Governance Mechanism
Anyone can participate in Discord #idea channel, and vote on improvements.
Key points
- Mainly for comments collection and feasibility discussion;
- No requirement for the identification of specific adjustment parameters.
Discussion period: 3 - 7 days
Min. number of supports: 10
Active: It is under discussion
Completed: It is moved to the next phase.
Not Pass: It is closed because of insufficient community support.
The BendDAO Improvement Proposal (BIP) is the second step in the BendDAO governance process where a BIP can be created after the BRC has passed in the forum.
BIP Key points
- The BIP needs to identify specific implementation parameters or options
When submitting a BIP in the Governance Forum, please refer to the template.
During the BIP discussion period, the creator needs to
- Collect different parameters or scenarios and update them in the BIP
- Create polling options for different parameters or scenarios
Duration: 3 - 7 days
Min. number of voters: 10
Active: The BIP is under discussion
Implemented: The BIP is implemented.
Not Pass: The BIP is closed because of insufficient community support.
The parameters or solutions defined in the BIP will be finally decided by Snapshot voting.
Category | NFT Collateral | Protocol Parameter | Protocol Core Code Change | DAO Treasury (Details) |
|---|---|---|---|---|
Voting Duration | 3 days | 3 days | 7 days | 7 days |
Vote Quorum | 20% of veBEND total supply | 10% of veBEND total supply | 20% of veBEND total supply | 10% or 20% of veBEND total supply |
Pass Rate | 80% | 80% | 80% | From 80% |
For Accepted BIPs, implementation will begin based on the steps outlined in the proposal.
For emergencies, the BendDAO dev team has the right to go through Phase 2 directly.
BendDAO governance keeps moving forward to decentralization. Now community members can not only create BRCs and BIPs but also on-chain voting. BendDAO is in the hands of the community and veBEND holders' votes decide the future development of BendDAO.