Governance

PUBLIC PREVIEW DOCUMENT

This document is currently in public preview and may change significantly as feedback is captured from the community.

Overview

Xyxyx Protocol is managed by Xyxyx DAO, a decentralized organization of XYXYX token holders responsible for shaping the future of the protocol.

The DAO enables a community-driven approach to decision-making and management, empowering XYXYX token holders to influence the development and operation of the Xyxyx Protocol.

Through a collective voting mechanism and a consensus-building process, Xyxyx DAO ensures that the Xyxyx Protocol evolves in alignment with the interests and inputs of XYXYX token holders, fostering a decentralized, community-centric governance model.


Governance Framework

Xyxyx DAO is responsible for governing the Xyxyx Protocol, which includes (1) dictating the Treasury; (2) dictating the policy for accessing the Xyxyx Launchpad; (3) proposing changes and new features to the protocol, and (4) improving governance itself.

The protocol governance is structured upon two types of governance proposals:

Xyxyx Implementation Proposals (XIPs)

A proposal to change or implement a new feature to the protocol. Learn more

Treasury Management Proposals (TMPs)

A proposal to execute relevant actions involving funds from the Treasury. Learn more


Governance Process

The governance process will typically follow a two-stage process:

(a) a public discussion post on the Governance Forum and (b) a Snapshot voting.

Forum

Governance proposals will typically start with a post on the Forum. The forum post, though optional, is strongly encouraged. Feedback from the community and team will materially increase the chances of a successful and well-aligned governance proposal. Anyone can post and contribute to the discussion on the Forum.

Snapshot

For the execution of governance proposals, author(s) must issue XIPs or TMPs for voting via Snapshot.

Voting is calculated by a weighted voting system, where voting power is proportional to the amount of XYXYX tokens cast, i.e., 1 XYXYX = 0.82% of voting power; 0.5 XYXYX = 0.41% of voting power, and so on.


Governance Parameters

Proposal Threshold: 1 XYXYX

To submit a proposal, you need to have at least 1 XYXYX.

Voting Period: 10 days

Once the voting period is live, DAO members will be able to cast votes during this period.

Quorum: 61 XYXYX

Proposals will only pass if there is enough voting power to pass the quorum.


Governance Infrastructure

Forum: forum.xyxyx.pro

Snapshot: vote.xyxyx.pro


Future Implementations

Xyxyx Protocol will continuously strive towards an ideal balance of decentralization and productivity. In the future, we will be moving towards implementations such as:

  • Move from proxy voting to on-chain voting

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