How to Submit a Proposal?

How to Submit a Proposal

Steps

  1. Start a new topic in Proposal in Forum. It can be a solid plan or just an idea.
  2. Discuss with the community in Forum for at least 24 hours before voting
  3. Write a proposal to conclude the whole idea
  • Proposal MUST have a proper title to reveal the core idea
  • Proposal MUST begin with Summary section (in short, please)
  • Proposal MUST have Action Item section for explaining each voting option explicitly
  • Proposal SHOULD use “For” / “Against” as options in binary decision
  • Proposal SHOULD provide “No Change Required” as option in multiple choice
  • Proposal CAN have Background, Motivation, Specification or any other aspect to support the idea, or use EIP template
  1. Submit the proposal along with topic link in Snapshot by holding 1,500 CREAM at least, which is also the minimum requirement for a proposal to list in Snapshot, and the voting period must be longer than 72 hours
  2. Comment in the topic with the voting link

Voting Power

Your voting power = average of (A + B + C + D + E + F + G - H) in the last four weeks

  • A: CREAM in the wallet
  • B: CREAM supplied in Cream Lending, based on your crCREAM in the wallet
  • C: CREAM from your CREAM-ETH SushiSwap Liquidity Provider (SLP) token in the wallet
  • D: CREAM from your CREAM-ETH SLP in MasterChef
  • E: CREAM from your CREAM-ETH LP in Uniswap
  • F: CREAM from your CREAM-ETH BPT in Balancer
  • G: CREAM staked in Cream longterm pool
  • H: CREAM borrowed in Cream Lending

Four-week average is calculated by the balance at these 3 particular timings (equally weighted):

  • At the block number designated by the Snapshot voting
  • 14 days prior to the block number
  • 28 days prior to the block number

Note: Minimum voting power is 1 CREAM

Warning

  1. If a proposal does not follow these steps, it is invalid
  2. If a proposal does not get more than 15,000 CREAM votes in total, it is invalid
  3. If a proposal is to increase / decrease collateral factor, follow the guide here
  4. All rules can be modified by a valid proposal, but “fully discussed with the community” should be the principle
  5. All rules apply to the community and the team

Update Log

  • Oct 27, 2020. Initial version by proposal on Oct 27, 2020
  • Dec 01, 2020. Extend minimum voting period from 24 hours to 72 hours based on the voting result, and add collateral factor guide
  • Jan 18, 2021. New section: voting power calculation
  • Jan 21, 2021. Voting power calculation includes CREAM staked in Cream longterm pool
  • Mar 25, 2021. Change four-week average calculation, and include LP tokens in Uniswap and Balancer
3 Likes

Based on the rules and opinions from @dudesahn and @Halfgood, I wrote a proposal to define the Proposal Rules more explicitly. Explicit rules as minimum requirements make the governance more transparent and more stable, and these rules apply to both the community and the team.

As an initial version, the Proposal Rules are mostly predefined without the community, but still they can be discussed and modified by another valid proposal. Feedbacks are always welcome.

While I’m definitely glad that we have some basic rules outlined, I would argue that 24 hours is too quick for a vote, especially in a community that has as few voters as we do currently—although I imagine that will change once the PR is merged to allow CREAM long-term stakers to vote.

@dudesahn I totally agree with you.

We should also consider that there are lots of proposals to digest now, so maybe 48 hours is a better option?

Can you please define whats the:
G: CREAM staked in Cream longterm pool

In the Medium announcement post, you refer that:

4) Locked tokens will not be eligible to participate in governance and voting during the lockup period.

so I wanted to clarify this point before committing long-term…

https://medium.com/cream-finance/long-term-cream-staking-56f76f9fe004

Please clarify

At the time of writing this Medium post, CREAM locked in the long-term pool was not able to vote.

However, Snapshot strategy became feasible for us to include those CREAM as voting power. Thus, we set the new rules for governance, which is the version you see in this thread. The strategy is to include as more CREAM as possible.

I also have an Update Log section in the voting rules. As you can see, CREAM in long-term pool is included on Jan 21, 2021. It’s four month after the Medium post.