Governance flow & processes
Last updated
Last updated
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 , where it stays for at least 7 days for a wider community to review.
After that, any additional feedback is incorporated directly into the submitted proposal.
For detailed instructions on how to draft a proposal, see the following page:
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:
Token:
Timelock: