Governance Announcement & Flow

Governance Information
#1

Dear Alkemi Network Community,

Since the inception of the project in 2018, Alkemi Network has been striving for quality and innovation in DeFi and Web3. Our growth has not been without its challenges, however, we’re proud to have reached the point where we can confidently offer professional solutions to institutional and retail users.

As we move towards progressive decentralization our goal becomes clear - to create a distributed system where both core team members and the wider community are treated alike, co-owning multiple processes and working together to collectively meet different needs such as product fixes, improvements and extensions, overcome challenges, and improve the entire protocol for everyone. To that end, we’re taking the next step by introducing a formal governance process and flow for all those involved in our community.

Alkemi Network is one of the first decentralized liquidity protocols to facilitate both permissioned (‘Verified’) and permissionless (‘Open’) pools governed by one utility token. The main idea of the governance process is for it to be as simple as possible this way encouraging more efficient participation and rapid innovation and implementation.

DAO Proposal Process:

The DAO governance proposal process will take a 3-stage approach: [1] DISCOURSE SOFT-VOTE, [2] SNAPSHOT HARD-VOTE, and finally the [3] IMPLEMENTATION STAGE. In other words, firstly, we check the community sentiment, then we move the proposal to Snapshot, and lastly, we execute the proposal.

[1] DISCOURSE SOFT-VOTE

  1. Create a new thread in our Discourse forum ‘#Proposals’ category

  2. Name your proposal ‘AIP #: XXXX’ where ‘#’ is based on the previous proposal’s number +1 and ‘XXXX’ is the name of the proposal (‘AIP’ stands for ‘Alkemi Network Innovation Proposal’) (e.g. “AIP #1: Integrate Polygon L2 for the ‘Open Pool’”)

  3. Write your proposal by using the template below:

AIP #: XXXX

Author(s): [ENTER AUTHOR NAMES/HANDLES]

Summary

[ENTER A SHORT 1-2 SENTENCE SUMMARY OF THE PROPOSAL, A ‘TL;DR’]

Abstract [What?]

[ENTER A DESCRIPTION OF THE PROPOSAL, WHAT YOU ARE TRYING TO ACHIEVE]

Motivation & Goals [Why?]

[ENTER THE REASONING BEHIND THE PROPOSAL, WHY IS IT IMPORTANT AND USEFUL FOR THE COMMUNITY AND WHAT ARE THE MAIN GOALS]

Specification & Implementation [How?]

[ENTER TECHNICAL AND ANY OTHER RELEVANT DETAILS (E.G. ROADMAP, BUDGET REQUIRED, ETC.) ON HOW THIS PROPOSAL SHOULD BE IMPLEMENTED]

Vote

  • Yes - Approve the [ENTER THE TYPE OF PROPOSAL]

  • No - Do not approve the [ENTER THE TYPE OF PROPOSAL]

NOTE 1: MULTIPLE-CHOICE OPTIONS MAY BE USED IF REQUIRED

See styling template below for Snapshot if the above doesn’t copy:

Title: AIP #: XXXX

**Author(s):** [ENTER AUTHOR NAMES/HANDLES](Link)

## **Summary**

[ENTER A SHORT 1-2 SENTENCE SUMMARY OF THE PROPOSAL, A ‘TL;DR’]

## **Abstract [What?]**

[ENTER A DESCRIPTION OF THE PROPOSAL, WHAT YOU ARE TRYING TO ACHIEVE]

## **Motivation & Goals [Why?]**

[ENTER THE REASONING BEHIND THE PROPOSAL, WHY IS IT IMPORTANT AND USEFUL FOR THE COMMUNITY AND WHAT ARE THE MAIN GOALS]

## **Specification & Implementation [How?]**

[ENTER TECHNICAL AND ANY OTHER RELEVANT DETAILS (E.G. ROADMAP, BUDGET REQUIRED, ETC.) ON HOW THIS PROPOSAL SHOULD BE IMPLEMENTED]

## **Vote**

- Yes - Approve the [ENTER THE TYPE OF PROPOSAL]

- No - Do not approve the [ENTER THE TYPE OF PROPOSAL]

Note 2: Additional sections may be added (before the ‘## **Vote**’ section) based on the complexity of the proposal. The additional symbols before and after the text are used to define the styling in Snapshot (i.e. ‘#’ - for titles, ‘##’ - for subtitles, ‘**’ - for bold effect).

  1. Create a public sentiment vote check by using the template below:

Sentiment check [DEADLINE: 01/01/2022]:

:white_check_mark: Yes - Approve the proposal

:x: No - Do not approve the proposal

NOTE: MULTIPLE-CHOICE OPTIONS MAY BE USED IF REQUIRED

  1. Open a corresponding thread in our Discord server ‘#:clipboard:-proposals’ channel (a top-right thread button next to ‘Notification settings’ and ‘Pinned messages’ in Discord)

  2. Name the thread the same as your proposal in Discourse and post a short message linking to the proposal’s location in the form, e.g.:

AIP #: XXXX

This is a new feature proposal introducing…

Link: https://forum.alkemi.network/…

  1. The main discussion will take place on the Discourse forum, however, please keep the Discord server thread updated at all times based on the changes in the original proposal posted on Discourse

Discourse ‘centralized’ proposals might have longer or shorter deadlines based on the turnaround need. Once the voting period is over, the option with the most votes will be considered the winning option and the proposal will move to the next stage - Snapshot. Otherwise, the proposal will be considered as declined.

[2] SNAPSHOT HARD-VOTE

  1. Go to Alkemi Network Snapshot Space: https://vote.alkemi.network/
  2. Connect your wallet and click ‘New Proposal’
  3. Enter proposal title and details as per your approved Discourse proposal (e.g. ‘AIP #: XXXX’ and Step 3 above in the ‘DISCOURSE SOFT-VOTE’ section)
  4. Add two choices: ‘Yes’ and ‘No’ (NOTE: MULTIPLE-CHOICE OPTIONS MAY BE USED IF REQUIRED)
  5. You should not need to change anything in the ‘Transactions’ section
  6. Select ‘Single choice voting’ (the simplest type of voting; other types might be used for more complex proposals in the future)
  7. ‘Select Start Date’ and ‘Select End Date’ - choose a date after the current date
  8. Click ‘Publish’
  9. Choose to ‘Sign’ with your wallet address
  10. Once the proposal is live, please update the thread you created in our Discourse forum ‘#Proposals’ category and the thread you created in our Discord server ‘#:clipboard:-proposals’ channel with the latest link from Snapshot

Snapshot ‘decentralized’ proposals might have longer or shorter deadlines based on the turnaround need. Once the voting period is over, the option with the most votes will be considered the winning option and the proposal will move to the final, implementation stage handled by the Alkemi Network team. Otherwise, the proposal will be considered as declined.

[3] IMPLEMENTATION STAGE

Once the Snapshot proposal is approved, the team will begin implementing the proposal and will be posting the main updates in the original proposal thread on the Alkemi Network Discourse forum. High-level updates may be posted in the Discord proposal thread.

To summarize:

  • 3 main governance stages:

    • [1] DISCOURSE SOFT-VOTE – ‘centralized voting’, community-driven

    • [2] SNAPSHOT HARD-VOTE – ‘decentralized voting’, community-driven

    • [3] IMPLEMENTATION STAGE – internal, Alkemi Team-driven

  • Low-level (Main) proposal discussions happening on Discourse

  • High-level (Supplementary) proposal discussions happening on Discord

“That’s one small step…” - as Alkemi Network evolves so will our governance process. This is the beginning of a great journey which we hope you’ll be able to follow and participate in!

We’re always open to comments, suggestions, and questions, so please do contact us directly via Discord, Telegram, or email, and we will be happy to help you with your queries and assist you with the Alkemi Network DAO Proposal Process.

Kind regards,
The Alkemi Network Team

#3

To create a poll:

image
image802×381 30.6 KB