Proposal Process
How to Upgrade the Protocol
The governance process is designed to be deliberate and transparent. Any community member can participate in discussions, but you must hold a minimum threshold of sORCL to submit a formal proposal.
Phase 1: Temperature Check (Discussion)
Before writing code, ideas must be validated socially.
Forum Post: The proposer creates a thread on the Oraclyst Governance Forum using the "Request for Comment" (RFC) tag.
Objective: Gather feedback, refine the idea, and gauge community sentiment.
Duration: Minimum 3 days.
Phase 2: Oraclyst Improvement Proposal (OIP)
If the feedback is positive, the idea becomes a formal OIP.
Submission: The proposer submits the OIP to Snapshot (off-chain voting platform).
Requirement: Proposer must hold at least 100,000 sORCL delegated to their address.
Voting: Token holders vote "For", "Against", or "Abstain".
Quorum: The proposal requires a minimum of 5% of the total sORCL supply to participate for the vote to be valid.
Duration: 5 days.
Phase 3: On-Chain Execution
If the OIP passes the Snapshot vote:
Timelock: The proposal is queued in the Governor Bravo smart contract.
Delay: A 48-hour timelock period begins. This allows users to withdraw their funds if they disagree with the upcoming change (rage quit protection).
Execution: After the delay, any user can trigger the execution function, which automatically applies the code changes or transfers funds on the blockchain.
Note: Non-technical proposals (like brand changes) do not require on-chain execution and are implemented by the Foundation based on the Snapshot result.
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