Any proposal not following the Overlay Governance Framework (OGF) will either be immediately deleted or will not have an impact on the protocol.
As of today, 1 PCD NFT = 100,000 Voting Power , whereas 1 OV = 1 Voting Power . This is subject to change with a further governance proposal.
Any proposal should be shared on Commonwealth and discussed on discord .
The DAO should eventually transition to on-chain voting.
The Overlay Governance Framework (OGF) provide necessary guidelines and templates that the community must follow to participate in Overlay governance.
Overlay Governance Framework
To share a proposal, a community member must use the proposal template provided below.
Before moving the proposal to Snapshot, a temperature check must be conducted.
A community member must share the commonwealth link of the proposal on the #governance channel on the Overlay discord .
A proposal must be open for discussion on the Overlay Discord for at least 48 hours before it can be moved to Snapshot for voting.
Proposals that involve significant changes to the Overlay protocol or its parameters must be accompanied by a detailed technical specification and analysis of potential risks.
Proposals that involve the expenditure of DAO funds must provide a detailed breakdown of how the funds will be used, as well as a justification for the expenditure.
Any proposal that receives a significant number of “no” votes may not be resubmitted for a minimum of 60 days, to allow time for the community to address any concerns.
Overlay Foundation may introduce emergency proposals in exceptional circumstances (e.g., to address security vulnerabilities or other critical issues) without following the usual proposal process, but must provide a full explanation and justification for the emergency action.
Proposal Template
Title: (OGP X) - title name Author: (Twitter username or ENS or Discord handle) Sentence Summary: Explain the proposal in 1-2 sentences. Security Risks: If the proposal has security risks or not, max 2 sentences.
Intro:
Provide a brief introduction to the proposal, explaining its purpose and context within the organization. This can include background information, current challenges, and opportunities that the proposal addresses.
Body:
Explain the details of the proposal, outlining its objectives, strategies, and expected outcomes. Describe the proposed actions, processes, or changes that the organization will undertake, and how they align with the goals and values of the DAO. Provide any relevant data, research, or analysis that supports the proposal and helps stakeholders understand its potential impact.
Proposed Cost:
Specify the proposed cost of implementing the proposal, in terms of stable coins or the DAO’s native token OV. Include a breakdown of the costs and how they will be allocated, and explain how the proposed expenses align with the organization’s budget and financial goals.
Security Risks:
Specify the security risks of implementing the proposal.
Other Considerations:
Include any other relevant information or considerations, such as timelines, dependencies, risks, or potential collaborations. This section can also include information on who will be responsible for overseeing the proposal’s implementation and monitoring its progress, as well as any reporting or accountability mechanisms that will be put in place.
Conclusion:
Summarize the proposal’s key points and highlight its benefits to the DAO and its stakeholders. Address any potential concerns or risks associated with the proposal and provide mitigation strategies if applicable. Encourage feedback, discussion, and questions from the community, and outline next steps for implementation if the proposal is approved.