Governance Process

Overview

Governance Forum → XIP Creation → Community Poll → Snapshot Vote → Implementation

The processes described below are an overview of the official ways to participate in X528 DAO in various parts of the lifecycle as a staked X528 (stX528) holder or contributor.

• X528: The un-staked version of X528 does not have the ability to vote on governance proposals. It must first be staked.

• stX528 Token: This is the staked X528 token in the X528 protocol’s governance contract. This has a Voting Weight of 100%.

Stage 1: Governance Forum

The purpose of this phase is to engage the broader X528 community about your idea. Anyone can participate in this phase of governance, and it occurs entirely off-chain. The goal of stage-1 is to generate feedback and brainstorming along with establishing a community consensus.

Forum tag: stage-1

Duration: Open-Ended

Stage 2: X528 Improvement Proposal (XIP) Formalization

If there is good traction for the idea by the community, it moves to stage-2 where it is formalized into an XIP. Only one proposal can be included per XIP and they must have the following structure (refer to the XIP template for a detailed breakdown):

• Title

• Summary

• Purpose

• Technical Specifications

• Implications

Once the XIP has been created, the author must post it on the X528 governance forum and use the tag: stage-2.

Forum tag: stage-2

Duration: Open-Ended

Stage 3: XIP Community Poll

At any point during stage-2, the author may move the XIP into stage-3 by initiating a community poll. To accomplish this, the author must change the tag of the forum post to stage-3, and add a forum poll to see if the XIP should proceed to stage-4 or not.

Note: the author should only proceed with the poll once all community comments and concerns have been addressed.

The poll must be open for 3 days and only have the following options:

• (Yes) In favor of this proposal.

• (No) Against this proposal.

For a stage-3 vote to be considered successful, a majority of votes cast must be in favor. There is no minimum quorum required for the vote.

Forum tag: stage-3

Duration: 3 days

Stage 4: Snapshot Vote

In stage-4 XIPs are voted on by the X528 Network DAO off-chain via Snapshot. The Snapshot vote must link to the stage-3 forum poll and include the full text of the finalized XIP. This vote will be added to the queue of voting proposals that will open on the 25th day of each month. DAO Chancellors will initiate the Snapshot votes during the voting period as long as all requirements of stage-3 are met. Once the Snapshot vote has been created, the forum tag should be changed to stage-4 and the title of the post should have the next XIP-# added as the prefix.

Once the Snapshot vote is available, addresses with voting power may vote for, against or abstain from voting on the proposal.

• (Yes) In favor of this proposal.

• (No) Against this proposal.

• (Abstain) Neither In favor nor Against

In order for a vote to be considered successful, both of the following must be met:

• A minimum quorum of 2.5 million weighted votes must be cast.

• A majority of the votes must be (Yes) I am in favor of this proposal.

Forum tag: stage-4

Duration: 5 days

Stage 5: Implementation

Following the Snapshot voting period, the results will be posted on of the X528 governance forum site. If the proposal has passed, it will move from the Active to Passed category. Unsuccessful proposals will move to Not-Passed.

SafeSnap allows for on-chain execution of the off-chain Snapshot vote by using the reality.eth oracle. Reality.eth has a 72 hour escalation period where the vote may be challenged by the X528 DAO Chancellors. Once this 72 hour escalation period has elapsed without challenge the XIP will be oficially implemented.

Duration: 6+ days