Current draft, still need to flesh out how long the inaugural Parliament will last, as we are currently acting with the estimate of 1yr (to end in April 2024). Also for On-Chain vs Off-chain voting we still need to decide what and how will be governed by what mechanism. Providing to the community to open discussions.
P3 Proposal: Adjusting Quorum Thresholds and Proposal Lengths
MetaContent
- P3 Number: TBD (To be determined by P3 Moderator)
- Title: Adjusting Quorum Thresholds and Proposal Lengths
- Author: [Your Name]
- Sponsor: [Sponsor’s Name]
- Status: DRAFT
- Type: Task
Summary
This proposal seeks to adjust quorum thresholds and the lengths of various proposal stages in line with the Ethereum block times, aiming to optimize the efficiency and responsiveness of Premia’s governance processes.
Abstract
Premia’s governance processes currently operate on predefined timeframes and quorum thresholds. However, these settings may not always align with the community’s needs or the realities of the Ethereum network. This proposal seeks to adjust these parameters to better serve the Premia community.
Motivation
The motivation behind this proposal is to increase the efficiency of Premia’s governance processes and ensure they are responsive to the community’s needs. By adjusting quorum thresholds and proposal lengths, we can ensure that the governance processes are not unnecessarily delayed or obstructed.
Specification
The following changes are proposed:
- Parliament Proposal Length: Adjusted within 25,000 to 100,000 blocks (0.25 to 1 Epoch).
- Blue Descent Proposal Length: Unchanged at 100,000 blocks, equivalent to 1 epoch (~14 days).
- Snapshot Vote Length: Adjusted within the range of 25,000 to 100,000 blocks (0.25 to 1 Epoch).
- Quorum Thresholds: To be determined based on community input and analysis of past voting patterns. Currently: Majority Wins
- Proposal Election Term Milestones: Adjusted to the following schedule:
- Discussion: Blocks 100,000 to 300,000 (Epoch 1-3)
- Drafting: Blocks 300,000 to 600,000 (Epoch 3-6)
- Signaling: Blocks 600,000 to 700,000 (Epoch 6-7)
- Bill Voting: Blocks 700,000 to 800,000 (Epoch 7-8)
- Reflection Period: Blocks 800,000 to 900,000 (Epoch 8-9)
- New Electorate Period: Blocks 900,000 to 1,000,000 (Epoch 9-10)
Rationale
The proposed adjustments align the governance processes more closely with the Ethereum block times, which can lead to more predictable and efficient processes. They also allow for more time for discussion and consideration of proposals, which can lead to better decision making and increased community engagement.
Test Cases
Test cases will be developed during the implementation phase, focusing on the new proposal lengths, quorum thresholds, and milestone schedule.
Copyright Waiver
This P3 is in the public domain and the author waives all copyright and related rights to the extent possible under the law.
As with the previous proposal, this is a draft proposal and may require modifications and a sponsor before it reaches the P3ND (Proposal Under Review) status. This proposal should be discussed within the community to gather feedback and build consensus. The final version should be written in markdown format11.