Galxe DAO is controlled by GAL holders. GAL holders have the ability to control the amount of the Platform Fee collected by the protocol, and control funds held by the Galxe Community Treasury. All proposals need to go through a three-step process described below. In order for a proposal to pass, it must have over 50% passing votes with endorsement from wallet addresses holding at least 2,000,000 GAL, with delegation allowed. When a proposal is passed, the changes will be implemented by Galxe’s operation team and signed by the multi-sig, if necessary.
Proposal
All proposals need to go through the following process:
Phase 1: Proposal Temperature Check - Discourse
The purpose of the Temperature Check is to determine if there is sufficient will to make changes to the status quo. To create a Temperature Check for your Proposal, follow the Proposal Template and post on the DAO Governance category.
Proposal Template:
- Abstract
- Motivation
- Specification
– Overview
– Scope
– Success Criteria
– Timeline/Budget
– References
The temperature check must be held for a period of at least 5 days. If feedback is sufficient, the proposal can move to Phase 2.
Phase 2: Vote Proposal — Snapshot
Once your proposal has passed the temperature check, you can work with the operation team to schedule a snapshot vote. The snapshot vote will last for 5 days. In order for a proposal to pass, the GP must have:
- Over 50% passing votes
- Endorsement from wallet addresses holding at least 2,000,000 GAL
- If the proposal is asking for funds less than $50,000 or does not implement significant change to the token/contract, the quorum for the vote is 200,000 GAL
Delegation is allowed through this link.
Implementation
When a proposal is passed, the changes will be implemented by Galxe’s operation team and signed by the multi-sig, if necessary.
Multi-signature Signers
The multi-signature wallet signers will be voted in by GAL holders after token generation event. They are also subject to change from future governance votes.
