Proposals and Endorsements

Proposals

Anyone holding at least 100 $GLXY may submit a proposal. To incentivize good proposals, the DAO will charge 100 $GLXY per proposal (subject to change by voting) and a 1% commission from the transaction will be paid to the user who submits a successful proposal (60% approval). The 100 $GLXY is transferred to the Galaxy Treasury.

Endorsements

For a governance system to be efficient, there must be mechanisms for managing collective attention that ensure that the most important proposals get attention, and that small groups that get involved in decision-making tend to act in the interests of the majority. The goal of our DAO is to allow small groups to accurately express the will of the public. This is achieved through the attention token - council token. Council token holders (founders and community leaders) choose to endorse proposals that they think have a high probability of passing, and proposals that do not receive enough tokens will be ignored and will not proceed to the next stage. A proposal must have sufficient endorsement (above 60%) to proceed to the voting stage.