YIP-40 Governance Process Update - Snapshot Signalling Changes

YIP-40 Governance Process Update - Snapshot Signalling Changes

Basic Summary
Update the parameters of the governance process to improve efficiency and fairness for all participants. The specific element changes the requirements for snapshot votes See this post for more in depth discussion of rationale: Proposed Updated Governance process (v0.1)

This proposal seeks to adopt some of the ideas that have been discussed in governance discussions. A new type of snapshot vote would be added called a “signalling snapshot” that has no quorum. The required YAM amounts to create snapshot votes will be changed. A “final snapshot” will be required to move to the development and on-chain portion of the governance process.

The continual improvement of the YAM governance process as we evolve and learn is important to the development of YAM. A smooth and flexible governance process is key to the future success of the YamDAO.


All YAM quantities noted below are in scaled YAM (what you see in your wallet, and not BoU)

The proposed change is to create two separate types of snapshot votes: Signalling and Final.

Signalling Votes are used to determine support for a proposal and to determine parameters for governance actions. We propose that these votes require 2,500 YAM to be created. There is no quorum requirement on these votes and they can take any form (yes/no, percentage, ranked choice, etc).

Final Votes are used to ratify a proposal using snapshot. They require 10,000 YAM to be created and must be in a YES/NO format. They have a minimum quorum requirement of 500,000 YAM voting “Yes” and will pass with >50% of the votes (same as on chain votes).

This will require some work within the snapshot system to implement, which I leave to devs to comment on feasibility. I have no reason to believe it is not possible, although tweaks may occur once ratified based on feedback from developers. If there are changes to the specifications based on this feedback the proposal will be brought back to be re-ratified.

Poll to Measure Sentiment

Update Snapshot voting per this proposal
  • Yes
  • No

0 voters

Signalling Snapshot Creation minimum of 2,500 YAM is acceptable
  • Yes
  • No (please comment below why and what you think it should be)

0 voters

Final Snapshot Creation minimum of 10,000 YAM is acceptable
  • Yes
  • No (Please comment below why and what you think it should be)

0 voters

1 Like

I like this proposal and the thresholds.

Just one question: A signalling snapshot vote would still be preceded by a forum post? There might be no obligation to produce one but it would help the understanding of the snapshot.

Hey Theo, good question! A forum post is still required per current rules (see: New Formalized Proposal Flow). This proposal is just a piece of the puzzle and I will be proposing additional changes to the governance flow in the next few days/weeks/months based on ongoing discussions. The snapshot changes feel like the low hanging fruit so they are first.