Updated based on feedback to lower the discussion period to 5 and 10 days resepectively
This proposal establishes the following governance process for Frax:
Frax Governance Process
Proposal Development and Discussion
With the exception of non-controversial parameter adjustments by Frax developers, all proposals must be posted to the governance forum and have a discussion period prior to vote.
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5 day minimum discussion period for all proposals except meta-governance or FXS emission related proposals.
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10 day minimum discussion period for meta-governance or FXS emission related proposals.
Meta-governance proposals are proposals that change the governance process of the Frax protocol or impact how the protocol is governed. Emission related proposals alter FXS emissions. Unless they seek to establish recurring FXS incentives, proposals for the DAO to spend FXS from the treasury are not emission related.
Forum posts of proposals should include a forum vote for feedback and signaling. Final proposals must be posted on this forum under the FIP category. Links to the Snapshot vote need to be included on the same thread.
Voting Process
Voting currently take place on Frax’s Snapshot.
- 5000 FXS is the minimum amount of FXS to start a valid Snapshot vote.
- Votes must be for a minimum of 3 days.
- A simple majority (50% + 1) wins the vote.
- Votes may only be binary options (for or against).
Use a signaling vote on the forum to measure more than two options.
Quorum
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A quorum of 5% of the circulating supply of FXS is required for the result to be valid, unless the proposal alters meta-governance or FXS emissions.
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For meta-governance or FXS emission related votes, a quorum of 10% of the circulating supply of FXS is required for the result to be valid.
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The circulating supply calculation is based on the block of the Snapshot vote.
To pass, this proposal requires a simple majority.