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 code. 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:
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 leverage the Formal Proposals category.
DAO contributors can use the templates available in the Governance Forum.
Timeline: 2+ days of discussion
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 2 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
- 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 stakes/tot. stkIDLE minted)*tot. stkIDLE voting in the pool*% of 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).
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.
Timeline: 2+ days of discussion
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.
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
Last modified 12d ago