On-Chain Protocol Governance
This form of governance is used to upgrade the smart contracts that govern the ESD token.
In order to ensure the governance process isn't gamed there are a number of required thresholds for a vote to meet before it can be implemented. These are the following parameters when voting on chain:
- Proposal threshold: 0.5% ownership of the DAO
- Vote length: A vote lasts for 9 Epochs
- Minimum Quorum: 20% of the DAO must vote on the proposal
- Locking: If you vote your tokens will be locked for the duration of the vote
- Expiry: Successful votes must be committed within 3 epochs.
Below are the steps most proposal go through to ensure that the community is informed about the changes and will consider the proposal:
- Create a post on the Empty Set Community Forum following the structure of previous
EIPposts on the forum.
- Share the post with the discord and telegram communities
- Implement the changes to the ESD code base and create a pull request. (Make sure to have a few community members review the changes and post on the pull request before submitting)
- If you don't have the skills to do the changes your self, you can create a funding proposal via the treasury t contract developers.
- Flatten the contract code so it can be submitted to Etherscan
- Create the contract on the Ethereum network
- Submit the flattened code to Etherscan to verify the contract.
- Create a Diff Checker link to compare the active contracts and the proposed contracts
- Go to the Governance page on the DAO, enter the contract address and submit.
- Inform the discord & telegram community of the new proposal and the diff checker link.