Phase 2: Change Proposal
After a successful signaling proposal, the creator of the proposal takes the most popular feedback from the discussion forum that has community support and incorporates it into the final version of the proposal.
A change proposal is posted for community vote with a [#TAG] of the type of proposal - [#GRANT], [#UX], [#TOKENOMICS]. The categories can change as the community evolves - more categories can be created, and others removed. The proposal should explain the value it will bring, in brief, the technical feasibility, all resources needed for the implementation (e.g. developers, timescale, budget), any potential downsides and risks, and links to the forum discussion and signaling post. Any change proposals, which do not contain all mandatory elements will be flagged by Stewards and removed within 24hrs, if not corrected.
The change proposal needs to pass a quorum requirement of 5% of delegated VP cast in total, so it can be considered valid. A proposal is considered “passed” if it garners the support of 50%+1 of the cast VP for trivial changes and 67% of cast VP for major changes. A major change is any item that critically impacts the protocol’s monetary policy and security measures, e.g. new reward structure for Governance participants, a new utility function of the token, or a major smart contract change.
Voting lasts for 5 days. Proposals that are improperly indicated will be removed by the . If a proposal passes, depending on the change it presents, it will be actioned by an appropriate respective group hired to implement the change, in case of development or other changes which cannot be executed fully by the community.
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