Status: Stage 3 - Formal Proposal
This proposal adds an ‘expedited governance’ track to allow proposals which are important and under time pressure to be ratified more quickly, with some exclusions.
This proposal is not eligible for expedited governance (for obvious reasons).
The current governance process has a maximum timeframe of 21 days from start to finish for a prospective proposal to go through. This creates unnecessary overhead and time lost if the content of the proposal is important to the functioning of the DAO, and/or if the proposal in question is under time pressure to be executed.
An example is the delay of the enactment of Compound’s code tweaks to patch the overcompensation token incident due to the typical governance process timeframe, where an expedited governance track can help reduce the effects of loss.
Content of the Proposal/Specification:
The expedited governance process overrides the existing governance procedure by removing the need for an optional temperature check and compulsory signal (Stage 1 and 2), by allowing a proposal to directly enter the formal proposal phase (Stage 3) for a shorter timeframe and also proceed to Snapshot phase (Phase 4), under a shorter timeframe given that the proposal passes up to this point.
There are additional requirements to allow proposals to proceed under the expedited governance track:
The proposal in question must be eligible. As of this writing, eligibility is open for all with the following exclusions:
a. Proposals for membership status changes;
b. Proposals for compensation level changes.
- Authors must declare in the originating thread that they intend for the proposal to go through the expedited governance track.
- The quorum for the formal proposal (Stage 3) is limited and raised to 50% for all SUs and above (ie superUMAns and UMAsters), with a minimum endorsement from 5 UMAsters;
- The threshold for a Stage 3 passing vote needs to be a supermajority (67% and above);
- The quorum for the snapshot vote (Stage 4) is 75% of voters from Stage 3;
- The threshold for a Stage 4 passing vote is 80%.
- Stage 3 and Stage 4 timelines can be reduced to 48 hours each.
- If a vote fails in expedited governance at any point, the proposal in question cannot be placed again under expedited governance and is required to go through the normal governance process.
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- More discussions needed (please post your concerns below…)