PermaDAO Onchain Governance Proposal #1

Author: 0xmiddle @ Contributor for PermaDAO

Translator: ling xia @ Contributor for PermaDAO

Reviewer: Tina XU @ Contributor for PermaDAO

I. Background

PermaDAO has initiated the governance token HALO, and the airdrop for the management guild has been completed. It is now time to take the first step towards token governance.

II. Proposal Content

Initial proposal rules, specifically targeting the management guild (token governance for other guilds has not yet started)

The proposal consists of four stages:

• Preparation period: The proposer initiates a proposal. During this phase, the proposer needs to stake 20,000 $HALO weight, and they can also invite other DAO members to stake. ($HALO in the Admin Pool has 10x voting weight, where 1 vote counts as 10 votes). During this process, the proposer can convene meetings and present the proposal to garner support.

• Voting period: Once the proposal's staking requirements are met, it enters the voting period. The voting period can range from a minimum of 3 days to a maximum of 7 days (if the approval conditions fail to meet the approval criteria after 7 days, it is considered rejected). The approval criteria for voting are as follows (all must be met simultaneously):

  • At least 300,000 $HALO must participate in the vote.

  • The weight of affirmative votes is not less than 2/3

  • The voting period has lasted at least 3 days.

• Confirmation period: After the voting meets the approval criteria, it enters the confirmation period. During this period, users can continue voting. The confirmation period lasts for 1 day. After 1 day, the proposal is officially passed and enters the execution period.

  If during the confirmation period, the voting results no longer meet the approval conditions, the proposal will immediately return to the voting period, and the voting period will be recalculated.

  In other words, the approved status of the proposal must be maintained throughout the confirmation period. If it cannot be maintained, it will be returned to the voting period.

  The existence of the confirmation period can effectively prevent large户s from manipulating the voting results in the final stage of voting.

• Execution period: After the proposal is passed, it enters the execution period. Currently, it is manually executed by the developer of the $HALO governance system, and it will gradually transition to automatic execution in the future.

At this stage, there is no Conviction Voting mechanism. Token weight is not related to the duration of the stake, which may be added in the future.

III. Proposal Execution

It takes one contributor in the development guilds to develop a simple Voting System to implement the above rules.

In the future, any adjustments to the proposal rules or the addition of new governance tracks will need to go through the current proposal rules. Proposals for HALO airdrops or other activities will also need to go through the proposal process.

Note:

We have conducted a total of two rounds of airdrops so far:

• In the first round, approximately 10,000,000 HALO tokens were airdropped to 70 addresses (everPay Centified NFT holders). These HALO tokens are staked in the Basic Pool without any voting power bonus.

• In the second round, approximately 878,000 HALO tokens were airdropped to 38 addresses (guild managers).

The second round distributed HALO tokens are staked in the Admin Pool with a 10x voting power bonus for guild governance, meaning one vote is equivalent to ten votes. If a user unstakes HALO from the Admin Pool, it can only be staked to the Basic Pool and cannot be restated in the Admin Pool. Only HALO obtained by contributing to the management guild will be added to the Admin Pool.

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