Governance Processes

Governance
1

Before reading our full governance process please remember that for a direct proposal inclusion inside the snapshot you must have at least 1k Favos Tokens. If you do not have this threshold you must follow the Requests for Proposal process below.

Voting:

About Snapshot: Snapshot is a simple voting interface that allows users to signal sentiment off-chain. Votes on Snapshot are weighted by the number of FVS Tokens delegated to the address used to vote.

All Token holders are eligible given they have at least a minimum amount of tokens to add proposals directly inside our Snapshot governance. There will be a minimum proposal threshold of 5k FVS tokens for any proposal to start a voting procedure inside Snapshot; however any of our members are free to discuss any ideas in our discussion forum and suggest the creation of new proposals.

Getting Work Done:

The primary mechanism by which the DAO gets things done is via “Requests for Proposal” (RFPs). An RFP is a request from the DAO for contributors to offer to do work on its behalf, and receive compensation in return.

Anyone who identifies a need can write an RFP, and if the RFP is passed, anyone can write a proposal in response and be awarded for the work. Even if you believe you can do the work yourself, you will still need to pass an RFP in order to be awarded the work (and corresponding compensation) by the DAO.

The RFP Process

RFPs all follow this process:

  1. Write a draft RFP (Link Template) and post it as a discussion thread in the appropriate group on the forum. At a minimum, RFPs must:
    a. Explain the need for the RFP and describe the work to be done - the scope of work and deliverables.
    b. Specify the requirements for a winning bid - criteria for selection.
    c. Provide a timeline for submissions and completion of the work.
    d. Nominate a party who will select a winning bid and approve & disburse compensation (the RFP manager).
    e. Specify a maximum budget for the RFP.

  2. Incorporate feedback from DAO participants into your draft. When you believe it is ready, tag the managers of the DAO and request they consider adopting it.

  3. If the managers agree to adopt your RFP, they will decide if it can be paid out of the current term funds, or if it needs a DAO wide vote.
    a. If the RFP can be paid out with current funds, they will set a submission period and post it as an active RFP.
    b. Otherwise, the managers will create an executable proposal (or, they may ask you to do this) asking the DAO as a whole to approve the RFP. The proposal should contain the RFP. The executable component should specify approvals from the DAO funds to the RFP manager in the amount of the maximum budget for the proposal.

  4. Once the RFP is approved - either by the WG or by a DAO-wide vote - the submission period begins. You or a WG steward should create a post on the DAO forum for proposals, and anyone can submit a proposal to this thread.

  5. Once the submission period is concluded, the RFP manager selects a winning bid. Normally the manager selected will be the leader of the working group who has adopted your RFP.

  6. The author of the winning proposal commences the work. As they meet milestones specified in the RFP and their proposal, they can request compensation from the RFP manager, who disburses it from the allocated funds.