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The Basics
HaloDeFi is managed by a decentralized community of HFI token-holders who propose and vote on upgrades to the protocol and overall governance of the platform. voting on proposals held on the HaloDeFi Snapshot Voting Portal. At this time, only proposals posted to the Snapshot voting system by OPERATORS can be considered binding if passed with a quorum.
Voting
VOTE is our voting metric, and is decided as follows:
Each HFI token held in the voters wallet is worth 1 VOTE
Each HFI in the HFI-ETH pool is worth 2 VOTES
Each HFI held via xHFI tokens equal 1 VOTE
For a vote to pass and become binding, it must gain a quorum of at least 5 million VOTES.
Please note: To be an eligible voter for any proposal on our Snapshot, you must have VOTE from any or all of the 3 above options at the time of the vote being started. This means that you cannot simply buy HFI tokens to vote on an already ongoing vote. This is purposefully designed to reduce the risk of influence by whales and flash-loaners and other market manipulators.
Key areas that must solidify before expanding governance:
Logistics Roadmap
- Setup Growth fund (via governance portal)
- Establish core team (via governance portal)
- On going Hiring (via governance portal)
Transparency
- Quarterly/monthly product roadmap
Any use of the dev fund wallet requires that the Treasury Multisig sign it, which they will only do if it is clearly by the will of the community and has had a passing vote by quorum. There must be at least 6 out of 9 signatures for a transaction to be approved.
Our goal is to establish a DAO, with working trustless governance. This is not an easy task by any measure, and is not something that will be rushed. There are at this time no time estimates for when this can be accomplished, but it will surely take well into 2021.
All are welcome to discuss how the future DAO should work, as well as how the current governance model works.
Last modified 1yr ago
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