Since this post was already long enough, I’ll post a summary of the current meta-governance process below. This is just for people interested in how it operationally works.
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Informing about votes
- Set Labs’ bot does frequent pull requests from Snapshot to check for new votes
- If a new vote is live, a notification is published on Discord
- Greg, Cedrick and others inform INDEX holders via Discord and Twitter that a new meta-gov vote is live
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Vote on Snapshot
- The vote is opened on Snapshot for off-chain vote collection (avoiding gas fees)
- Votes are also live on Boardroom
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Cast vote
- INDEX holders express their votes
- Voting on Snapshot ends 24 hours prior to the actual vote to allow the Set team to execute the vote according to the outcome on Snapshot
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Vote execution
- Greg calculates quorum (5% of circulating INDEX supply according to Coingecko)
- After vote closes, Greg informs the Set team about the outcome
- The Set team executes the vote on-chain via a multisig for COMP, AAVE and UNI, and via an EOA for YFI and BAL (it is not technically possible to use a multisig to execute YFI and BAL votes)
- Transferring the multisig which executes these votes from the Set team to a few members of the community is discussed in this post as an interim measure to streamline operations