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Governance process

Governance > Idle DAO > Governance process

Any address with at least 130,000 IDLE (1% of the total supply) delegated to is able to propose IIPs (on-chain proposals), which are executable codes. The Timelock contract would then modify system parameters, logic, and contracts in a "time-delayed", "opt-out" upgrade pattern (as described in the On-Chain Proposal section).

Any proposal, idea, or initiative for the Idle protocol coming from a community member or Leagues' contributor follows a governance process composed of several steps:

Users can visit this Syncvote page to get an overview of the governance process

Syncvote's preview of Idle DAO governance process

1. Idea Discussion

Community members can propose early-stage ideas in the Ideas and Improvements category to receive initial feedback. If community members have an already structured proposal, they can use the Formal Proposals category.

DAO contributors can use the templates available in the Governance Forum. Some categories provide a suggested template that can be found by clicking the "New Topic" button.

Timeline: 2+ days of discussion

Website: Idle Governance Forum

2. Temperature Check

After a successful idea discussion, community members can create the associated Snapshot poll (off-chain action) to measure the sentiment of the community about the potential change.

For the time being, contributors need to open two polls: one for IDLE votes and one for stkIDLE ones.

Users need to hold at least 100 IDLE to open a Snapshot poll.

Timeline: 3+ days of voting

Website: Snapshot page for IDLE holders and Snapshot page for stkIDLE holders

In 2021, Idle DAO approved a voting process update affecting stkIDLE holders only:

  • A new stkIDLE holders voting space has been created on Snapshot.

  • No quorum is required to validate the vote off-chain

  • The voting weight of stkIDLE is calculated in the form of weighted IDLE tokens as tot. IDLE stakedtot. stkIDLE minted×tot. stkIDLE voting×% on each option\large{\frac{\text{tot. IDLE staked}}{\text{tot. stkIDLE minted}}}\times \text{tot. stkIDLE voting} \times \text{\% on each option}

The sum of the voting weights cast by IDLE and stkIDLE holders represents the final snapshot results (votes results are reported in the official calculator).

3. Proposal Formalization

After having reached a consensus in the Temperature Check, the initial proposer or another community member can submit the idea as an IIP in the Proposals category in the Governance forum.

DAO contributors can use the templates available in the Governance Forum. Some categories provide a suggested template that can be found by clicking the "New Topic" button.

Timeline: 2+ days of discussion

Website: Idle DAO Governance

4. On-chain Proposal

The proposer or other DAO members can deploy on-chain the official proposal, which is broadcasted as executable code. It starts its journey in a pending state. Once the on-chain proposal is active, IDLE token holders cast their votes.

DAO contributors can follow these guides to create a formal IIP.

In case of an on-chain poll, stkIDLE votes should meet two minimum thresholds to make the poll valid to be cast on-chain:

  1. 20% of circulating stkIDLE voting the poll

  2. at least 70% on the same option

If the poll quorum is reached, the Treasury multisign, which holds delegated votes, will broadcast the result on-chain with the entire voting balance.

Quorum: 4% of the total IDLE supply (~520,000 IDLE) voting the pool

Timeline: 3 days of voting

Website: Idle DAO Governance voting page on Tally

If a proposal is successful, it can be queued for execution and, after 2 days, can be executed on-chain.

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