🍪Governance
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:
Discussions to be started in the Telegram channel to gauge initial support.
Raise a poll in the Telegram channel (this should not be anonymous if possible) to determine participation.
Write a formal proposal in Google docs and share it with the group (ensure comment access is granted).
Allow a period for discussion (normally 1-2 weeks) before formal governance proposal on CrumbsUp.
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):
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
| Proposal Title | Summary of Result |
|---|---|
82.9% in favour of allocating 20,000 DEXTR fortnightly to liquidity providers. See Liquidity Incentives for further details. | |
67.3% in favour of a staking mechanism for DEXTR which would make staking a requirement to receive platform fees and trader incentives | |
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. | |
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. | |
2 contributors were shortlisted to run DeXter's validator node. 82.7% voted in favour of @djtrebel being selected to run the node. | |
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. |
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