The StakeWise DAO is an ever-evolving entity governed by its community members.
Governance of the protocol is done through 1) the submission of SWIPs to modify the protocol’s parameters and propose new features, and 2) voting on SWIPs through the Snapshot instance.
Below we explore the process of developing your ideas into governance votes.
Governance Process
| Phase | Content | Duration | Passing requirements |
|---|---|---|---|
| Phase 1 Ideation | Post created in the Ideas category | Open-ended | There is no formal requirement for the idea to pass to Phase 2 (become a proposal), but the motion must garner notable community support. |
| Phase 2 Specification | StakeWise Improvement Proposal (SWIP) created | 5 days | To move to Phase 3, the proposal must garner a relative majority of votes in the forum poll. If the relative majority of votes is in favour of No change, the proposal will not pass to Phase 3. |
| Phase 3 Snapshot | StakeWise Improvement Proposal (SWIP) refined * StakeWise DAO Snapshot vote | 7 days | The proposal vote must obtain a relative majority of the Snapshot vote in order to be implemented. Proposals that fail to meet these criteria will be dismissed and closed. |
Phase 1: Ideation
This phase is necessary for the discussion of ideas that can turn into protocol improvement proposals. You can initiate a proposal in Phase 1 by posting your idea in the Ideas category with the phase-1 tag. This will allow you to refine the idea using input from other community members, stakeholder feedback, new information etc.
Phase 2: Specification
This phase requires creation of the formal StakeWise Improvement Proposal (SWIP) using the SWIP template. Your SWIP will then be posted in the Proposals category with the phase-2 tag by one of the moderation team members. At this stage an informal vote will happen on the proposal, allowing the DAO members to express their opinion on the matter through a poll. A clear majority of votes in favour will be required for the proposal to pass onto Phase 3.
Phase 3: Snapshot
In this phase, a Snapshot Vote is created to source the SWISE holders’ votes on the proposal. The SWIP is updated to include a link to the vote and the tag phase-3 to signal that an action from DAO members is required. This serves to refine the proposal for the final phase.
Final Remarks
If you have any questions regarding the process then please ask them below. If you would like to suggest an improvement then it is best to create a post in the relevant category.
*30 April 2021 Update:
- changed Phase 2 duration to 5 days and Phase 3 duration to 7 days to shorten the total period of time until execution and give more time for the official vote
- removed the quorum requirement until more $SWISE gets into circulation