Welcome to the Pegasys Governance Forum!
Here, we’ll discuss the future of our Pegasys DAO. Debates, such as where we should focus our efforts as a community, are more than welcome. Have a nice stay!
By the time you’re reading this, the on-chain governance and interface probably won’t be live yet - only our forum. The missing pieces for governance should be deployed over the course of the following days and weeks.
This document is a suggested process for developing and advancing Pegasys Governance Proposals. It is a living document intended to be owned, modified, and enforced by the Pegasys community.
Process:
There are two venues available to discuss and govern Pegasys, each serving its own particular purpose.
- Governance Forum
Gov.pegasys.fi is a Discourse forum for governance-related discussion. While our community is most active on Discord, we encourage people to discuss protocol changes and upgrades on this venue, keeping discussions more organized and easy to search.
- On-Chain Governance
Our governance portal will be accessed through our layer 1 website, v1.pegasys.fi through the vote tab. Votes can be delegated and cast through this portal.
The rationale behind keeping keeping the voting on L1 can be found here.
Here are a few ideas regarding the process of governance. These processes are subject to change if the community desires it.
Phase 1: Temperature Check — Discourse/Forum
The purpose of the Temperature Check is to determine if there is sufficient will to make changes to the status quo.
To create a Temperature Check:
- Ask a general, non-biased question to the community on gov.pegasys.fi about a potential change. Forum posts should be labeled as follows: “[Proposal] Your Title Here ”. The forum post should include an associated poll.
- People use the Forum space to discuss arguments in favor and against the suggestion.
- Voters use the poll to indicate their interest in bringing it forward to the next stage.
That’s it! You’ve just started the process of gaining support for a proposal. Important to note that the poll will count only a vote for each forum active member, and this may not be the best indicator of whether the DAO will pass or not the actual on-chain proposal, but it works as a way to gauge interests and opinions.
If the temperature check suggests the possibility of change from the status quo, the topic will proceed to the next stage.
Phase 2: On-Chain Governance — pegasys.fi
Once the proposal gets enough support off-chain, it’s time to change the on-chain code. An on-chain proposal consists of one or multiple actions, up to a maximum of 10 actions per proposal.
To create a Governance Proposal:
- Write the code for your proposal, which can be voted on our governance portal available at pegasys.fi. More resources can be found here. If you don’t have the expertise to write your own proposal, you can get in touch with the Pegasys team and we’ll write it for you if It has enough community support.
- Ensure at least 1% of the PSYS total voting power is delegated to your address in order to submit a proposal, or find a delegate who has enough delegated PSYS to meet the proposal threshold to propose on your behalf.
- Call the propose() function of the GovernorAlpha to deploy your proposal.
Once the propose() function has been called, a three-day voting period is started. Ongoing discussion can take place in the gov.pegasys.fi forum. If the proposal passes successfully, a two-day timelock will follow before the proposed code is executed.
Core team decision-making abilities
Introducing clarity regarding core team decision-making abilities:
[1] Actions outlined in Pegasys Tokenomics (https://pegasys.fi/blog/psys/) may be executed by the core team without prior governance consultation, with subsequent transparency posts on the governance forum.
[2] Any action involving more than 2% of Pegasys’ total token supply mandates a governance vote.
[3] On-chain actions such as treasure token distribution or inflation adjustments will be voted upon.
[4] In cases of time-sensitive issues related to protocol security and stability, the core team reserves the right to take on-chain action without immediate governance consultation. A subsequent forum post will be issued outlining the issue and action taken.
[5] At inception, the core team holds responsibility for risk and parameter definition (e.g., pool tax). The long-term goal is to transition this responsibility to the governance body.
We highly encourage active participation from the community, not only in voting but in discussions, idea-sharing, and other participatory activities. We believe in collective wisdom and your contribution matters to us! Be part of shaping Pegasys’ future.
