📝Governance Discussion and Voting
We use Forum for Governance Discussion and Proposal. If you are new, here are recommended topics you might find useful:
You can sign up and use the Forum here.
For Governance Proposal voting, you can visit Snapshot here. If you have never used Snapshot, you can learn how to Vote on Alpaca Improvement Proposal here.
Community Rules & Guidelines
When it comes to using Forum, we've got several rules and guidelines to ensure that the community can discuss and propose potential improvements in a positive way.
This is a Civilized Place for Public Discussion
Improve the Discussion
Be Agreeable, Even When You Disagree
Your Participation Counts
If You See a Problem, Flag It
Always Be Civil
Keep It Tidy
Post Only Your Own Stuff
You can read the thorough details for each point here.
How to Develop a Community Proposal
As part of Alpaca Finance’s governance process, the community will be able to submit a Community Proposal to the forum, which other community members will be able to comment & discuss on.
To ensure that other community members will be able to provide constructive feedback on the proposal, the proposal should at least include all of the following components in the following order:
Summary: A one-liner that gets to the point and summarizes your proposal
Abstract: A paragraph summarizing what your proposal is about.
Overview: Paragraph(s) that explains your proposal in specific details. You should try to be as informative and specific as possible in this section. The more detailed, the better, as other community members will be able to provide constructive feedback on your specific points.
Motivation: Explanation of the motivation behind your proposal. Essentially, this component should explain why this proposal would be beneficial to Alpaca Finance and its community members/users
References: Any reference points that would substantiate your point/argument within the proposal
When creating a proposal, please also make sure to put the proposal under the correct sub-category. The full list of sub-categories are as follow:
Partnerships: Proposal on new grazing range partnerships and/or new partnership ideas
Farming & Lending Pools: Proposal on listing of new farming pools or lending pools
Product & Feature: Proposal on launching new products and/or features.
Prioritization: Proposal on re-prioritization of development effort
Warchest Fund Utilization: Proposal on utilization of Warchest Fund for strategic initiatives
Protocol Parameters: Proposal on adjustments to protocol parameters
Others: Proposal on topics not included in the sub-categories above
Process for Governance Proposal for Alpaca Finance
The forum is established as a space for Alpaca Finance community members to discuss and propose potential improvements that can be made to help ensure Alpaca Finance remains at the forefront of Leveraged Yield Farming Protocols.
Below is the process on how a governance proposal is put up for voting:
Phase 1: Community Proposal & Discussion
During Phase 1, community members will be able to put up a community proposal in our forum under the category called “Community Proposal & Discussion”. When creating a community proposal, be sure to put the proposal in the correct sub-category. The list of the sub-categories are as follow:
Partnerships: Proposal on new grazing range partnerships and/or new partnership ideas
Farming & Lending Pools: Proposal on listing of new farming pools or lending pools
Product & Feature: Proposal on launching new products and/or features.
Prioritization: Proposal on re-prioritization of development effort
Warchest Fund Utilization: Proposal on utilization of Warchest Fund for strategic initiatives
Protocol Parameters: Proposal on adjustments to protocol parameters
Others: Proposal on topics not included in the sub-categories above
Once a community proposal has been submitted, other members will be able to react and discuss the topic in the proposal. Proposals that receive the most traction from the community members will proceed to Phase 2.
For a guide on how to create a Community Proposal, please check "How to Develop a Community Proposal".
Phase 2: Request for Feedback (RFF) / Draft Alpaca Improvement Proposal (AIP)
The team will then create a thread under the category called “Alpaca Improvement Proposal (AIP)” to consolidate the discussion on the specific topic. Community members will be able to participate in this phase by discussing the topic and provide feedback to help refine the proposal.
The refinement process from a draft proposal to the final version of the AIP will last 3 days to provide ample time for the community members to react. An AIP will need to receive at least 5% of upvotes (Quorum) from the total number of Forum members to be put up on Snapshot for voting.
Phase 3: Community Voting Through Snapshot
Once an AIP has been finalized, it will go through the community voting process on Snapshot. The voting period will also last at least 3 days to ensure community members have enough time to participate in the process. Once the voting period concludes, the development team will take action according to the consensus of the community.
As per AIP-28, the Governance voting structure will be as follow:
At least 72 hours of voting time for each proposal.
Shielded voting for all proposals
All voting choices shall be put on equal footing. For example, if the proposal is on changing a protocol’s parameter and there are multiple possible parameter values to select from, we will conduct a series of votes with the first vote being a YES or NO on whether to change the parameter.
There will be an option for users to vote Abstain. This way, xALPACA holders can still contribute to the quorum on a topic that they don’t have a strong opinion or preference.
For a “simple voting” topics where there are only two choices (i.e., YES or NO), the YES vote just need to be greater than the NO vote for the proposal to pass. There is no need for YES vote to be > 50%
In the case where the number of voting choices > 2, we WILL NOT require the winning result to receive > 50% of the votes, unless specified prior to the vote. The rationale behind this is to save time / energy from too many votes. Moreover, if the voting structured is well thought out (as in point#3 above) the multiple choices (>2) would be the final vote in a series of votes.
We have now set up a snapshot for governance voting. Any proposals will be put through here.
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