We are really excited that you are starting to use the governance tools at hand, but we want to ensure that the proposals put forward by the community are of high quality and have been properly digested, with community members given the opportunity to add to and debate any changes before they are voted in.
In line with the above, this proposal intends to establish a Quorum for proposals so that any changes represent the interests of the majority of the Herd. The suggested Quorum is 3% of the circulating supply at the time of snapshot for a given proposal.
We strongly encourage you to discuss ideas in the various channels provided (Telegram/Discord) for informal discussions that can then be taken to the Forum once they have been discussed and edited appropriately. Discussions can, of course, start from the Forum as well.
If this suggested Quorum is accepted the criteria for proposals to be considered valid will be as follows:
- Proposals must have a corresponding forum post prior to any proposal being made on signal, with a reasonable amount of time given for the community to contribute to the idea(s) put forward.
- Proposals must be made in the format outlined here in order for them to be valid.
- Quorum must be reached with at least 3% of the circulating supply used for voting. Proposals that do not meet quorum cannot be considered valid.
We will build a tool so that the Herd is able to see the amount of SDT required to reach a quorum. We are also working on a way to allow voting with staked SDT.
We need to consider that a quorum must be reached for future proposals to be considered valid. Proposals that do not meet quorum cannot be considered valid.
To ensure fair community participation for any suggested changes to the protocol
Community participation in the governance of the protocol.
Timelines for proposals may be slightly extended.