Proposals and Voting

Proposals

Participants can create a proposal to change the protocol, like setting performance fees or slippage rates.

The sender must stake 50,000,000 ASTRADAO for 6 months to create the new proposal.

The proposer cannot create another proposal if they have a pending or active proposal. It is impossible to queue two identical actions in the same block (due to a restriction in the timelock); therefore, actions in a single proposal must be unique, and unique proposals that share an identical action must be queued in different blocks.

Voting on proposals

Proposals are voted on in the order they are submitted. The voting period for each proposal is 7 days. Each Governor can vote once with a yes or no for each proposal. If a proposal passes, DAO Governors will be responsible for its subsequent implementation.

Depending on a matter subject to the voting process, the following requirements must be met for a proposal to pass:

  • For any proposals

    • The minimum voting quorum must be at least 33% governors.

    • The number of "YES" votes must be 10% higher than the number of "NO" votes.

If a proposal meets the above criteria and is met within 24 hours of submission, it will be fast-tracked and approved in another 24 hours.

Astra DAO has implemented a gasless voting mechanism using EIP-712 standard. This means voting will be done off-chain, and all transactions will be submitted to the blockchain network as a collection. Once voting is completed, any user can initiate and submit the transaction as a collection to the blockchain network.

Voting power

Voting power is expressed in voting points (VP). One voting point is equivalent to one staking score point. Staking score multipliers apply to voting power.

  • User B bought 100,000 ASTRADAO tokens and locked them in a 12-month vault.

  • He instantly gets the full possible staking score (1.3x) and an additional bonus for putting funds in a 12-month lockup vault (1.8x)

  • His voting power is equal to 210,000 VP from day 1 (it canโ€™t be higher)

Community Grants Awards

For Community Grants to pass, the net total yes votes must exceed 10% higher than the number of "NO" votes. If more passing proposals are available than rewards, the proposal which meets all the criteria and executes first will receive the reward. Grant Awards can be nullified at any time if vote totals fall below the approval threshold. Grant Awards are paid in order of positive net votes.

Discussion

The following diagram represents proposal state flow :

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