Governance provides a mechanism for proposing and electing changes, determining how Polycat's platform will function on an ongoing basis.
Governance is available to those who hold/stake the $FISH token. 🗳✊🐱
Here is a list of places our snapshots will check for $FISH (DYOR these aren't recommendations, just where we are looking for $FISH):
External farms that are not on https://polycat.finance
Voting on a proposal is simples! 😺
- Click on an active proposal, the proposal's details and options will display.
- You will be presented with the voting options, current results to date, and more details.
- Cast your vote: click your desired option, and press Vote.
- A confirmation will appear, showing the amount of $FISH you have to vote with, and a button to cast your vote.
Anyone can create a proposal for the community to vote upon, provided they meet the minimum requirement: 10,000 $FISH are required to create a new proposal.
Why 10K $FISH?
- It helps ensure that proposals are only made by those significantly vested in $FISH.
- Flooding the voting mechanism is burdensome on the community: too many low-quality proposals will detract from the high-quality ones, making important choices less likely to be voted upon.
- Our ethos is that anyone can propose and vote, however they should be invested in the success of the platform significantly, and for the long term. We want to discourage short-term acts like pumping one's own bags to quickly dump.
I don't have 10K $FISH, but I have a good idea--what can I do?
- Borrow $FISH from others, using a multisig wallet to propose.
- Spread the word:
- Refine, tweak, agree with others to gain more support before trying to propose.
- Create a post on Reddit for organised discussion about the topic
- Discuss in our Telegram.
Strong ideas will be supported by the community, and someone with 10K $FISH may propose your idea--if beneficial to the community and themselves.
On the right sidebar, you can:
- The type of voting (single choice/multiple/etc).
- Select start/end dates.
- See the block number that will be snapshotted, defining the $FISH tokens applicable to vote on this proposal.
When creating a proposal, you should input the following information:
- Question: the title, posted in question format.
- Example: "How should the Dividend Vault be split?"
- What is your proposal?: information about the vote, include as much detail as possible.
- What the proposal is about.
- Benefits it brings to the investors, platform and ecosystem.
- Who will it affect.
- What the different choices mean.
- Choices: the voting options.
- We suggest making proposals with multiple granular choices, not just a Yes/No.
- This format helps a voter consider potentially impactful and beneficial ideas, which they were previously unaware of.
So please, pay attention! 🗳☝🐱
It is imperative at this stage that you communicate with Polycat, so we can ensure your proposal has the fairest outcome possible. Reason: unlike some other platforms, we want to account for not just FISH in your wallets, but FISH you’re staking on all the various sites!
In order to do this, we must update the Snapshot Strategy before your proposal is submitted, to qualify all the latest farms where users are staking FISH. This must be done in advance of your proposal, otherwise a portion of FISH holders will be unable to vote, and the outcome may not be fair.
To submit a proposal:
- You need to have 10,000 FISH to submit a proposal. This includes both FISH in wallet and FISH staked.
- Ownership will be verified and a channel will be created for your proposal, for you to discuss issues directly with the Polycat team.
- Discussion at this stage is critical to verify that the proposal is correctly scoped, technically feasible, snapshot details, et cetera.
- Work together with the Polycat team to draft the proposal content: including your proposal, and any relevant team comments.
Of course, you can always submit a proposal without doing any of this, but keep in mind that it will be much less likely that the proposal will be approved.
- Proposals will run for 10 days.
- We will publish upcoming and open proposals regularly to spread the word. We want FISH furends to be aware of, and to vote on, all the issues that impact them!
- As we have updated the Snapshot Strategy to account for LPs, FISH hodlers will not need to unstake in order to vote.
- Implementation will occur as soon as feasible. Each proposal is unique, with differing timelines to design, implement, test and roll-out.
- Subsequent proposals impacting this proposal will not be allowed for 30 days.
We want the governance process to be as fluid and painless as possible: for the proponent, for the voters, and for ourselves. Hopefully with this set of guidance we can make proposals happen in a fair, collaborative, structured-but-flexible manner.