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Raising a Proposal

Proposal

A Proposal is a plan or suggestion, especially a formal or written one, put forward for consideration by others.

Proposal Types

There are two types of proposals with different parameters which affect the length and execution of a proposal, i.e., critical proposals that affect governance consensus require more voting time and a higher vote differential. In contrast, proposals affecting only protocol parameters require less voting time, making the implementation quicker.
As an initial safeguard to the protocol, a guardian account, controlled by a community multisig, is able to cancel a proposal before the proposal is executed.

Short time lock executor

The short time lock executor can execute proposals that change parts of the Capx platform or the Ecosystem reserve that require quick intervention.

Long time lock executor

The long time lock executor can execute proposals that change parts of the Capx platform that affect governance consensus.

Proposer

A formal way of an individual suggesting an improvement in the policy or the functionality of the platform/product, put forward for consideration by others.
A proposer can be the individual holding the governance token itself or who has the delegated proposal power.

Life-cycle of Proposal

1) Proposal Creation

A proposal can be created with the following caveats:
  • The proposer must have a proposal power higher than PROPOSAL_THRESHOLD.
  • The proposer needs to maintain the proposal power threshold or higher until the proposal is actually executed (i.e., during the vote and until the actual execution of the proposal)
The proposal is now in a PENDING state until the vote begins.

2) Proposal Voting

If votingDelay is ZERO, then the voting period begins at the next block. Otherwise, the voting begins after the votingDelay. A snapshot of voting powers is taken and can no longer be delegated/transferred for the proposal being voted on.
The proposal state is ACTIVE, and users can submit a vote for or against the proposal, weighted by the users' total voting power (tokens + delegated voting power), within the allotted VOTING_DURATION.

3) End of Voting Period

For a proposal to pass:
  • The voting power (in % of total voting power) of for-votes needs to reach the quorum set by the MINIMUM_QUORUM parameter, and
  • The difference between for-votes and against-votes (in % of total voting power) needs to exceed the vote differential threshold set by the VOTE_DIFFERENTIAL parameter.
If the proposal has passed, then the proposal state becomes SUCCEEDED, otherwise it is FAILED

4) Proposal Queuing and Execution

A SUCCEEDED proposal can be queued and will be executed after the execution delay and before grace period expiration.
The time lock executor performs the validation and execution of the proposal.
A queued proposal state is QUEUED.
A successfully executed proposal state is EXECUTED.
If a queued proposal has not been executed before expiration, then the proposal state is EXPIRED.

(Optional) Proposal Canceling

If the proposal creator's proposal power decrease and no longer meets the PROPOSAL_THRESHOLD, any user can cancel the proposal.
In addition as an initial safeguard to the protocol, a guardian account, controlled by the Capx Genesis team, is able to cancel a proposal before a proposal is executed.
A cancelled proposal state is CANCELED.
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Proposal
Proposal Types
Proposer
Life-cycle of Proposal
1) Proposal Creation
2) Proposal Voting
3) End of Voting Period
4) Proposal Queuing and Execution
(Optional) Proposal Canceling