The criteria for creating proposals is significantly higher to ensure the integrity of our governance process. Currently, it requires a 450,000 combined staked balance between FRM GC Arbitrum Pool, cFRM BSC Pool, and cFRM Arbitrum Pool to qualify to create proposals.
We will soon be creating a proposal to share two options to see if this criteria enforcement needs to be adjusted to ensure the DAO is secure from DAO Governance Attacks. For more details on DAO Governance Attacks, please read this informative article.
Before a proposal is created for voting in Ferrum Network’s space on Snapshot, the proposal creator needs to follow the Proposal Suggestion Template and create a proposal suggestion for discussion in the dao-proposals forum in Discord. Once this discussion has been received the Ready For Voting tag, then the proposal creator can create the proposal on Ferrum Network’s space on Snapshot, provided they meet the qualification criteria to be a proposal creator. The Ready For Voting tag is assigned to discussions that are created using the Proposal Suggestion Template, engage community interest and gather community votes in the discussion by a moderator to push this for an official vote.
We are utilizing a custom
staked-defi-balancestrategy to check the qualification of the proposal creators and voters, contributed to Snapshot by Taha Abbasi. More information about this qualification strategy can be found in Snapshot’s public open-source repo here.