Key words:
Governance structure, Proposal types
Summary:
I propose to create a governance framework for the Mimo governance, inspired by several other protocols, in order to have qualitative discussions on the governance forum.
Proposal rationale:
This post aims to define a framework for the Mimo governance, by defining several types of proposals depending on the subject discussed, voting on DAO rules, and creating templates that should be helpful for everyone trying to participate.
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.
I) Required informations for any proposal:
Governance forum post:
Each proposal should be posted on the governance forum for at least 48 hours before posting the snapshot, which allows the community to give some feedback, propose changes, and vote on a community sentiment poll.
Proposal type, number and name:
Each proposal must be easily identifiable and correctly classified.
- Type: MIR - MGP - MIP. This will be detailed in the second part of the proposal
- Name: The name must be the same on the forum post and snapshot (Max 10 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.
II) Proposals types and formats:
Inspired by the APWine framework with different sections, we could define different types of proposals, depending on the subject discussed and the importance for the protocol.
Mimo Integration Request (MIR):
Proposal to add a token to Mimo, decide on the minimal collateral ratio, short term partnerships, collateral gauges, liquidity gauges.
Project Presentation: (After summary)
- Protocol name
- Token requested
- Token contract address
- Audit(s) links
- Chain requested: Ethereum/Polygon/Fantom
- Relation with the project
- Twitter/Discord/Telegram links
Token metrics: (After project presentation)
Risk assessment:
-
Smart Contract risk: maturity, transactions
-
Counterparty risk: holders, permission
-
Market Risk: market cap, average volume, normalized volatility
-
Use the Aave methodology: Introduction - Risk
-
Community size on Twitter/Discord/Telegram
Community sentiment poll: (After voting options)
- A poll on the governance forum post to get a first sentiment at least 48hours before submitting a snapshot proposal
Considering that the integrations proposals can happen quite often, and that the risk for the protocol is lower than other proposal types, we could consider the following parameters:
- Admin: Team multisig
- Quorum: 0.5% of the total supply (5M MIMO)
- Voting duration: 3 days
Mimo Governance Proposal (MGP):
MGPs are about common governance proposals, especially the ones related to the treasury of the protocol and the DAO organization. I’ll publish a template on the forum in the coming days.
This type of proposal should include, in addition to all the points mentioned in the first part:
Context: (After summary)
Comprehensive overview of the proposal, treasury breakdown if needed.
The MGPs would concern but wouldn’t be limited to:
- Treasury allocation strategy & budgets
- Liquidity mining votes
- Grant program if any
- Contributors/Dao committees rewards
- Long term partnerships (i.e Dao Swaps)
MGPs concern the protocol treasury directly, which is why it might be best to define more conservative parameters than MIR ones:
- Admin: Team multisig
- Quorum: 1% of the total supply (10M MIMO)
- Voting duration: 5 days
Mimo Improvement Protocol (MIP):
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: 2.5% of the total supply (25M MIMO)
- Voting duration: 7 days
Voting Options:
- Accept the governance framework
- Rework the proposal
- Abstain
- Accept the governance framework
- Rework the proposal
- Abstain
0 voters
