VIP-2 Amendment: Expedited Governance

Summary

The objective of this proposal is to extend the scope of VIP-2 by introducing an expedited governance mechanism.

Rationale

Our previous governance and decision-making experiences have shown that our conventional 14-day governance process (assuming no changes on Discourse) can be too slow for some high-stakes scenarios. Therefore, there is a pressing need for expedited governance timelines.

Overview

Proposal Title: Proposals seeking expedited governance should include FAST TRACK in their proposal name.

Initiation and Classification: Expedited governance proposals can only be initiated and categorized by the core team and whitelisted addresses/entities, initially limited to core only. The core members will have the authority to add or remove whitelisted entities through a majority vote.

Spending Limit: There will be a predefined spending cap for ValleyDAO to address situations necessitating expedited governance, set at $30,000 USD.

Expedited pathways

Three distinct expedited governance pathways are being proposed:

I) A 5-day discussion on Discourse, followed by 3 days on Snapshot. An additional 2 days on Discourse will be added if any proposal modifications are made. II) A 24-hour discussion within relevant Discord channels, followed by a 48-hour Snapshot vote. III) Immediate procedures involving immediate execution with no discussion and decision making external to the core and the whitelisted members. This is a last resort measure and will be used sparingly.

Pathway classification

The core team will employ threat/urgency levels in conjunction with the context to determine the appropriate expedited pathway to follow. Below, you'll find examples of fast-track scenarios, categorized by their urgency and threat levels on a scale of 1-5:

• Expedited OTC investment deal

Urgency: 3 Threat: 2 Expedited path: I

• Excluding a wallet from the governance process due to a conflict of interest

Urgency: 3 Threat: 3 Expedited path: II

• Responding to a hack, sybil or an AI attack

Urgency: 5 Threat: 5 Expedited path: III

• Technical error that requires resources for quick correcting or dealing with leaked/stolen IP

Urgency: 4 Threat: 4 Expedited path: III

If these example scenarios were to occur, they might be classified differently depending on the context.