Proposal Lifecycle

To ensure structured and effective governance for the DAO, a multi-phase process for proposal submission, review, and approval is implemented. To submit proposal, the creator should at least hold 200k stZFI tokens. The process will be divided into two main phases: FIRST CHECK, and ZIP (Zyfi Improvement Proposal). Here is the detailed framework for each phase:

Phase 1: FIRST CHECK

Objective: Verify the interest and feasibility of the proposed idea.

Process:

1. FIRST_CHECK Submission:

   • Format: Use the FIRST CHECK submission template, including a descriptive title, a brief summary, and an explanation of the motivation.

   • Forum: Post the proposal on the Zyfi forum page under the [FIRST_CHECK] category.

   • Link: Include links to specific ressources if applicable.

2. Community Discussion:

   • Duration: The proposal must be open for comments for at least 5 days on the forum.

   • Feedback: Community members discuss and provide feedback on the proposal.

   • Validation for Voting: If none of the Protectors reject the proposal before it moves to Snapshot, it will proceed to the voting phase.

3. Snapshot Vote:

   • Start of Voting: Voting begins 2 days after the proposal is posted on Snapshot.

   • Duration: The vote lasts 5 days.

   • Voting Options: Yes, No, Abstain.

4. Quorum:

   • Requirement: The quorum must reach 1/2 of all staked ZFI tokens at the time of the vote to advance to the ZIP phase. Otherwise, it is excluded. (around 2M stZFI now)

FIRST_CHECK Template

Title: [FIRST CHECK] Proposal Title
Author: Author Name / Entity
Date: YYYY-MM-DD
Summary: Brief description of the proposal.
Motivation: Why this proposal is necessary and beneficial.

Phase 2: ZIP (Zyfi Improvement Proposal)

Objective: Submit the final proposal for an official vote and ensure its implementation if approved.

Process:

1. ZIP Submission:

   • Format: Use the ZIP submission template, including a summary, motivation, detailed specifications, associated costs, and implementation plan.

   • Forum: Post the proposal on the Zyfi forum under the [ZIP] category within 3 days after the FIRST_CHECK proposal validation.

   • Review: If none of the Protectors reject the proposal before it moves to Snapshot, it will proceed.

2. Snapshot Vote:

   • Start of Voting: Voting begins 2 days after the proposal is posted on Snapshot.

   • Duration: The vote lasts 5 days.

   • Voting Options: Yes, No, Abstain.

3. Quorum:

   • Requirement: The quorum must reach half of all staked ZFI tokens at the time of the vote. (around 2M stZFI now)

   • Majority: To be approved, the proposal must receive a majority of "Yes" votes and meet the quorum requirement.

   • Non-Appropriation: Protectors may not approve their own proposals.

4. Implementation:

   • Execution: If approved, the proposal will be implemented by the core contributors under the supervision of the Protectors.

   • Report: A transparency report will be published to explain the actions taken and justify the implementation.

ZIP Template

Title: [ZIP] Proposal Title
Author: Author Name / Entity
Date: YYYY-MM-DD
Summary: Brief summary of the proposal.
Motivation: Detailed explanation of the proposal and potential benefits.
Specifications: Detailed technical description of the proposed changes.
Costs: Estimated costs associated with the implementation.
Implementation Plan: Details on the implementation, including timeline, contingency plans, and target dates.
FIRST_CHECK Link: [Link to the corresponding FIRST_CHECK proposal]