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bDIP-11: Dynamic Forum Quorum for bDIPs

Author: Governance Department

BDIP SUMMARY

This proposal suggests adopting a formula-based dynamic quorum for bDIPs in order to better adapt to the DAO’s evolving membership and reduce the impact of voter apathy. The quorum threshold will be updated each month by the Governance Department according to the formula stated in this proposal.

BDIP BACKGROUND

Quorum was defined in the Constitution at a time when there were many more active contributors. The challenge with a static threshold is that it is unlikely to reflect the number of active contributors in the DAO at any given time; attention to governance matters can vary significantly between bull and the bear market phases.

BDIP SPECIFICATION

How can we address this challenge?

We can either update thresholds manually via the bDIP process — a large administrative burden — or we can adopt a formula-based approach which can dynamically update thresholds based on current Forum activity.

How will dynamic quorum work?
  • The Governance Department will make a Forum post each month setting the Forum quorum requirements based on the below formula. bDIP proposers should refer to the latest available forum update for the appropriate quorum requirement.
  • All governance proposals posted in that month will need to meet that quorum threshold to proceed to Snapshot.
  • All governance proposals need to insert a link to the Forum quorum post for the relevant month to enable accurate record keeping.
Changes to the governance procedure

This proposal will modify the quorum table in the Constitution as follows:

| Governance update | Forum quorum | Approval % | Timeline | |-------------------|------------------------------------------------|-------------|----------| | Major | 30-day Average + (0.2 x 30-day Average) | 70% | 1 week | | Minor | 30-day Average | 70% | 1 week | | Patch | 30-day Average - (0.2 x 30-day Average) | 70% | 1 week |

The following text shall be added to the Constitution:

  • All Forum quorum calculations are rounded to the nearest whole number
  • Any poll which has been live for at least 7 days will be used to calculate the quorum threshold.
  • If a Forum post includes more than one poll, each poll should be considered a separate datapoint
  • 30-day Average formula = Sum of votes / number of independent polls
  • The Governance Department is responsible for updating the quorum thresholds at the beginning of each month via a Forum post. bDIP proposers should refer to the latest available forum update for the appropriate quorum requirement
The bDIP proposal template will include the following update:

Insert a link to the quorum threshold for this proposal.

EXPECTED IMPACT

Makes Forum quorum more dynamic and reflective of the latest activity in the DAO.

ANALYTICS

Here is an example of the Forum post that the Governance Department will make:

Quorum Threshold for the month of ‘x’:

| Title | Value | |----------------------------------------|-------| | Major | 50 | | Minor | 41 | | Patch | 33 |

Calculation:

| Date posted | Post title | #votes | |-------------|---------------------------------------------------------|--------| | 02-12-2022 | Snapshot voting - Implement Shielded Voting | 53 | | 14-12-2022 | Weekly rollup recap video series | 38 | | 12-12-2022 | Purpose Driven Guild Funding | 29 | | 06-12-2022 | Proposal to re-create the Education Guild Organizational Unit within the DAO | 29 | | 25-11-2022 | Marketing Department Season 6 - Content Coordinator Re-election | 58 |

NEXT STEPS

  • Update Constitution
  • Update bDIP Format

WORKING GROUP BACKGROUND

Governance Department

Reject
105,708 votes
8 months ago

bDIP-10: Revision to BanklessDAO Constitution

bDIP-10: Revision to BanklessDAO Constitution

Draft Authors: Trewkat, HiroKennelly, links, Ernest of Gaia Working Group: Trewkat, HiroKennelly, links, Ernest of Gaia

BDIP SUMMARY

BDIP BACKGROUND

This work has been supported by the Governance Department with the dual goals being:

  • to update the wording of the existing Constitution so that the information is presented in clear and concise language within an intuitive, numbered structure.
  • to document information about existing governance practices which were not included in the existing Constitution.

The goal for this round of work has NOT been to introduce new governance principles or practices, except where there was concurrent work happening and its inclusion made sense.

Notes from the Temp Check This bDIP follows a Temp Check which included polling on various aspects of the proposed revision.

As a result of Poll 1, the following section of the proposed version has been updated, as follows:

  • 4.6.4 Grants Committee Election Process “… any Level 1 Member may self-nominate … “

The Constitution currently states “anyone may self-nominate”, but 89% of Poll 1 voters were in favour of changing this language to reflect current practice.

Text referred to by the other polls in the Temp Check was already included in the proposed document and this text was accepted by the majority of voters.

  • Poll 2 resulted in 100% of votes in favour.
  • Poll 3 resulted in 84% of votes in favour.

Poll 4 asked whether the proposed revised Constitution is ready to proceed to a bDIP in its current form, and resulted in 91% of voters in favour.

Lastly, as a result of the recent tlBANK proposal passing Snapshot, Section 3.2 of the proposed version has been updated from what was first referenced by the Temp Check to incorporate language about tlBANK. Note the added text does not match the text approved in bDIP-09 but retains the intent.

Vote Time! It’s now time to vote on whether the proposed revised Constitution should replace the existing BanklessDAO Constitution in its entirety, remembering that no changes to governance rights, responsibilities, or processes are enacted by this new version.

BDIP SPECIFICATION

Rather than include the full text of both documents in this proposal, the relevant links can be accessed below.

|Current Form|Proposal| | --- | --- | |BanklessDAO Constitution & Community Handbook |BanklessDAO Constitution |

EXPECTED IMPACT

We anticipate that if the revised version of the Constitution is implemented it will clarify our current governance practices and establish the foundation for future governance revisions.

ANALYTICS

n/a

NEXT STEPS

We expect this to be designated as a Major change; although it does not make changes to governance, it is a substantial revision to the existing document. Therefore, the following governance proposal thresholds must be met on Forum before the bDIP proceeds to a Snapshot vote:

|Governance Update|Forum Quorum|Approval %|Timeline| | --- | --- | --- | --- | |Major|63|70%|1 week|

Snapshot proposals run for seven days and require ≥66% approval. If the bDIP proceeds to Snapshot and is approved, the Governance Department will be prompted to update the Constitution.

WORKING GROUP BACKGROUND

Trewkat, Ernest of Gaia, HiroKennelly, and links are long-time Level 2 Contributors.

POLL

Do you support this proposal for the revised Constitution text to replace the existing BanklessDAO Constitution in its entirety?

  • Approve
  • Abstain
  • Reject

Approve
100,097 votes
8 months ago

Deposit fees from the UNIv3 liquidity position to the multisig

Title: Deposit fees from the UNIv3 liquidity position to the multisig Squad: Icedcool, Tomahawk, Ernest of Gaia, Sprinklesforwinners Date Created: 1/26/23 Forum Post: Link

TLDR:

BACKGROUND

The snapshot vote Tokenomics - Migrate DAO-Owned Liquidity to Uniswap V3 1 pulled the liquidity acquired from OlympusPro Bonding, owned by the treasury, and migrated that over to Uniswap v3 as a full-range position. This was sought in order to have a price oracle that could integrate with RARI (which now no longer supports borrowing) or other DeFi platforms in the future. The UNIv3 position has additionally benefited us by consolidating the BANK-ETH liquidity, driving the majority of the volume to Uniswap and improving fee revenue to the DAO treasury.

Uniswap offers a 1% fee pool for smaller market cap tokens with higher volatility (perfect for BANK), and this pool is now where the majority of the existing liquidity lives. Making Uniswap v3 the primary source of liquidity for BANK has shown to be a clear benefit, supporting the majority of transaction volume and maximizing fee revenue to the DAO treasury.

SPECIFICATION

The steps would be as follows:

  1. BDAO multisig 2 would submit a fee-collecting transaction 1 to collect accrued fees 2 from the UNIv3 liquidity position.

  2. The fees that have been earned would then be deposited into the BanklessDAO multisig.

POLL

Approve Abstain Reject

Approve
100,097 votes
9 months ago

BanklessDAO Multi-sig Wallet election

Title: BanklessDAO Multi-sig Wallet election Authors: Editors: senad.eth#8782, links#7868, Trewkat#1933, HiroKennellyᵍᵐ#0001 Forum Date: 3/22/23 Relevant Links: Forum Post, bDIP-8 Election and Selection of BanklessDAO Vault Multi-Signature Wallet Signers


BanklessDAO Vault Multi-Signature Wallet Election

The BanklessDAO Vault multi-signature wallet (vault multisig) is the holder of DAO funds, and disburses BANK to DAO Organizational Units. It is managed by a team of seven BanklessDAO members, and requires four of the seven members to sign in order for any transaction to be executed.

Multisig Wallet Election Process

This election contains the new electees from this forum post, and to ensure that the multisig always hold enough members the previous holders are available for re-election unless they step down.

The potential new electees are:

The potential previous holder electees are:

Multisig Holders stepping down:

  • frogmonkee#6855
  • RedVan🏴🍌#0611

Vote:

Token weighted voting

100,097 votes
9 months ago

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