The current process of SIP/SCCP governance should be transitioned to use Snapshots gas-less off-chain signaling.
Hi mate. Looks like a nifty site. What is the motivation for using Snapshot. What does Snapshot provide exactly? cheers.
just posted the sip on the official sip website that covers most of the benefits + problem statement https://sips.synthetix.io/sips/sip-90
but I will give a quick TLDR overview
- more Sybil resistant than discord polls
- uses IPFS to verify signatures of votes (through wallet signatures)
- the votes of each individual can be calculated based on a determined value (i.e balance of a particular token, how many trades they’ve done) in our case, we are using the user’s debt percentage which will be quadratically scaled.
- neat UI that categories SIP/SCCP nicely in terms of core and community
- irreversible voting history
Hi, thanks for working on this, would you mind giving the community some insight on how does this work, more specifically, what will be voted on?
From what I understood from this blog post https://blog.synthetix.io/synthetix-foundation-decommissioned/
token holders are supposed to vote for addresses that govern the protocolDAO and that there is a veto power mechanism there… So if had understood that right, the old way of asking the community whether they want to change this or that is done, and it’s protocolDAO that would be handling all this and snx holders would just vote on which of these protocolDAO addresses govern…
@KALEB this is just for using voting on SCCPs using snapshot instead of discord polls. If all goes well then a vote to user for SIPs also.
The parts described in https://blog.synthetix.io/synthetix-foundation-decommissioned/ are also yet to be built. like the delegated migrator https://sips.synthetix.io/sips/sip-59 will allow holders to vote against an upgrade onchain
Alright, thank you for that explanation, could you please tell me what are the main reasons why we don’t skip right ahead to the SIP-59 model? Of people voting for addresses that vote on protocol changes…
Maybe I have things confused, but SIP-90 permanent, or is it transitory until we have SIP-59 going?
I’m in support of anything that accelerates our governance migration to a more sybil resistant process.
A more formal and easily verifiable voting process makes sense.
At the stage snapshot works, no need to re-invent things at this stage.
I think a method of signalling is important even after the delegated migrator which is mainly about veto power over changes that are not supported by some prior signal. Whether this is the signal or discord is immaterial I suppose.
Yeah I agree with you, otherwise holders wouldn’t be as involved and the richness of the discourse would die out…