7 months ago we voted in a process for FRAX governance.
Since then a lot has changed and we generally ignore the rules set out in the first version of the governance process and i propose we update them so they fit the current way that FRAX operates.
Here is the new governance process i would like to put forward.
No discussion or vote is needed for :
1, non-controversial parameter adjustments by Frax developers
2, non-controversial usage of voting power in 3rd party protocols by Frax developers
All other proposals must be posted to the governance forum and have a discussion period prior to having a formal vote.
1, 5 day minimum discussion period for all proposals
2, 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.
1, Votes must be open for a minimum of 3 days.
2, Votes for meta-governance or FXS emissions must be open for a minimum of 5 days.
3, A simple majority wins the vote.
4, A link to the discussion thread must be included when posting a vote.
*To be added at a later date if we get spam problem
1000 FXS (or veFXS) is the minimum amount needed to post a vote.
1, A quorum of 1,000,000 votes is required for the result to be valid
2, For meta-governance or FXS emission related votes, a quorum of 2,500,00 votes is required for the result to be valid.