Sperax Improvement Proposals (Active Discussion) Subcategory Info

This category is used to post and discuss potential governance proposals.

All posts in this subcategory serve as collaborative, submissions that can transition to a formal governance proposal & vote on Snapshot.

About the Sperax Governance Process:

The Sperax DAO governance process primarily utilizes the designated Governance category on the Sperax DAO Governance Forum.

In order for a proposal to be accepted, it must go through the following phases:

Phase 0: Casual Ideation (Discord):

If you have an idea you’d like to share, please feel free to post it in #DAO-discussion channel on our Discord. This casual ideation can serve to drive the thought process behind building an official proposal, but is an optional step in the DAO process.

Ideation Flow:

  1. Start a conversation in the official governance channel in Discord.
  2. Gather feedback from the community.
  3. (Optional) Create a poll on discord to gauge community sentiment.
  4. (Optional) If you’d like to talk about your idea on a Sperax Community Call, feel free to contact a team member via Discord to coordinate.

Phase 1: Improvement/Governance Proposal (On Forum):

If you are ready to submit a formal proposal, you may do so on the Sperax Improvement Proposal channel using the SIP Template.

Here you’ll begin to receive constructive feedback from the community as well as the Sperax team. Discussion will commence for a minimum of 48 hours.

Sperax Improvement Proposal flow:

  1. If you haven’t done so already, follow the SIP Template and submit the formalized proposal in #governance.
  2. Make sure to add the correct tag (see below for definitions):
  • USDs parameter: Proposals related to adjusting/modifying USDs components.
  • New Assets and Yield Strategies: Proposals related to adding new forms of collateral and yield strategy schemes/methodologies.
  • Liquidity Mining: Proposals related to the improvement of Sperax farming & liquidity mining mechanisms.
  • Product Feature: Proposals related to the improvement, addition, or modification of new & existing Sperax products.
  • Partnership(s): Proposals related to inquiring & establishing potential partnerships with the Sperax Protocol.
  • Other: Miscellaneous proposals that have yet to be assigned a defined tag/category.

Phase 2: Snapshot vote:

Once a proposal has gained traction, a snapshot poll will be created for voting. A Moderator will proceed to create the snapshot poll, link it to the corresponding forum post, and submit it on the Snapshot Voting channel

All snapshot polls will last 3 days upon initiation . Votes will be weighed by the voters’ veSPA balance. A snapshot poll will include 2 vote options (Yes/ No) by default. If proposal creator wants 3 vote options (Yes/ No/ Yes with modification) then they can inform that to the moderators while snapshot poll is created. If ‘Yes with modification’ option gets max votes, then the proposal is not subject to cooldown period.

Proposal Passing Criteria:

  • Acceptance Threshold: More than 50% of the votes must be in favor of For or Against to Pass or Fail.
  • Minimum Quorum: 20 Million veSPA

Possible outcomes at this stage:

  1. Both the proposal passing criteria are met : the proposal passes and escalates to a Sperax Improvement Plan (SIP).

  2. Quorum is not met : The proposal does not meet minimum quorum and is marked “Defeated” by the moderators. The proposal undergoes a 7-day cooldown period. At the conclusion of this period, the proposer can resubmit the proposal and proceed with the governance process.

  3. Quorum is met but does not receive more than 50% in ‘Yes’ votes : The post is marked as ‘Defeated’ by the moderators.

  • If “No” votes > “Yes with modification” votes - The proposal must then undergo a 7-day cooldown period. Afterward, the proposer must then resubmit the proposal, along with any necessary modifications, and proceed with the governance process.
  • If “Yes with modification” votes >= “No” votes - The proposal can be returned to the deliberation phase for modifications and is not subject to the 7-day cooldown period. Once modifications are made to the proposal it can be elevated to a Snapshot vote once again.

Phase 3: Sperax Improvement Plan (SIP):

When a governance proposal passes the snapshot vote in the previous stage, the proposal moves to Sperax Improvement Plan. This category will have the list of all accepted proposals. You can also track the progress of SIP’s in the pipeline on the public board. The Sperax engineering team will pick up proposals from SIP for implementation based on their priorities and bandwidth. Community can also help write the code for implementing proposals from SIP. All codes will have to be audited before implementation. Sperax Foundation will help in facilitating the audits.