Title: [RELP 0 - Community Governance Process]
Authors: [Kurt]
Date Created: [2023-09-25]
Abstract
Relation Community is an organization steered and managed by its community, specifically by holders of the REL token. The governance process is designed to ensure decision-making is both fair and transparent, while empowering the community to handle and control funds held in the Community Reserve. This document presents a comprehensive outline of our governance procedure, ingrained in the core principles of the Relation Community.
Motivation
This document proposes the structure Relation Community that would be governed by the holders of REL token, a decentralized token that we community aspire to become the dominant token for the web3 social graph.
Steps to Implement
1. Governance Process Overview
The Relation Community Governance Process consists of several steps, beginning with the submission of a draft proposal, followed by community review, snapshot voting, and ultimately, execution of the approved proposal. This process aims to stimulate community involvement and prioritizes the interests of REL token holders.
2. Proposal Draft Submission
Any REL token holder interested in initiating a proposal must first publish a draft proposal on the Relation governance forum for a preliminary assessment. A template for Community proposals can be found here.
In this phase, an informal poll with options is encouraged to be set up by using the forum’s feature to collect community opinions on issues pertinent to the governance. It must be noted that this will not directly influence protocol amendments or prompt the governing process.
3. Community Review and Moderation
Upon submission of the draft proposal, it opens up for community review and assessment. During this time, REL token holders are encouraged to give feedback, ask questions, and express their perspectives on the proposal.
The draft proposal can be revised and updated based on community feedback to guarantee that it addresses any concerns and aligns with the interests of the Relation Community. The review period for a draft proposal is set at least 7 days.
4. Administrative Review and Weekly RELP Release
Once the community review period concludes, if the proposal is deemed ready for voting, the author should collaborate with a Relation community manager to schedule a snapshot vote.
The community manager provides assistance in setting up the snapshot vote and circulating the details to REL token holders. Every Monday at 12PM UTC, all RELPs that are ready to go live are released together in a batch.
5. Snapshot Voting and Weekly RELP Close
The snapshot vote is the final decision-making step for proposals. A Community proposal requires a minimum of 50% approval votes from wallet addresses holding a total of at least 1,000,000 REL tokens (quorum).
REL token holders can cast their votes according to their token holdings during the snapshot voting period. The weekly snapshot voting period will close on the following Monday at 12PM UTC.
6. Execution of Approved Proposals
If a proposal garners approval during the snapshot vote, it will be executed by the Relation operation team. A three-working-day time lock period is scheduled, typically extending from Monday to Wednesday, with execution commencing from Thursday.
If required, distribution of funds will be signed by the Community Reserve’s multi-signature signers — elected representatives of the REL token holders.
