The following steps illustrate the requirements to raise and vote on a proposal in the scenario where only vesting GRO counts towards votes. When on-chain governance can be used to implement the resulting actions, the on-chain result can be considered as the final vote:

  1. Discuss in Discord at #governance channel
  2. Write a Gro Request For Comments (GRFC) on Gro DAO Forum, following these guidelines on writing GRFCs, and use the poll feature to conduct an informal signalling vote
  3. After at least [6 days]* of GRFC, if feedback has been implemented and there is a general consensus (as determined by GRFC feedback and by at least [30 members] participating in a passing signalling vote) that the proposal should be taken to vote, addresses with [350,000+ vesting or delegated* GRO tokens]** (~1% of current*** GRO Supply), or whitelisted**** addresses; can initiate the respective on-chain proposal, following this Proposal Description Template
  4. This proposal has [2 days]* (in line with Compound) for view before it goes live for voting so that the payload can be updated, any resulting on-chain actions can be simulated, token holders can delegate their voting power or buy more votes before the vote starts, and the DAO can double-check for any potential threats before the vote goes live.
  5. The vote would be live for [5 days]* for on-chain voting, and would need to meet a quorum of [1,500,000 vesting GRO]* (~4% of current*** GRO Supply) and a passing rate of over [50%*]
  6. A successful vote can be queued for [3 days]* of timelock for implementation, allowing time for emergency multi-sig to act if there’s a malicious attack

Screenshot 2023-05-11 at 15.12.49.png


CAVEATS:

*Parameters:

Parameter Definition Tally Recommendation
Proposal Threshold the amount of voting power that an account needs to make a proposal. 0-2% of circulating token supply
at least 5-10 delegates should have enough voting power to make a proposal
Quorum the amount of For votes – sometimes also including the amount of Abstain votes – for a proposal 1-10% of circulating token supply
Voting Period how long voting lasts on each proposal 3-7 days
Voting Delay time between when a proposal is submitted and when it goes up for voting 1 day
Timelock minimum amount of time between when a proposal posses and when it can be executed 3-7 days for if the Timelock has someone with an emergency veto/cancel role and if the governor manages a DeFi protocol

**Delegation:

***Current Supply of GRO Tokens