Voting will be open here 2021-10-07T04:00:00Z
The current Proposal Threshold is set to ~10M BIT tokens. See BitDAO docs.
Note that the Proposal Threshold is the minimum number of BIT an account needs to submit a proposal, and Voting Threshold is minimum number of BIT that needs to vote on that proposal to be valid (currently 100M BIT).
Other DAOs have lower Proposal Thresholds, for example:
AAVE - 1 AAVE ($300)
Sushi - 20000 SUSHIPOWAH (~$200,000)
UNI - 1000 UNI (~$20,000)
Nouns - 1% of Nouns supply (~$200,000)
Enable more ideas to be proposed.
Increased need for moderation. For example: 1) Proposals that do not meet the minimum vote duration of 7 days; or 2) Proposals that are not executable such as “lets partner with DAO XYZ”.
In our opinion, token swaps and partnerships require negotiation and analysis of key terms (such as exchange rates, vesting periods, use-cases for BIT token) and reasons why this cooperation makes sense for both parties. They are also often contingent on discussions and polling in the partner communities. These discussions need to happen before a token swap proposal goes to vote.
While proposal templates, guidelines, and moderation policies have not yet been defined, we recommend keeping the proposal threshold on the higher end: approximately 200,000 Delegated BIT. Let’s discuss in the comments.
Within 7 days we will submit a formal Snapshot proposal with the most commonly supported options.
*This post is authored by Cateatpeanut of the Windranger Labs team. All opinions are my own.
Thanks to previous author (Byron) of a similar proposal here.*