šŸŖGovernance

Introduction

DeXter prides itself on being a completely decentralised project from it's outset. Everyone who contributes to DeXter is free to propose suggestions for the project's development, and discussions around such proposals are actively encouraged in DeXter's social channels.

Investigations are ongoing into future governance models for DeXter that would allow governance voting to be handled more effectively on-chain, and would assign voting power based on a number of different metrics, such as time served as a contributor, token weighting etc.

In the meantime, governance is undertaken using a combination of polls in DeXter's Telegram discussion group and also utilising a simple DAO voting mechanism facilitated by CrumbsUp.

CrumbsUp is an on-chain DAO platform that enables token holders to vote on proposals. It is currently in it's infancy and only permits a 1 token = 1 vote system at present.

Suggesting Proposals

For new governance proposals, it is advisable to follow the following process:

  1. Discussions to be started in the Telegram channel to gauge initial support.

  2. Raise a poll in the Telegram channel (this should not be anonymous if possible) to determine participation.

  3. Write a formal proposal in Google docs and share it with the group (ensure comment access is granted).

  4. Allow a period for discussion (normally 1-2 weeks) before formal governance proposal on CrumbsUp.

  5. Create the proposal on CrumbsUp and assign a start date a few days in the future (this allows time for people to move their tokens in readiness for voting - tokens that move after the governance vote starts cannot be counted).

Not all proposals will require a formal proposal and CrumbsUp vote. In many cases steps 1-2 will be sufficient if there is an overwhelming majority. For more complicated proposals however with multiple options, it is recommended to write a formal proposal clearly outlining the details.

Previous Proposals

Below are a list of links to previous governance proposals as an example of the details included (step 3 in the process detailed above):

Tokenomics Design Proposal

Liquidity Boost Initiative Proposal

Validator Node & Staking Incentives Proposal

For the results of previous DAO proposals, follow the link below to the CrumbsUp platform:

Past Proposal Outcome History

TitleResult SummaryStart DateVotes Cast

82.9% in favour of allocating 20,000 DEXTR fortnightly to liquidity providers. See Liquidity Incentives for further details.

24/01/2024

380,722

67.3% in favour of a staking mechanism for DEXTR which would make staking a requirement to receive platform fees and trader incentives

19/02/2024

283,042

93.9% in favour of revising the previous proposal to remove trader incentives from the DEXTR staking mechanism. All trade activity should be rewarded irrespective of whether a user holds or stakes DEXTR.

02/03/2024

422,818

49.3% in favour of DeXter running a validator node and awarding 10,000 DEXTR fortnightly. Due to the low majority this was further ratified in a Telegram poll.

02/03/2024

433,179

2 contributors were shortlisted to run DeXter's validator node. 82.7% voted in favour of @djtrebel being selected to run the node.

27/03/2024

278,794

No quorum reached so the vote is not valid, but 100% of respondents voted Yes to the proposal. This proposal may be revisited in future.

03/05/2024

42,713

73.3% in favour of changing the fortnightly DEXTR allocation as follows: ā€¢ 25k DEXTR to validator stakers ā€¢ 30k DEXTR to liquidity providers ā€¢ 45k DEXTR to contributors (due to reduced contributor rewards the proposal suggests to introduce bounties)

22/05/2024

866,015

Last updated