Governance Process
Any address with at least 130,000 IDLE (1% of the total supply) delegated to it is able to propose governance actions, which are executable code.
Any proposal, idea, or initiative for the Idle protocol that is proposed by a community member, goes through several steps:
Phase
Description
Timeline
Where
Idea Discussion
Community members can propose early stage ideas in the “Governance-Meta” or “New Features & Improvements” category and receive initial feedback.
2+ days
Temperature check
Create the associated Snapshot poll (off-chain action) of the idea proposed in the previous phase. The aim is to taste the sentiment of the community about a potential change. Users need to hold 100 IDLE as voting power to submit a Snapshot poll.
From August 6th, 2021, the DAO approved an update only for stkIDLE holders:
  • Voting strategy: stkIDLE holders voting space
  • Threshold to make the poll valid: no quorum required.
  • Voting weight: The voting stkIDLE amount is calculated in the form of weighted IDLE tokens using the formula: “total IDLE staked / total stkIDLE minted * total stkIDLE voting the snapshot * % of each option”. The sum of the voting weights cast by $IDLE and stkIDLE holders represents the final snapshot results (calculator). If the poll quorum is reached, the community multisign that holds delegated votes will broadcast the result on-chain with the entire voting balance.
3 days
Proposal Formalization
After getting a consensus in the previous phase, once the idea is more structured and has the form of a proposal, the initial proposer or a community member may decide to submit the idea as an IIP in the “Proposals” category
2+ days
On-chain proposal
The proposer or other people 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 vote “For” or “Against”. Users can follow this guide to learn how to create IIPs
From August 6th, 2021, the DAO approved an update only for stkIDLE holders:
  • Voting strategy: stkIDLE holders voting space
  • Threshold to make the poll valid: 30% of circulating stkIDLE voting the poll + at least 70% on the same option
    If the poll quorum is reached, the community multisign that holds delegated votes will broadcast the result on-chain with the entire voting balance.
3 days
Last modified 28d ago
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