Discussions to: IIP-51
Created: 27th September 2021
Re-authorize the Meta Governance Committee and transition into a long term structure with regular elections to easily allow for the cycling of members.
Members serve 1,000,000 block (~5 month) terms, with a 3-consecutive term limit elected via ranked-choice voting using Snapshot (voting with $INDEX tokens).
Recall election can be triggered by signaling with 5% of the circulating INDEX supply, standard IIP quorum will apply on the recall.
We propose to change the MGC terms from three to 1,000,000 block five months, and that anyone can nominate new MGC members. Seats open up in a staggered approach, i.e. on a monthly basis. A single term is set to last 1,000,000 blocks (with max 3 consecutive terms), meaning that each seat goes up for election roughly every five months.
Elections take place via multichoice voting on Snapshot before the previous term ends. This limits the time a member can consecutively be on the MGC to a max of roughly 15 months.
Members of the Meta-Governance Committee (MGC) were elected for 3 months, as agreed in IIP-51. The first term ends on October 8th, 2021. This proposal is a means to specify the structure for MGC elections going forward, which are going to take place on a recurring basis.
We propose to establish a standard process to elect new committee members, which can easily be repeated for future elections. Further, this proposal also covers the transition phase by proposing term length and Penn Blockchain Club as a new member.
This IIP will solve two things. First, proposing a new structure for how members of the MGC will be elected going forward. And secondly, proposing the transition process, which inherently is an election of the members for the MGC for the next immediate term, starting on October 8th.
- 1 week prior to the next election, a forum post will go up calling for candidates. Any candidate can nominate themselves (internal or external)
- All candidates are encouraged to attend a community call to introduce themselves and explain why they should represent the coop
- For this first iteration, the nominations are done by the current MGC (see below). However, starting one month after implementation of this IIP, nominations are open to anyone
- A candidate can only serve max 3 consecutive terms, after which they have to take a break of at least three cycles (600,000 blocks or roughly 3 months)
- All nominated candidates will appear on a Snapshot vote, using ranked-choice voting (example here). The winning candidate will serve a full 1,000,000 block term, unless removed via recall or resigned. The snapshot vote will start on the Monday before the term is set to expire and run for 72 hours.
- If a committee member does not fully complete their term (either by recall or resignation), their seat will go up for a special election alongside the next regular election. The winner will serve the remainder of the allocated term, and it will count towards the 3-consecutive term limit.
We recommend not to replace the whole MGC at once, and that previous members do the on-boarding of new members.
Therefore, we propose to use a staggered approach, that is electing a full MGC via this IIP, and explicitly setting the length of their terms to create a 1,000,000 block turnover cycle.
The interim proposed members and their term lengths are as follows:
- @Lavi, Term expires on Block 14330000
- @ncitron , Term expires on Block 14130000
- @Kiba, Term expires on Block 13930000
- Penn Blockchain (@yuan-han-li), Term expires on Block 13730000 (replacing Cedric)
- @oneski22, Term expires on Block 13530000
As defined in IIP-51, MGC members will be rewarded with a monthly stipend of $1,500 to compensate for time and attention to Meta Governance votes. Consequently, we request to continue the funding of $7,500 per month for all five members, until revoked or changed via IIP otherwise.
For reference: 32 Meta-Gov votes went live since the inception of IIP-51 on July 8th.
Looking at Noah for instance, his term will end in ~800,000 blocks (4 months) after implementation of this proposal. He can be nominated or nominate himself, to serve another term. If he wins the multi-choice Snapshot vote, he will serve another 1,000,000 term. However, since this will be his third term in a row, he has to take a break of at least three votes, before being eligible for nominations again.
Move to staggered approach and monthly MGC election (one seat only, unless exception), as proposed above and add Penn Blockchain club to MGC as new member for (at least) 2 months.
Do not move to a staggered approach and use 3-month terms with internal elections, i.e. effectively no change to current status