Galxe DAO is controlled by GAL holders. GAL holders have the ability to control the amount of the Platform Fee collected by the protocol, and control funds held by the Galxe Community Treasury. All proposals need to go through a three-step process described below. In order for a proposal to pass, it must have over 50% passing votes with endorsement from wallet addresses holding at least 2,000,000 GAL, with delegation allowed. When a proposal is passed, the changes will be implemented by Galxe’s operation team and signed by the multi-sig, if necessary.
Proposal
All proposals need to go through the following process:
Phase 1: Temperature Check - Discourse
The purpose of the Temperature Check is to determine if there is sufficient will to make changes to the status quo. To create a Temperature Check, ask a general, non-biased question to the community on the forum about a potential change (example: “Should Galxe DAO launch a new achievement mining campaign?”). Temperature checks are informal. It is for you to use the feedback to decide if you want to proceed further with your proposal.
Phase 2: Draft Proposal — Github
The purpose of the Draft Proposal is to establish formal discussion around a potential proposal. To create a Draft Proposal, follow the instructions here:
Phase 3: Vote Proposal — Snapshot
Once your GP is assigned with a proposal number, you can work with the operation team to schedule a snapshot vote. The snapshot vote will last for 5 days. In order for a proposal to pass, the GP must have:
- Over 50% passing votes
- Endorsement from wallet addresses holding at least 2,000,000 GAL
- If the proposal is asking for funds less than $50,000 or does not implement significant change to the token/contract, the quorum for the vote is 200,000 GAL
Delegation is allowed through this link.
Implementation
When a proposal is passed, the changes will be implemented by Galxe’s operation team and signed by the multi-sig, if necessary.
Multi-signature Signers
The multi-signature wallet signers will be voted in by GAL holders after token generation event. They are also subject to change from future governance votes.
