Proposal Framework
Last updated
Last updated
With the recent Parallel Governance Framework Proposal update, the Parallel protocol and its governance are officially laid out, voted on, and put into action.
While Parallel, since its inception, has operated by holding decisions to a vote, the updated framework brings a much clearer picture of how governance will take place and what this means for the protocol moving forward.
The main components of this initial proposal are simply outlining how decisions are going to be proposed and executed. These are broken down into three categories: PIR, PGP, and PIP.
Posting a proposal on the governance forum and discussing it there and on discord first allow to get a sentiment check and some valuable feedback about the community ideas and upcoming snapshot votes. We could open a channel for each proposal on discord and archive it once voted.
Governance forum post: Each proposal should be posted on the governance forum for at least 48 hours before posting the snapshot, which allows the dao members to give feedbacks, propose changes, and vote on a sentiment poll.
Proposal type, number and name: Each proposal must be easily identifiable and correctly classified.
Name: The name must be the same on the forum post and snapshot (Around 15 words)
Number: Each proposal must have a number that represents the post order on the forum and on snapshot
Summary: Short description of the proposal (1-2 sentences max)
Rationale: Detailed explanation of the proposal and milestones for its execution.
Means: Resources needed for this proposal
Human resources: Special skills required (dev or others)
Treasury ressources: Proposal cost (in MIMO and in $), % of the treasury required
Technical implementation: Highlight the technical implementations of this proposal if any
Voting options: Mention the options that will be included on the snapshot vote, including an “Abstain” one.
PIT are proposals to add a token as a collateral. The surrounding decisions to be worked through include minimum collateral ratio, and any short term partnerships.
Each request will require some information and details about the integration like the name of the token, audits, chain(s) requested, and any appropriate links.
All integration requests go through a risk assessment process where we consider things like counterparty risk, smart contract risk, and community size.
PGP are about common governance. These are topics related to the treasury of the protocol and the DAO organization. PGP may include things like liquidity mining votes, long term partnerships (i.e. DAO swaps), treasury allocation and budgets.
The proposal also outlines how more conservative parameters are best for PGP since they relate to the treasury.
PIP are the most important modifications regarding both governance and the protocol directly.
These proposals are going to provide context and explain in detail what this means for Parallel as a whole. Examples of PIP could be new version, smart contract modifications, governance framework updates, or updating signers on the treasury multisig.
Since these are more critical to the protocol, it’s also important to include as much as the community as possible and increase the quorum so it’s a full and fair vote.
