Governance Proposal Process

Context

Polywrap governance proposals that steer the direction of the Polywrap DAO operation decisions, strategy, development and more. This document provides a streamlined approach to contributions.

Workflow

1. Create a proposal in the governance forum

The author would create a proposal on the governance forum.

2. Discussion
The author would then notify DAO members to discuss the proposal by messaging the #governance channel in the Polywrap DAO discord server.

3. Snapshot
After the merits of the proposal are discussed, the author can make the changes suggested by the other DAO members before posting on Snapshot for DAO voting.

  • The proposal has a voting period of at least 2 days where token holders may vote FOR or AGAINST.
  • For governance proposal to pass
    • 5% of the circulating WRAP-IOU tokens must participate
    • 50% or more must vote FOR
    • At least 4 tokenholders must vote

4. Post Voting Process
After the snapshot voting period has concluded, the author will tally votes and update the Polywrap Community Documentation record with the related voting data. If a proposal has passed, the governance proposal is moved from proposed to approved. If a proposal is rejected the proposal may be moved to rejected or back to WIP to be revised for future consideration.

5. Implementation
Approved governance proposals will be executed via multisig where necessary. Otherwise, implementation of each governance proposal will vary on a case-by-case basis.

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