Governance Process
Section 1: Types of Proposals
Governance occurs through the AIP (Aegis Improvement Proposal) system. AIPs are formal proposals to modify protocol parameters, allocate treasury funds, adjust governance processes, or make other significant decisions affecting the ecosystem.
Types of proposals include:
Constitutional: Changes to this Constitution or the Foundation Bylaws
Protocol: Alterations to smart contract functionality, parameters, or infrastructure
Treasury: Allocation of funds, investment strategies, or financial decisions
Strategic: Introduction of new products, partnerships, or ecosystem expansions
Community: Grants, incentives, or educational programs
Section 2: Proposal Requirements
Each AIP must include:
Title: A clear, descriptive title
Author: The individual or group submitting the proposal
Type: The proposal classification (Constitutional, Protocol, Treasury, etc.)
Summary: A concise overview of the proposal’s purpose
Motivation: Rationale explaining the proposal’s benefits to the Aegis ecosystem
Specification: Detailed requirements and technical or operational details
Implementation: Steps or processes for executing the proposal upon approval
Section 3: Proposal Process
The AIP process follows these stages:
3.1 Phase 1: Preliminary Check (Off-Chain)
Discussion: The proposal is introduced on the community forum for open feedback.
Snapshot Poll (Optional but Recommended): A Snapshot poll or similar off-chain tool is used to gauge initial support.
Minimum Stake: The proposer must control at least 0.01% of Votable Tokens.
Purpose: Determine whether there is enough community interest to advance to formal submission.
3.2 Phase 2: Formal Submission
Submission Portal: The proposal is submitted through the governance portal (Coming Soon).
Classification: The AIP must be properly categorized (Constitutional, Protocol, etc.).
Minimum Stake: The submitting address must control at least 0.5% of Votable Tokens or be a Foundation Director or Supervisor.
Review Period: The community is given time to review the AIP before the on-chain vote begins.
3.3 Phase 3: On-Chain Voting Period (Coming Soon)
Note: The on-chain voting platform is currently under development. Until it is live, voting may occur through interim methods specified by the Aegis DAO (e.g., Snapshot). Once launched, the following rules shall apply:
Voting: Tokenholders cast votes on formally submitted AIPs via the on-chain governance platform.
Quorum:
Constitutional AIPs: 15% of all Votable Tokens must participate.
Non-Constitutional AIPs: 10% of all Votable Tokens must participate.
Passing: A proposal requires more “in favor” votes than “against” to pass.
3.4 Phase 4: Timelock Period
Constitutional AIPs: 5-day waiting period
Non-Constitutional AIPs: 2-day waiting period
Purpose: Allows stakeholders to prepare for the approved changes or opt out if they disagree. Prevents immediate implementation without final review.
3.5 Phase 5: Implementation
Execution: Foundation Directors or designated entities carry out the approved AIP.
Compliance: Implementation must follow the specifications described in the proposal.
Updates: Progress and results are reported to the community, ensuring transparency.
Section 4: Voting Requirements
For a proposal to be valid and binding, the following conditions must be met:
Quorum Requirements
Constitutional AIPs: At least 15% of total Votable Tokens must participate.
Non-Constitutional AIPs: At least 10% of total Votable Tokens must participate.
Approval Thresholds
Constitutional AIPs: Requires a 67% supermajority of the participating votes.
Non-Constitutional AIPs: Requires a simple majority (>50%) of the participating votes.
Section 5: Vote Delegation
AEG token holders may delegate their voting power to trusted delegates who vote on their behalf. Delegation:
Transfers Voting Rights Only: Ownership of tokens remains with the delegator.
Revocation: Delegation can be revoked at any time by the original token owner.
No Transfer Restriction: The delegated tokens can still be transferred or sold by the owner.
Partial or Full: Delegation may cover a portion of one’s voting power or all of it.
Recommended Practices for Delegates:
Open Communication: Maintain transparent communication channels with your delegators.
Clear Philosophy: Be transparent about your decision-making process and voting rationale.
Active Participation: Stay engaged in governance discussions and regularly vote on proposals.
Representation: Always act in the best interests of those who have delegated their voting power to you.
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