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Governance Structure
Here we provide a brief overview of our proposal process and Community-owned Treasury.
In the long term, we envision Soul Protocol to be a community governed protocol, such as a DAO. SOUL is a governance token that enables holders to vote on community proposals.
Community proposals will be submitted to our forums, where members can discuss its merits and clarify questions. Proposals may be brought up for voting by core team members, if they gain sufficient traction. Please see the Forum for full details regarding the structure for proposals.
Proposals will be voted on, with AURA to decide the outcome.
AURA is determined by:
- SOUL paired with FTM or USDC is worth 2 AURA per underlying SOUL.
- SEANCE paired with FTM or USDC are worth 2 AURA per underlying SEANCE.
- SOUL held by in your wallet is worth 1 AURA each.
- SEANCE held by users is worth 1 AURA each.
Please note: to be an eligible voter for any proposal on our Snapshot, you must have AURA from any or all of the 3 above options at the time of the vote being started. This means that you cannot simply buy SOUL to vote on an already ongoing vote, and is meant to reduce the risk of influence by whales and flash-loaners.
For a vote to pass and become binding, it must gain a quorum of at least 1,000,000 AURA.
The proposal process is outlined in the Proposal Process Forum Post created by the cofounder, Buns, and is accessible here: https://forum.soulswap.finance/t/proposal-process/16
Additionally, when creating a proposal, you are able to utilize the template that is accessible for all community members, for your convenience. Snapshot Proposals without a corresponding Forum Post and link to the Forum Post in the details of the Snapshot are considered invalid and will be deleted. We request that you take note of this before drafting a proposal.
Every use of the treasury will require that the multi-sig sign it. The members of the multi-sig should only sign it if it is the will of the community and has had a passing vote by quorum. There must be a majority of signatures for a transaction to be approved.
Last modified 1yr ago