Proposal Process
How are decisions made in the Franken DAO? Learn more about that here.
The governance process in place for the Franken DAO was created to ensure that all members, both small holders and whales have the chance to participate in as equal a manner as possible. The following section will cover everything you need to know to fully vote and participate in the Franken DAO.
Part 1 - Purchase & Stake
To participate in any level of the Franken DAO, you must hold a Genesis FrankenPunk or Franken Monster. They can be purchased off of our official Opensea collection page. Once you have done that, you will need to stake your FrankenPunk to our DAO staking contract. This contract will give you back a "stakedFrankenPunk NFT" and will refund the cost of staking (pretty neat, eh?).
To curate and protect our DAO membership, we will be instituting a "staking window". This means that holders will only be allowed to stake their FrankenPunks in a 48 hour window from Saturday at 11:59am - Sunday 11:59pm.
Any holder may join the DAO, the window will be open every week. Once you stake yours, you do not need to do it again.
Part 2 - Community Discussion
The first step in the Franken DAO proposal process is to have a community discussion. This is important to gather feedback and create a high-quality proposal. The proposal should align with the goals and values of the Franken DAO community.
In order to submit a proposal for community discussion please open a ticket in the "DAO OFFICIAL" section of the discord.
Once you submit a ticket our DAO Lead will work with you to formulate your proposal so that it meets the Franken DAO mission.
Part 3 - Temperature Check
This is done after the Discord proposal creation process. This check utilizes Snapshot.org API which is integrated through the Franken DAO application.
Temperature checks use a reduced quorum calculated from the on-chain and halved quorum. This is pushed onto the Snapshot.org proposal model to be read at a later time. Nothing on Snapshot.org will actually use this number, this is only for the FrankenDAO application.
A proposal creator can always cancel their proposal by scrolling to the bottom and clicking the “Cancel proposal” button
Temperature checks have currently a 1-hour voting delay and 3 days (36 hours) voting period.
Council members and admins can cancel the proposal only through the Snapshot.org website. There is no API currently to allow this to happen via the FrankenDAO app.
Any user with voting power (on-chain) can vote on Temperature checks. This uses the same on-chain function to determine their voting power. Users can only submit one vote. If a user has delegated voting power, they cannot vote on a proposal.
A Temperature check passes if both the For votes are greater than or equal to the quorum and For votes are greater than the Against votes.
If a temperature check passes, users with enough VP to create an on-chain proposal can promote a temperature check.
If the Promote button is disabled, that means the user does not have enough VP to promote it to the Final phase. If a user hovers over the button, it will let them know how much VP is needed to promote.
Note: There is currently nothing in place to stop a temperature check from being promoted multiple times.
Part 4 - Final On-Chain Proposal
A proposal gets created when someone with enough VP clicks the “Promote” button on a passed Temperature check. It will show "Final" in green on the proposal preview section.
Note: A user can only have one active proposal at a time. There is nothing to prevent a user with enough VP to go and call the proper on-chain functions to create a proposal - though this would potentially break automated systems.
When a Final proposal is made, a decision from the Council needs to be made before the proposal can be voted on. The council needs to either verify the proposal (approve it for voting) or veto the proposal (deem it an invalid proposal and prevent voting).
Note: This step can be done through the Council wallet or the Admin wallet. These two wallets can veto at any time during a proposal’s process up to the point that the proposal is queued.
Final proposals currently have a 12-hour voting delay and 5 days (120 hours) voting period.
After a Final proposal is verified and the voting delay has elapsed, users with VP can submit their votes. They are allowed to vote only once. Users who have delegated their VP, cannot vote for the proposal themselves.
The quorum for Final Voting power is determined at the time of creation and is a percentage of the total DAO voting power. This setting can be adjusted using the function setQuorumVotesBPS. There is a helpful UI to do this through the FrankenDAO website for admins and council members.
A Final proposal passes if both the For votes are greater than or equal to the quorum and For votes are greater than the Against votes.
After the voting period ends for a Final proposal, the status of that proposal will change based on if the proposal passes or not.
If a proposal failed, it will be Denied. No further action can be taken on this proposal and it allows the user who promoted it to go ahead and promote another proposal.
If a proposal passed, it will be waiting for it to be queued. Queuing can happen by any user and will be visible where the vote button was.
After a proposal is queued, it has a 2-day grace period. This can not be changed. This is to allow Council or Admin to veto the proposal and prevent any malicious activity.
After the 2-day grace period, a user can then go ahead and click the button to Execute a proposal.
Note: The user who executes the proposal also pays for the gas of each underlying transaction the proposal had.
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