieves quorum, the proposal moves to Execution.

Step 3: Execution

• There is a 24-hour cooldown period after the proposal is passed.
• Once the cooldown period ends, the Next Steps section of the proposal will be executed by the respective stakeholders.

This constitutes Phase 1 of the improvements. After gathering insights from the above process, we will implement Phase 2 in Q4 of 2024. This aims to automate the execution of the next steps when smart contract changes/code execution is involved.

Phase 2 will enable users to make certain protocol-level changes automatically once the proposal is passed. It can initially be tested out with the STP Grant Program processes being fully automated.

Eligibility Criteria

Voting

• All token holders holding more than 1000 STPT tokens can vote in favor of/against a proposal.

Creating Proposals

• Any individual or group can contribute by drafting a proposal and lobbying for votes. All ideas that contribute and help the STP ecosystem grow are welcome.

Governance Process Review

The above process will be evaluated and reviewed based on community feedback. All suggestions can be captured in the Discord thread and implemented in 2-month cycles.

Next Steps:

Once this proposal is accepted,

• Gitbook section on Governance processes to be amended.
• A Discord forum channel called #Proposal-Discussions to be created.
• Template and best practices to be pinned in Discord.
• Core contributors and stewards to be chosen.