Governance Instructions and Templates

Governance General
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Below is a template for structuring SaucerSwap proposals to facilitate comprehensive and efficient deliberation:

  • Title: [Proposal title]*
  • Author(s): [Names of associated authors]
  • SaucerSwap Voting Interface: [Link specific to the proposal]
  • Related Discussions: [Link to related discussions]
  • Submission Date: [Date]

*Specify whether it is an RFC, Proposal, or Election. Update Proposal posts to include mention of Election once passed.

Body Paragraphs:

  • Summary: A brief overview of the proposal (3-4 sentences).
  • Abstract: Introduce and expand on the proposal, highlighting key points and potential improvements.
  • Motivation: Identify the problems addressed and the value added by the proposal.
  • Specification & Rationale: Detailed explanation of the rationale and vision, including technical, social, financial, and governance impacts.
  • Benefits (Pros): Advantages of implementing the proposal.
  • Downside (Cons): Potential disadvantages.
  • Voting: Define the voting options and what they entail.

Governance Process

The governance process consists of three phases: Request for Comment (RFC), Proposal, and Election.

Phase 1: Request for Comment (RFC)

  • Purpose: Gather initial feedback and refine proposals.
  • Duration: Minimum of 3 days.
  • Requirements: No minimum voting power required.
  • Platform: Discussions occur on the SaucerSwap Governance Forum at gov.saucerswap.finance.
  • Modifications: Proposals can be freely modified by the proposer during this phase.

To post an RFC:

  1. Label your post “RFC - [Your Title Here].” Allow at least 3 days for community feedback before moving to Phase 2.

Phase 2: Proposal

  • Purpose: Formalize and submit proposals for voting.
  • Duration: 2 days.
  • Requirements:
    • Creation: Minimum of 100k units of voting power, determined by SAUCE and xSAUCE holdings.
    • Quorum: 5M SAUCE.
    • Majority Vote: Required to pass.
  • Platform: Voting conducted via HCS.
  • Voting Options: Multiple choice, including a “No change” option.
  • Voting Mechanism: Single-choice voting with snapshots of account balances taken every five minutes.

To create a Proposal:

  1. Incorporate community feedback from the RFC phase.
  2. Post the proposal in the SaucerSwap Governance Forum under “Proposal” with the title “Proposal — [Your Title Here]” and link to the RFC post.
  3. Create a Proposal on the SaucerSwap Voting Interface, with voting options supported in the RFC phase. Include a link to the Forum post and a TL;DR summary.
  4. Update the Forum post with a link to the Voting Interface.

At the end of 2 days, the option with the majority of votes wins. If the “No change” option wins, the proposal will not move to Phase 3.

Phase 3: Election

  • Purpose: Final community vote on proposals.
  • Duration: 2 days.
  • Requirements:
    • Quorum: 15M SAUCE.
    • Majority Vote: Required for enactment.
  • Platform: Voting conducted via the Hedera Consensus Service (HCS).
  • Voting Options: Typically includes the proposal that met quorum and majority, alongside a “No change” option.
  • Voting Mechanism: Single-choice voting with snapshots of account balances taken every five minutes.

To create an Election:

  1. The Election will be automatically generated when the Proposal voting period ends, provided the Proposal criteria were met.
  2. Update the Proposal title to “Election — [Your Title Here]” and provide a brief summary of Proposal voting results.
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