How the Proposal System Works
Okay team, now we need to rally support for the proposal. Tell all your friends to vote!!
Basically proposals currently work like this. You must lock 1000 DAPP to propose a proposal. You have 720 hours to get it accepted by way of at least 2% of tokens voting on it yes or no.
Then you have 72 hours to get 10% of the total votes to vote more yes’s than no’s to move the proposal to being approved.
Then you have to wait 48 hours for the final round of voting, after which if the yes’s outweigh the no’s then the proposal moves to Implemention-Queue. Once here it is up to the DAO msig signers to implement the proposal. After they implement, the proposal is moved to Implemented.
To move the proposal through the different phases you can click Update Tally.
To vote yes/no you can click vote.
The following is a more technical overview of the proposal flows.
- Created - proposal created
- Accepted - if
accept_vote_per%age passed before accepted hours passed, return proposal fee, otherwise mark as Expired and return proposal fee
- Approved - after time lock hours expires, if yes outweighs nos, set to Implemention-Queue otherwise mark as Rejected and allow time lock hours to repeal rejected decision by acquiring more yes’s than no’s
- Implemention-Queue - run implement action to Implement
- Implemented - proposal implemented
- Expired - if
accept_vote_per%age not passed before accepted hours
- Rejected - after accepted phase, no's outweigh yes's
- asset proposer_fee - fee proposer must lock before creating proposal
- uint32_t accept_vote_per - percentage before proposal is accepted and proposer fee can be refunded, 2%
- uint32_t approved_vote_per - percentage before proposal can be approved, 10%
- symbol tokensymbol - token symbol used for dao contract
- name tokencontract - token contract used for dao contract
- uint32_t timelock_hours - time in hours before proposal can be approved or rejected
- uint32_t approval_hours - time to allow for more votes than approved_vote_per, more yes’s than no’s otherwise rejected
- uint32_t accepted_hours - hours before proposal expires
- uint32_t unlock_hours - hours to unlock locked tokens
- name feecontract - contract to hold proposal fees until and if refunded
- asset userreward - reward for putting forth proposal
- name rewardacc - contract providing user rewards
- asset minlockamt - min amount to lock