LIP-I Governance & Farming Model

We are excited to announce the launch of our initial governance structure along with our first Lixir Improvement Proposal, LIP-1!

As with any protocol that installs a DAO, we cannot be completely decentralized from the get-go, and so the initial governance structure will not aim to be. Instead, it will aim to start structured discussion that can lead to new LIP’s.

That being said, we are implementing an initial governance structure that starts off with optional Discord/Telegram discussion and is then followed by a mandatory three day Discord discussion (soon to be migrated to our own forum) in a seperate channel during which the creator is stimulated to polish the proposal to maximize both its positive impact as well as the community’s approval.

In order for an informal idea/proposal to receive its own Discord channel and to be acknowledged as a valid LIP, it will have to be

1. submitted in the LIP template, an adapted version of the EIP template, and

2. backed by 5k LIX worth of delegated voting power, OR be approved by a core team member himself (consider this a troll/malicious intent filter as well).

There will be a public Discord channel for LIP applications, and hence any initial rejection by a governance manager will come with an explanation as to why it was rejected and may be be altered and resubmitted.

After being accepted and having passing the mandatory three day discussion in its seperate Discord channel, the LIP’s creator will have one week to collect either

1. 50k LIX worth of delegated voting power, or

2. support by the core team itself

in order to submit the proposal to Snapshot. Failure to meet either of the mentioned criteria will result in the LIP being rejected and the Discord room being closed down. In case either one of the criteria is met during the week following the three day discussion, the proposal will be submitted on Snapshot and a one week voting window will commence.

At the end of the one week voting window, the proposal is accepted if more than 50% of the casted voting power voted in favor of the LIP, and rejected otherwise.

An important step for us and all Lixers 🦾🛠