[GP] Addressing Urgency: Unveiling the Fast-Track Procedure 2.0

General
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Summary

This proposal aims to address procedural gaps by introducing a ‘fast-track procedure’ for the DAO to promptly respond to high priority items. These measures aim to enhance the DAO’s agility and security protocols.

Context and Motivation

The “Formalizing Governance Processes for Seamless Protocol” was the first step in addressing lacunae within our ordinary governance structure. However, it introduced a 15+ days governance usual process.

In order to allow the DAO to address urgent situation the [GP-2] Addressing Urgency: Unveiling the Fast-Track Procedure, reduced the governance process to less than 7 days.

The [GP-4] Governance Reform Proposal removed the off-chain (Snapshot Labs) component for certain categories, thus significantly reducing the general governance process to 7 days. Therefore, it was decided to discontinue the “fast-track procedure”.

Since April, it has become evident that the DAO occasionally needs to act more swiftly than the traditional 7-day governance process allows. This is particularly crucial in situations such as adjusting interest rates and refreshing rewards, where timely decisions can significantly impact the system’s efficiency and effectiveness. Additionally, quicker action may be necessary when addressing security concerns or integrating new partnerships. To maintain our agility and responsiveness, it is essential that we explore mechanisms that enable the DAO to make decisions more rapidly when the situation demands it.

Specifications

We currently suggest two ways to initiate the fast track process for General Proposals (i.e. those that do not require an onchain component) and Protocol Changes Proposals:

Scenario 1: Initiating Fast Track at the beginning of the governance process

The fast-track proposal is slated for an on-chain/off-chain (for those proposals that do not require an on-chain component) vote within 24 hours after its publication on Discourse. For a proposal to qualify for this expedited on-chain vote, it must garner explicit support from a majority of Discourse Level 2 users.

Scenario 2: Initiating Fast Track AFTER the normal governance process has begun

A fast-track proposal can be initiated at any time after the normal governance process has begun if it garners explicit support from a majority of Discourse Level 2 users
Please note that the Fast Track Procedure shall not be applied to Governance Changes Proposals.

1 Like
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I support expediting the governance process, but I have a few concerns:

  1. What exactly defines a Level 2 user?
  2. Is the primary objective of governance to encourage community-driven or prospective partner proposals? How should the community approach these proposals? Recently, most proposals have focused on supporting new markets, such as the QiDAO, SPOT, and Wrapped Super OETHb proposals. Many rely heavily on Chaos Labs’ review and recommendations, with some, like EURC and cbBTC, being prioritized and reviewed. To best serve the community, a clear framework should be established to ensure all proposals are evaluated thoroughly and consistently. We also want to avoid any perception of “governance theatrics,” so encouraging more consistent and frequent participation from community-accepted governance delegates and aspiring delegates is essential.
  3. Regarding reward refreshment, I suggest amending this proposal to include an auto-refresh budget. The proposed amount could be allocated to a separate Smart Contract or Multi-Sig Safe, with funds released on a time or date trigger to ensure rewards are refreshed automatically when needed. This would reduce the need for frequent, additional proposals. The only time a new reward replenishment proposal should be submitted is if the protocol decides to increase or decrease the reward rate for any reason.
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Hi @Guz_MassAdopt ! Thanks for your comments. Will try to give my thoughts:

  1. Level 2 users are those who have a member status on the forum. There are currently 11 Level 2 users (including yourself) Seamless Protocol. U can read how to get it here.. In short, Level 2 are long term users who were most active.
  2. and 3. I agree with you on both items in the sense that we need to address those problems. At the same time, imo we should deal with 1 2 3 separately. This one aims at providing the DAO a possibility to deal quickly when it comes to emergent situation. As for the 2 and 3 I believe they deserve separate proposal (both of them). Will be glad to brainstorm with u to come up with new proposals