Governance Process
Below is a proposal of the governance process for the Raft protocol. This proposal will be ratified by the DAO using the same governance process outlined below.
This page outlines the process for proposing and implementing changes within the Raft DAO. It is a living document that the Raft community can modify and enforce collectively.
Governance Venues:
There are three platforms for Raft governance depending on the stage of the proposal:
Discussion on Discord:
Before submitting a proposal on the forum, discuss it on the Raft Discord in the #governance channel.
Proposal on the Raft Community Forum:
The Raft Community Forum is a place for discussions related to Raft governance. Register an account or use GitHub, Twitter, or Discord login to participate.
Snapshot Voting:
Snapshot is a voting tool for off-chain sentiment signaling. Votes are weighted by the amount of veRAFT tokens delegated to the voter's address.
Governance Phases:
Phase 1: Temperature Check (Raft Community Forum):
The purpose is to gauge support for a proposed change.
To create a Temperature Check:
Create a proposal in the Proposals category with a clear title (e.g., "[IDEA] Should we deposit X RAFT into Y?").
Provide details about the proposed change in the body.
Use the cog icon to create a poll (Multiple Choice) with options like 'Yes' and 'No.'
After a minimum 5-day voting period, if there's support, proceed to Phase 2.
Phase 2: Voting (Snapshot):
This formal vote involves veRAFT holders.
To create a Vote:
Use feedback from the Temperature Check to create a Snapshot poll with the same title.
Link to your Temperature Check thread.
Select 'Single Choice Voting' in the Actions menu and set start and end dates (3 to 5 days).
Engage with the community to gain support.
Outcome:
The option with the majority of votes wins. The proposer or Tempus Labs will begin implementing accepted proposals, ensuring code changes are audited if necessary.
Phase 3: Implementation
In the Raft governance process, it will not be implemented if a vote fails in an approve/reject vote. We encourage proposers to wait at least 30 days or until a significant change occurs before submitting another vote.
When a vote succeeds, or a decision is reached, it's crucial to ensure proper execution. Depending on the nature of the vote, it may necessitate action by the multisig. The Raft Governance Team is responsible for orchestrating the on-chain execution of governance decisions, and they are actively working to enhance transparency.
Assuming all reviews are completed, and dependencies are satisfied, the Raft Governance Team will make every effort to implement the decision in the same week that governance concludes. However, it's worth noting that complex proposals may require additional time for the final multi-signer to review.
The Raft Governance Team will strive to comment on the forum post with a link to the execution transaction upon completion.
Decentralization Objective:
Raft aims to become a fully decentralized protocol in the future, and this soft governance approach is a critical step toward that goal.
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