Governance flow & processes

Governance process in the RARI Foundation consists of the following stages:

Phase 1: ideation

Duration: 7 days

Authors of the future proposal come up with an initiative, share it with the community and informally gather feedback from community members by engaging with them on the forum.

Phase 2: proposal draft

Duration: min. 7 days

After gathering community inputs, a formal proposal is drafted according to the following structure – abstract, motivation, rationale, key terms, specifications, steps to implement, timeline, cost.

Once the proposal takes its final draft form, it is posted on the official RARI DAO forum, where it stays for at least 7 days for a wider community to review.

After that, any additional feedback is incorporated directly into the Tally submitted proposal.

For detailed instructions on how to draft a proposal, see the following page:

pageHow to write a proposal

Phase 3: submission and live voting

Duration: 5 days

To publish the proposal for on-chain voting on Tally, authors need 5000 veRARI or help from a delegate with 5000+ votes who supports the idea. From the moment of publishing the Proposal on Tally, the community has 5 days to vote "for", "against" or abstain. The quorum requirement is 15% of the total supply of veRARI

Phase 4: Cooldown period

Duration: 2 days

Two days following after the accepted proposal, Board has a right to reject its implementation, if it's found to violate laws, compromise fiduciary duties, cause harm or breach of existing contracts and agreements.

These powers can also be exercised by Security Council that has the power to veto proposals that would be malicious or exploitative in nature, to the Treasury or to the Protocol.

Phase 5: Implementation

Duration: may vary

In this final phase of the governance process, anyone can queue and execute a proposal. Approved proposals self-execute (i.e. approved budget is automatically transferred to the grant recipient on chain). Author of the initiative then administers the implementation of the outlined steps.

For more detailed information on the governance process, you can find our governance contracts below:

Governor: 0x6552C8fb228f7776Fc0e4056AA217c139D4baDa1

Token: 0x096Bd9a7a2e703670088C05035e23c7a9F428496

Timelock: 0x7e9c956e3EFA81Ace71905Ff0dAEf1A71f42CBC5

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