Mimo Improvement Protocol (MIP)
MIPs are about the most important modifications either to the governance framework, or to the protocol directly.
The MIP should include all the relevant information as well as links to the forum discussion and snapshot vote.
This type of proposal should include, in addition to all the points mentioned in the first part:
Context: What’s the modification and why it’s needed.
MIPs would concern but wouldn’t be limited to:
- New versions of the protocol
- Modification of a smart contract
- Updates on the initial parameters
- Modification of the governance framework
- Add/Remove a signer on the treasury multisig
MIPs are the most critical and important types of proposals, as it’s directly about the core product of Parallel or a major change in the functioning of governance.
It’s very important to get as many community members aware of this kind of proposal for them to vote accordingly, which is why we should consider more conservative parameters, and a longer voting period:
- Admin: DAO multisig
- Quorum: 0.5% of the total supply (5M vMIMO)
- Voting Duration: 7 days