Bitcarbon Governance Process

The governance process will typically follow a two-stage process: a forum discussion and an on-chain vote. Governance proposals will typically start with a post on the Bitcarbon Governance Forum. Feedback from the community and team will materially increase the chances of a successful and well-aligned governance proposal. Anyone can post and contribute to the discussion on the forum.

Once the governance proposal is finalized, you can submit a proposal for a binding on-chain vote. The DAO is a fork of [Compound’s Governor Bravo] and uses [Tally] to manage the on-chain voting process. Voting power is based on Bitcarbon token ownership, and token holders can delegate their voting power to other wallets.

The DAO parameters are set as follows:

(i) Proposal Threshold: 100,000,000 Bitcarbon

To submit a proposal, you need to have this much voting power (directly and/or delegated to you). This rule is necessary to reduce spam or malicious proposals.

(ii) Voting Period: 3 days

Once the voting period is live, users will be able to cast votes during this period, after which the proposal becomes binding and can be executed.

(iii) Quorum: 1,000,000 Bitcarbon

Proposals will pass only if there is enough voting power for quorum.

(iv) Timelock: 1 day

Successful proposals will execute after this delay once the voting period completes.

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