Abstract
This document proposes the voting protocol for the DAO outlined in ZIP-1.
Motivation
The main motivation behind this proposal is to create the voting infrastructure for $00 holders to participate in the decision-making of the zerozero DAO, the governing body of the zerozero Foundation. The core criteria for the proposed voting system are:
- not requiring gas payment
- ensuring transparency
- expanding governance participation to all holders of $00
One of the goals of launching a token was to facilitate decentralized community governance in the form of the zerozero DAO. Without a voting system in place, arriving at consensus on proposals would be centralized, with only a few people holding decision-making abilities. This proposal aims to avoid this result.
Rationale
As the ecosystem evolves and expands, a well-defined system is required to gather new community ideas and provide a clear path for these ideas to be approved for implementation. A proposal process is foundational to this system becoming a reality.
A proposal process, however, needs an accompanying consensus mechanism. It must be fair, transparent, and low-cost to place votes. Balancing each of these requirements is challenging. On-chain solutions make it costly to vote. Off-chain solutions, like the one proposed, are less expensive, but require actions to take place off chain.
This proposal outlines a voting protocol that seeks to balance the pros and cons of various voting approaches, and to hold up the core zerozero Foundation guiding values of communities and transparency. This voting protocol can be found below in the following SPECIFICATIONS section.
Specifications
Assuming the approval of ZIP-1, implement Snapshot as the voting mechanism / protocol where:
- Only $00 token holders may vote
- Token holders will have the ability to delegate votes
- New proposals that meet the required guidelines will be launched in batches every Monday at 10am ET
- The voting opens immediately upon launch
- The voting options for a Live ZIP are “In favor” and “Against.” Voting “In favor” means the voter is in favor of implementing the ZIP exactly as-is. Voting “Against” means the vote is against implementing the ZIP exactly as-is — one may vote “Against” to encourage the author to resubmit the ZIP after making changes.
- The voting for each proposal in each weekly batch will be open for voting for six days, closing at 10am ET on Sunday
- Proposals that are approved by the holders of the requisite number of $00 are moved to the zerozero Foundation for implementation
- Only moderators can post ZIPs to Snapshot because they must ensure that each one has gone through the correct approvals process
Steps to Implement
- Purchase ENS domain
- Create specific space on Snapshot
- Implement ecosystem-specific voting strategy
- Set administrator addresses
- Set voting rules
- Set restrictions in Snapshot so that only moderators can launch proposals
- Open ratification of ZIP-1 and ZIP-2
Timeline
Solution prepared and ready to be ratified
Overall Cost
No cost to implement
