Creating A Proposal
Anyone who has 1900 votes delegated or who is a whitelisted DAO member can submit a proposal on-chain. Voting stays open for ca 60 hours after which a 40 hour holding period is imposed before execution.
How To Post A Proposal
What is required?
First socialize the idea with other community members in Discord in the Governance-General channel. When you have taken initial feedback three things are to happen.
- Contact the Community Working Group to set up a community call discussing the subject.
- Create a forum post with the proposal in its entirety but without the actual code for the on-chain actions, just describe them.
The community has a social agreement to post all proposals on the forum and as a draft in GovMills at least 24 hours before the proposal is put up for an on-chain vote, and also to host a community call for feedback on the proposal before the voting period begins.
Feel free to expand deeper into the motivation and surrounding circumstances and narratives that motivate the proposal on the forum but keep it simple and to the point in the on-chain proposal.
Include a link to the proposal's forum post in the on-chain proposal.
Clarity: Proposals should be written in easy to understand language. Proposals should clearly define and address a specific set of on-chain actions along with any responsibilities carried by DAO members or 3rd parties.
Completeness: All referenced and public information must be made accessible through the proposal. A proposal must not be dependent on future circumstances. Authors should disclose any and all conflicts of interest for all parties. Review active proposals to avoid overlap.
Accountability: Make sure that the execution of human responsibilities are worded in a way that makes defining success or failure easy to define.
Time: Include moderate time limits for experimental additions such as new WG's and extend them along with any budget in subsequent proposals.
Reporting: Include reporting requirements and make sure that the reports have a willing owner.
Budgeting: Long term contributors with a reliable workload are paid in DOLA through our Payroll contract. All expenses required to execute the entirety of the proposal must be accounted for in the proposal. If the proposal passes, a spending allowance will be created for the appropriate wallet for up to that amount from the Treasury.
Agency: Any required multi-signature wallets or other technical prerequisites must be created and willing key holders must be assigned before the execution of the proposal. Gas fees will be reimbursed by TWG if the proposal is passed.
Although everything available is on-chain, Inverse Finance has taken steps to make creating proposals accessible for anyone and the most common on-chain actions have templates. Read more in this blog article.
The proposal requires a minimum of 9500 FOR votes to pass quorum and it needs to have more FOR votes than AGAINST votes.
Once a proposal has passed, it must be queued on-chain. This action can be triggered by anyone who is willing to pay the gas fee (usually done by a DAO member). The proposal then enters a holding period of 40 hours to allow users time to prepare for the consequences of the execution of the proposal.
After the holding period, the proposal's execution can be triggered by anyone within 14 days. If the proposal is not executed within 14 days, it will expire and is no longer actionable.