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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.
- 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
- Threshold to make the poll valid: 30% of circulating stkIDLE voting the poll + at least 70% on the same optionIf 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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