Summary
The objective of this proposal is to extend the scope of VIP-2 by introducing an expedited governance mechanism.
Rationale
Our previous governance and decision-making experiences have shown that our conventional 14-day governance process (assuming no changes on Discourse) can be too slow for some high-stakes scenarios. Therefore, there is a pressing need for expedited governance timelines.
Overview
Proposal Title: Proposals seeking expedited governance should include FAST TRACK in their proposal name.
Initiation and Classification: Expedited governance proposals can only be initiated and categorized by the core team and whitelisted addresses/entities, initially limited to core only. The core members will have the authority to add or remove whitelisted entities through a majority vote.
Spending Limit: There will be a predefined spending cap for ValleyDAO to address situations necessitating expedited governance, set at $30,000 USD.
Expedited pathways
Three distinct expedited governance pathways are being proposed:
I) A 5-day discussion on Discourse, followed by 3 days on Snapshot. An additional 2 days on Discourse will be added if any proposal modifications are made.
II) A 24-hour discussion within relevant Discord channels, followed by a 48-hour Snapshot vote.
III) Immediate procedures involving immediate execution with no discussion and decision making external to the core and the whitelisted members. This is a last resort measure and will be used sparingly.
Pathway classification
The core team will employ threat/urgency levels in conjunction with the context to determine the appropriate expedited pathway to follow. Below, you’ll find examples of fast-track scenarios, categorized by their urgency and threat levels on a scale of 1-5:
- Expedited OTC investment deal
Urgency: 3
Threat: 2
Expedited path: I
- Excluding a wallet from the governance process due to a conflict of interest
Urgency: 3
Threat: 3
Expedited path: II
- Responding to a hack, sybil or an AI attack
Urgency: 5
Threat: 5
Expedited path: III
- Technical error that requires resources for quick correcting or dealing with leaked/stolen IP
Urgency: 4
Threat: 4
Expedited path: III
If these example scenarios were to occur, they might be classified differently depending on the context.
- Agree
- Needs revision (comment is mandatory)
- Disagree (comment is encouraged)