How To Submit A Proposal

Step-by-step guide on the process and requirements for proposing changes and initiatives

Please refer to the following best practice for developing and submitting governance proposals. This procedure is intended to enable discussion and gauging support for the proposal prior to submitting on-chain.

Please note the following before proceeding:

  • If the proposal is a parameter change with implications on development or smart contract utilization, consider speaking to a core Carbon dev first.

  • If the proposal will result in significant engineering effort to execute, seek advice from a member of the Carbon devs on the potential consequences of the proposal should it be passed.

Pre-submission

Begin the conversation by raising your idea or proposal in the Telegram chat or the #πŸ™‹πŸ»proposal-suggestions Discord channel. This will give you the opportunity to discuss with other protocol users and further develop your ideas. Other participants may have some interest in the proposal and offer improvements to your proposal, or you may find that this idea has no support or already been satisfied in some other way.

Verify through the block explorer that your suggestions have not already been addressed by a previous or current proposal.

Feedback

Once you have a clearly defined proposal idea, draft your proposal and submit it on the Carbon Commonwealth Forum here.

You should structure your proposal in the recommended way to maximize your chance of success.

To maximize visibility for your discussion, promote the link on Telegram and Discord. You may also want to reach out to the core team to have the discussion advertised on the official @0xcarbon Twitter account.

Engaging with the community is beneficial to creating a proposal as you:

  • Receive unofficial votes (community signals)

  • Gain better idea of how receptive the community is to your ideas and

  • Make relevant tweaks and changes based on feedback received

Submission

Once you are confident about your proposal, you can submit the proposal on-chain for voting.

Create your proposal based on the most appropriate proposal type and submit it via Carbonscan.

Please note that the fee to fully fund a governance deposit is 10,000 SWTH. These funds will be returned to the depositor following completion of the voting period. If there are sufficient NO WITH VETO votes, the depositors will lose their funds. The depositor will also lose their funds if quorum of 33.4% is not reached.

On-Chain Voting

Submitted proposals go through 2 stages - the Deposit Phase, followed by the Voting Phase.

Disclaimer: It is important to understand community sentiment before submitting a proposal as a minimum deposit is required to send proposals into the Voting Phase and bears the risk of loss. This will be explained further in the Deposit Phase section below.

Deposit Phase

When a proposal is first submitted on Carbon, it enters the Deposit Phase. At this stage, the proposal must reach the minimum deposit requirement of 10,000 SWTH within 2 days. Once the minimum deposit requirement is met, the proposal automatically enters into the Voting Phase.

Proposal deposits are open to anyone and not just to the creator of the proposal.

After the deposit period is over, proposals in the Deposit Phase will have 2 outcomes depending on the deposit amount acquired:

  • 10,000 SWTH - Proposal is automatically sent into the Voting Phase

  • Less than 10,000 SWTH - Proposal is withdrawn and deposit is burnt

Should a proposals fail to meet the deposit requirements after 2 days (expired proposals), all SWTH deposited will be burnt.

Voting Phase

The Voting Phase is a 1-day period where stakeholders can cast their votes for proposals. The results are recorded on the blockchain.

Share With The Community

Once your proposal has entered the Voting Phase, share it with the community by posting it on Commonwealth and Discord (#πŸ™‹πŸ»proposal-suggestions) to allow the community to engage in discussion, and encourage them to vote.

Result

At the end of the voting period, results will be released and recorded on-chain.

What Happens When Proposals Do Not Get Passed?

If proposals fail to meet the minimum voting criteria, the proposal will be withdrawn and the SWTH deposit will be burnt.

Deposits are burnt in the following circumstances;

  1. Expired proposal. The proposal does not meet the minimum deposit required within the stipulated time of 2 days in the Deposit Phase.

  2. Does not reach quorum during voting. Less than 33.4% of the staking power voted on a proposal.

  3. Proposal vetoed during voting. At least 33.4% voted No-With-Veto

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