1inch Governance Process v0
Authors: @Kene_StableLab & @Bobby_StableLab
The “1inch Governance Flow” is an all-in-one document for contributing to 1inch DAO. This document will continuously be updated by 1inch DAO contributors.
This document aims to provide an overview of the different roles and responsibilities, flows, and pathways for various stakeholders to participate in 1inch DAO.
Contents
- Governance Roles
- Delegates
- Delegators
- Contributors
- Governance Processes
- Proposals
- Types of Proposals
- Proposal Timelines
- Voting
- Proposal Voting
- Quorum
- Working Groups
- Funding
- Changes to Governance
Governance Roles
- Delegates: Delegates are community members who have received voting power from other community members or through self-delegation. Delegates are currently not compensated in the 1INCH DAO.
- Delegators: Delegators are community members who hold or stake 1INCH tokens but have entrusted their voting power to another person. The person they delegated their voting power to is considered a delegate.
- Contributors: Contributors are community members who participate in and dedicate their time to the 1INCH DAO. They participate by joining working groups, fulfilling bounties, and/or building on top of the 1INCH Protocol or for the DAO via grants while working towards completing shared goals.
Governance Processes.
The processes described below are an overview of the official ways to participate in 1INCH DAO in various parts of the lifecycle as a 1inch token holder or contributor.
Discussions
Most governance discussions take place on the official 1 inch Governance Forum and the official 1INCH Discord Governance Channel. It is recommended that all discussions in contemplation of a proposal start on the 1INCH Governance Forum.
Types of Proposals
There are currently no distinctions in the types of proposals in the 1INCH Governance Process, all proposals are 1inch Improvement Proposals (1IPs).
**1inch Improvement Proposal Template (1IP) **
References
This section would contain links to relevant pieces of information, which will help the user understand the concepts referenced in the proposal.
Abstract
This is a comprehensive summary of the entire proposal. This section should not be more than two paragraphs.
Introduction
This section is intended to lay the foundation of the proposal by introducing the idea that the proposal is presenting to the DAO.
Motivation
_This refers to the problem statement of the proposal; why is this an important problem? And why must it be addressed now? _
Specification
This will contain a walkthrough of what this proposal seeks to change and the practical steps the author intends to take to implement this proposal.
Rationale
Communicate the possible outcome if the proposal is passed by describing the value that will be achieved and the reason to enact this change through the proposal.
Considerations
This refers to some of the concerns that might be associated with the proposal or certain aspects of the proposal that should be considered in making a decision.
Next Steps
This outlines the steps toward implementation that the DAO would take if the proposal is approved by governance.
Proposals Timeline
Phase 1 & 2 - This phase involves open-ended discussion on the forum in order to gauge community sentiment and feedback, this feedback will go on to form the foundation of the proposal.
Phase 3 (Temperature Check) - After incorporating feedback from the open-ended discussions from Phase 1 and Phase 2, this stage of the proposal involves running a poll on in the proposal on the 1inch Forum, this poll would last for** three days** and should include the relevant options.
A temperature check does not require a minimum amount of votes or a majority to move to the next phase.
Phase 4 (Snapshot) - A snapshot vote lasts 5 days and requires the proposal author to hold **25K 1INCH voting power **to upload a proposal on the 1INCH SnapShot Space. This is an off-chain vote; therefore, it requires no gas cost to vote.
There is a minimum quorum of 10M 1INCH. If the proposal is successful and requires some form of on-chain execution, it will be executed via SafeSnap.
Voting
Proposal Discussions
Initial proposal ideas should be shared with the community on Discord or the Discourse forum to gather feedback and support.
After support is gained, a formal proposal can be posted on the forum for more visibility and feedback.
A successful proposal is eligible for a reward under the [1IP-16] Community Governance Incentives. However, the following proposals are ineligible for compensation:
- Proposals requesting budgets or grants are excluded.
- Grants are directed to the current 1inch grant program.
- Proposals making minimal amendments to previous proposals (e.g. fixing only typos) are excluded from this program.
- Proposals that have no direct, actionable outcome (e.g. establishing a mission statement) are excluded from this program.
For an author of a successful proposal to collect rewards under this initiative, make sure to reach out to one of the current Community Multi-Sig Signers, at the time of writing this proposal.
Authors of a proposal should communicate with community multi-sig signers to provide the correct wallet information for distribution. Wallet information can be communicated in private, but all transactions are public since they are on the blockchain. Distribution will occur at the beginning of the following month.
Moving to Vote
To create a proposal in the Snapshot Space, the proposal creator must have at least 25K 1INCH. A proposal author can also ask another token holder or delegate who can help put up the proposal on behalf of the author; the author can connect to token holders or delegates through the 1INCH DAO Forum or Discord.
Quorum
In order for a proposal to succeed, the proposal must reach a quorum of 10M 1INCH.
Working Groups.
The 1INCH DAO currently does not have formalized working group framework. However, the DAO currently has Recognized Delegates who contribute to the DAO. Contributors are free to propose a working group proposal or a contributor proposal to the DAO.
Funding
At this time, funding can be accessed through a governance proposal or an application to the 1inch Foundation Grants Committee.
Proposal History
Proposal history can only be found on Snapshot here.
Changes to Governance
Any changes to the Hop DAO Governance Process must be ratified by the community through a 1INCH Improvement Proposal.