MuesliSwap Governance Process - Discussion

Proposals
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Dear MuesliSwap Community,

We are excited to announce that our off-chain voting component will soon launch, which is an important step towards better governance on the MuesliSwap platform. In this blog post, we will outline the steps of the off-chain voting process and answer some important questions that are still being discussed within the community.

Off-chain voting is a process where votes are cast outside of the blockchain. This is done to reduce transaction fees and to make voting more accessible to the MILK holders. At MuesliSwap, we believe that governance is an important aspect of any DeFi platform, as it ensures that the community has a say in the development of the platform.

To perform an off-chain vote, we suggest the following workflow:

Step 1: Idea generation

A community member creates a blog post on the MuesliSwap Governance Forum with their idea for a proposal. The community can then discuss the idea and provide feedback. This idea should be focused on off-chain governance factors, such as treasury management or community initiatives.

Step 2: Proposal creation

Once the idea has been discussed, the community member can create a formal proposal following a template that will be provided. This proposal should outline the details of the idea, including how it will be implemented, what resources are needed, and how it will benefit the community.

Step 3: Temperature check

Before an official off-chain vote is performed, a temperature check is conducted on the MuesliSwap Governance Forum. This is an informal vote where community members can show their support or opposition to the proposal. If more than 20 accounts agree that the proposal should go into voting, an official off-chain vote will be performed.

Step 4: Snapshot date and voting

A snapshot date will be determined, and an official election will be created in the MuesliSwap Voting DApp. The election can only be created by a member of the MuesliSwap Governance board. Community members will be able to cast their votes on the proposal during the voting period. After the voting closes, the official results will be published to the community. In the MuesliSwap Voting DApp votes will be weighted by the number of MILK they hold in their wallet or they have staked at the time of the snapshot.

There are still some important decisions that need to be made regarding our off-chain voting system. These include:

  • How should we elect the Governance Board, and how big should it be?
  • How long should an official vote be open for?
  • Do we have a minimum threshold of MILK that needs to participate in a vote?
  • Do we want to incentivize participation in votes?

We are currently discussing these questions with the community, and we welcome any feedback or suggestions that you may have. We believe that together we can create a more inclusive and democratic governance system that will benefit everyone in the MuesliSwap community.

Thank you for your continued support!

20 Likes
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I am fully on board with this idea as far as the size of the governance board side of things that should really be considered… some community members may want 10 board members but feasibility might be half of that.

Incentivizing the vote does seem like a good idea as far as what to incentivize with you can always start with $hosky… As jokingly crazy as that sounds it’s there.

Milk threshold definitely needs to be considered in my personal opinion . kind of how they approach the catalyst vote it’s not a huge barrier to entry but it’s necessary.

As far as the amount you have to see how many people hold it and how big their bags are …25 milk is a perfect number for someone like me, but then if you need 2500 milk :milk_glass: that is the barrier that I have to jump but it’s possible.

5 Likes
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I’m completely for this idea of Governance process. In terms of length of voting, 1.5-2 weeks should be suffice enough. Incentivizing participating votes is an interesting idea depending on the route we take with that. In terms of snapshot, that MILK has to be in the wallet. The reason I ask is many do have MILK locked in LP.

Like @Lourde has mentioned above a certain threshold should be there which allows even the small players to obtain MILK without issue. Personally I think 50 MILK is a decent amount one should hold in order to vote.

3 Likes
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To clarify, my previous comment was regarding the overall participation threshold required for a vote to be valid, rather than a minimum threshold for individual voters. For instance, if only a small percentage (such as 1%) of the total MILK supply participates in a vote, we may need to consider whether it is still considered a valid vote or if a minimum threshold of overall participation is required.

On an individual basis, as little as 1 MILK could be sufficient, as the weight of each vote is already factored in?

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Will the governance be an onsite event or will there be a dedicated webportal to go to, also will a lock up be required a’ la INDY / LQ

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This is really useful to read and totally missed it before :sweat_smile:

@niels_muesli now that we’re starting to get some proposals and temp checks on the board could you pin this post to the top for visibility? Think it’s gotten a bit lost in the sauce at the moment. As we progress through the first few votes it might also encourage people to add ideas as to what has worked or not for them through the governance process.

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