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Process

This document is a living document which represents the current process guidelines for developing and advancing PEAKDEFI Governance Proposals.

Process

  1. 1.
    Write the code for your proposal, which will be voted on through the Governance Dashboard. All proposed code should be audited by a professional auditor. This auditing process may be paid or reimbursed by the community treasury.
  2. 2.
    Ensure that you have at least 2.5 million PEAK delegated to your address in order to submit a proposal, or find someone who has enough PEAK to meet the proposal threshold to propose on your behalf.
  3. 3.
    Create a topic in the Proposal Discussion category on gov.peakdefi.com titled "Governance Proposal — [Your Title Here]" and link to any relevant Snapshot polls/discussion threads as well as the code audit report.
  4. 4.
    Call the propose() function of the Governor Bravo to deploy your proposal.
Once the propose() function has been called, a seven day voting period will start. Ongoing discussion can take place in the gov.uniswap.org forum. If the proposal passes successfully, a two day timelock will follow before the proposed code is executed.

Soft Governance

The process described above lays out a structure for those wishing to host a formal vote around a particular issue.
However, governing this system also requires a degree of "meta governance", discussions that inform the direction of and the implementation processes behind policy but which don't qualify as policy themselves.
The community may discuss new ideas and strategies for governance — including changes to the three-step process outlined above — in the "Governance-Meta" category. On-chain voting is not necessary to make updates to off-chain processes.

Governance Glossary

  • PEAK: An ERC-20 token that designates the weight of a user's voting rights. The more PEAK a user has in their wallet, the more weight their delegation or vote on a proposal holds.
  • Delegation: PEAK holders cannot vote or create proposals until they delegate their voting rights to an address. Delegation can be given to one address at a time, including the holder's own address. Note that delegation does not lock tokens; it simply adds votes to the chosen delegation address.
  • Proposal: A proposal is executable code that modifies the governance contract or treasury and how they work. In order to create a proposal, a user must have at least 0.5% (10M PEAK) of all PEAK delegated to their address. Proposals are stored in the "proposals" mapping of the Governor smart contract. All proposals are subject to a 7-day voting period. If the proposer does not maintain their vote weight balance throughout the voting period, the proposal may be canceled by anyone.
  • Quorum: In order for a vote to pass, it must achieve quorum of 2% of all PEAK (40M) voting in the affirmative. The purpose of the quorum is to ensure that the only measures that pass have adequate voter participation.
  • Voting: Users can vote for or against single proposals once they have voting rights delegated to their address. Votes can be cast while a proposal is in the "Active" state. Votes can be submitted immediately using "castVote" or submitted later with "castVoteBySig" (For more info on castVoteBySig and offline signatures, see EIP-712). If the majority of votes (and a 2% quorum of PEAK) vote for a proposal, the proposal may be queued in the Timelock.
  • Voting Period: Once a proposal has been put forward, PEAKDEFI community members will have a seven day period (the Voting Period) to cast their votes.
  • Timelock: All governance and other administrative actions are required to sit in the Timelock for a minimum of 2 days, after which they can be implemented.