MIPs are about the most important modifications either on the governance framework, or on the protocol directly.
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 version 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 Mimo or a major change in the functioning of governance.
It’s very important to get as much 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: Team multisig
- Quorum: 0.5% of the total supply (5M MIMO)
- Voting duration: 7 days