Qi Dao | Mai.Finance

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network: Ethereum author: Benjamin.lens implementor: Snapshot Members implementation-date: Immediately after approval created: 2024-04-19

Summary

This proposal aims to implement the next stage of QiDao governance, by opening the proposal posting procedure to aveQI lockers that meet a minimum threshold.

Historically, proposal drafts were first discussed on the Discord forum, where active community members would provide feedback and approve which proposals were voted on. This step was crucial in allowing community members without a significant amount of voting power the ability to have a say in proposals. It also helped established the culture of the community and its values. However, the final say has always been had by QI holders.

As QiDao has established its culture and processes over the years, it is time for the next step: opening the snapshot page for direct proposal posting. This evolution will allow any aveQI holder with enough voting power to post proposals.

A full description of the governance vision for QiDao can be read here: https://mirror.xyz/qidaoprotocol.eth/o3CEXcXBshGltLSVMzGRq1itdR_hjN5lpyLWzaYbdG0

Abstract

The changes proposed are to set quorum, voting period, voting delay, and voting power thresholds for posting proposals.

The threshold to post proposals will be 150,000 aveQI, roughly 2.5% of the total vote. This limit protects the DAO page from spam proposals and ensures the alignment of proposers to the DAO.

There is a voting delay of 24 hours for proposals to be assessed by voters, and a set period of 72 hours for voting. Quorum for proposals is 600,000 aveQI, approximately 10% of the total voting power.

Motivation

The goal of this proposal is to continually and responsively decentralize QiDao’s governance process.

Specification

Rationale

This change decentralizes yet another step in QiDao’s governance process.

1. Posting drafts - decentralized by Governance Page
2. Posting proposals - decentralized by this proposal
3. Voting on proposals - decentralized by original governance powers delegation to QI lockers
4. Executing proposals - partly decentralized by QiDao Guardians

Technical Specification

See configurable values changed below.

Configurable Values

• Voting delay: 1 day
• Voting period: 3 days
• Minimum threshold for posting proposals: 150,000 aveQI
• Minimum quorum for proposals: 600,000 aveQI