Governance Process 🌊🏆
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PoolTogether Governance
Governance 101
Control of the PoolTogether Protocol rests solely in the hands of the community holding the POOL tokens. This is a revolutionary new way of organizing and it takes some education. This page explains the governance process at PoolTogether. To learn more about governance delegates & voting on PoolTogether governance, please see here.
Governance Process
The process for making change follows: 1. Forum Post 2. PoolTogether Snapshot 3. On-chain Proposal
1. Forum post
All major discussions must start on the governance forum in the form of a PTIP:
- The topic must follow the name “PTIP-X” where X is the next largest PTIP ID
- When you create a new topic it will be populated with the PTIP template
- You must include a poll to approve or reject
Once submitted, the PTIP should be open for discussion for at least 5 days (assuming it is well-formed). The PTIP can be left open for longer if the content is highly contested or no consensus for path forward is reached. During the early stages of expansion, we may move with greater agility.
After one week, a governance delegate will determine if consensus has been reached for the content of the PTIP. The forum poll must have reached a positive quorum of 20 votes.
If changes are necessary, they will comment with the full amended proposal and create a corresponding PoolTogether Snapshot vote.
2. PoolTogether Snapshot
Snapshot is a voting system that allows token holders to vote gaslessly. It is used for signaling; Snapshot votes do not change the protocol.
The PoolTogether Snapshot allows all $POOL and $pPOOL ($POOL Prize Pool) token holders to vote gaslessly.
If the Snapshot vote passes with at least 100k votes, then it’s a strong signal that an on-chain proposal would pass. At this point the proposer can make an on-chain proposal as it’s clear the proposal would pass.
3. On-chain Proposal
When it comes time to create an on-chain proposal, the proposer must:
- Create a new PoolTogether Governance proposal that matches the specification outlined in the PTIP
- Create a corresponding POOL Pool Snapshot vote for the proposal.
The details of the PoolTogether Governance system are described here.
The POOL Pool Snapshot allows POOL pool ticket holders to participate in proposal voting. This pool’s voting power has been delegated to a Gnosis Safe multisig whose owners are community members. When there is an on-chain proposal there must be a corresponding vote in the POOL Pool Snapshot. The multisig must vote according to the result of the POOL Pool Snapshot.
Acknowledgements The PTIP process is a modified version of Badger Improvement Proposals and Yearn Improvement Proposals.
