Hey honey holders , we got some news!
We have submitted a vote to install a new conviction-voting
app.
This new app includes new functionality such as:
-
Abstain proposal. This is signaling proposal to signal that you don’t support any proposals right now.
-
Enable cancelling of proposals (This can be done by the creator of the propsoal or whoever has the
CANCEL_PROPOSAL
role). -
Updated threshold formula such that:
- Uses
totalStaked
as opposed tototalSupply
if it’s above a minimum percentage oftotalSupply
. - Uses The aforementioned percentage of
totalSupply
iftotalStaked
is below.
- Uses
-
Enabled updating conviction settings which includes
decay
maxRatio
weight
minThresholdStakePercentage
Something to consider is that this will be a fresh install as opossed to an app upgrade, so the current installed conviction voting will be removed from the DAO.
Below is a screenshot of what the vote will execute if approved.
What does this all mean? We’ll go step by step explaining what every of this actions do.
- Install the new conviction voting app
Kernel: Create a new upgradeable instance of 0xabb88ccde8e73f80a3f4a14ef4f6bbfcc19f172a073a5d4cace3af06a8f2a182 app linked to the Kernel, setting its code to
0x6A99…5abd
- Create the permission to update conviction settings and grant it to
0x60a9…A0Bf
(this is me) where the manager is the voting app.
ACL: Create a new permission granting
0x60a9…A0Bf
the ability to perform actions of role 0x9d4f140430c9045e12b5a104aa9e641c09b980a26ab8e12a32a2f3d155229ae3 on
0xbe75…71bA
(setting “Voting” as the permission manager)
- Create the permission to create proposals and grant it to anyone where the manager is the voting app.
ACL: Create a new permission granting “Any account” the ability to perform actions of role “Create a proposal” on
0xbe75…71bA
(setting “Voting” as the permission manager)
- Create the permission to cancel proposals and grant it to
0x60a9…A0Bf
(this is me) where the manager is the voting app.
ACL: Create a new permission granting
0x60a9…A0Bf
the ability to perform actions of role 0x3e317d8f3de745777f176274dda437b0b9bbbe0704f48e9be1821136c177b933 on
0xbe75…71bA
(setting “Voting” as the permission manager)
- Grant the permission to transfer funds from the vault to the new conviction voting app.
ACL: Grants
0xbe75…71bA
the ability to perform actions of role 0x8502233096d909befbda0999bb8ea2f3a6be3c138b9fbf003752a4c8bce86f6c on “Vault”
- Grant
0x5141…81d8
(WillGriff) the permission to cancel proposals.
ACL: Grants
0x5141…81d8
the ability to perform actions of role 0x3e317d8f3de745777f176274dda437b0b9bbbe0704f48e9be1821136c177b933 on
0xbe75…71bA
- Grant
0x5141…81d8
(WillGriff) the permission update conviction settings.
ACL: Grants
0x5141…81d8
the ability to perform actions of role 0x9d4f140430c9045e12b5a104aa9e641c09b980a26ab8e12a32a2f3d155229ae3 on
0xbe75…71bA
We granted the permission to cancel proposals and update conviction settings to two of the trusted core member teams which will take the responsibility to take action when required. The reason for this was mainly because otherwise the actions would always go through a vote which would take 2 weeks to materialize if approved.
If you have any more questions feel free to ask!