Frax Governance Process

Governance Proposals
1

Updated 4/20/22

This is the current Frax Governance Process for reference. The governance process was established by a community vote here and revised here. Proposals must meet the community’s requirements to be valid. FXS counted in Snapshot polls include veFXS and boosted FXS in the FXS/FRAX Uniswap pool.

This post will be continuously updated with any changes to the governance process that are approved by the community.

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.

  • 3 day minimum discussion period for all proposals except meta-governance or FXS emission related proposals.

  • 8 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 the 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.

  • Per FIP 47, Snapshot proposals can only be submitted by a designated address to ensure proposal validity.

  • Votes must be for a minimum of 5 days.

  • A simple majority (50% + 1) wins the vote.

  • Votes must be “Weighted Voting”.

Use a signaling vote on the forum to measure more than two options.

Quorum

  • 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.

  • 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.

  • The circulating supply calculation is based on the block of the Snapshot vote.

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