DIP-1: Governance Proposals in Realms, Enable $DRIFT Staking Service

DIP - Discussion Forum
1

Author: @0xsmolrun
Date: 4/6/2024
Discord Proposal Link: Discord

Proposal Summary:

  1. All governance proposal will be proposed in Realms and shared in the ⁠🟣┃governance-discussion
  2. ⁠🟣┃governance-discussion should be locked for sharing proposal made in Realms.
  3. ⁠🟣┃governance-general will be an open chat for community to discuss about the governance proposals made by the authors.
  4. Add staking service for $DRIFT token as the first utility of $DRIFT . Staking will be done on Realms and Drift Protocol .

Overview:
It’s normal to have staking function for every governance token nowadays to ensure the loyalty of token holders and granting them the voting power for every proposals that came out from scratch. Governance voting has to be done systematically.

Technical Specification:

  1. Voting Parameter: $DRIFT DAO voters must have at least 1,000 staked $DRIFT tokens to participate in the DAO voting.
  2. Proposal Writer Parameter: Proposal Author must have at least 100,000 staked or delegated $DRIFT tokens to write a proposal in Realms.
  3. Staking APR set at 0% so there will be no inflationary reward and enhancing the growth of $DRIFT token value.
  4. Governance Voting Power Snapshot: Staked $DRIFT must be 2 epoch before any new proposals to get the voting rights (also must fulfill the criteria in “Voting Parameter” ). Each epoch should last for 1 week, on every Monday (00:00:01 UTC).

Note: More token utility topics should be discussed in the next DIPs’ for more improvement (burning mechanisms, gas fee token, trading fee rebates, revenue sharing, etc. )

3 Likes
2

Thank you for your proposal. However, there are an issue I disagree with:
If we remember that the minimum airdrop that the Drift team deems appropriate for participants is 200, I think the amount of stake required for governance should also be 200.