The process for submitting, discussing, voting on, and executing proposals within the Symmio DAO will follow a clear lifecycle to ensure community participation and transparent decision-making. The stages of this lifecycle are outlined as follows:
Forum Discussion
A Symmio community member may post a potential proposal in the Symmio DAO governance forums. This phase encourages open dialogue and feedback from other community members. Active engagement in meta-governance discussions via forums and Discord is recommended to gain support and improve the proposal.
- Moderation: No minimum token threshold is required to initiate a discussion. However, community moderators reserve the right to moderate and remove spam proposals during this stage.
Temperature Check
Once a proposal garners sufficient community discussion and support, it may move to an off-chain Temperature Check via a snapshot vote. The purpose of this phase is to gauge whether the proposal has enough backing to proceed. Proposals that pass the Temperature Check with majority support can advance to the next stage.
Proposal Creation
A community member with sufficient voting weight (holding at least 1,000,000 SYMM) submits the proposal on-chain. This triggers a 2-day delay period before voting officially begins, allowing the community to prepare for the vote.
Vote Period
The voting period lasts for 10 days. During this time, SYMM token holders may vote for or against the proposal. For a proposal to pass:
- It must meet the required quorum, which is defined as at least 33% of the current circulating SYMM token supply.
- If the proposal fails to meet quorum or receives majority opposition, it will be canceled. Proposers and supporters may revise and resubmit a sufficiently modified proposal in accordance with the guidelines from previous stages.
Timelock Period
Once a proposal is approved, it will enter a Timelock Period of 2 days. During this time, the proposal is queued for execution, providing a final delay to ensure the community has an opportunity to raise any concerns.
Execution
After the timelock delay has passed, the approved proposal can be executed. Any community member can interact with the governance contracts to execute the proposal on-chain.
Deviations in the Proposal Lifecycle
Council Vetos
During the on-chain voting phase, the Security Council has the authority to veto any proposal if it is deemed harmful or dangerous. This measure provides an additional layer of protection against malicious proposals.
Late Quorum Prevention
The voting period may be extended if quorum is reached late. If a proposal achieves quorum less than 2 days before the deadline, the voting period will be automatically extended by an additional 2 days to prevent governance attacks that attempt to meet quorum at the last minute.
Off-chain Proposals
Certain proposals, such as elections or other administrative matters, may not involve any on-chain actions. These proposals will be voted on off-chain via a Snapshot vote. Regular off-chain proposals will have a 5-day voting period, while elections will have a 7-day voting period.
Link to Snapshot: https://snapshot.org/#/symmio.eth