Navigating the DAO
Basic Navigation
When you first access the Galaxy DAO, you will see the following screen:
Connects your wallet to the DAO staking page. Once you connect your wallet, you will be able to see the number of tokens in your staking vault as well as to deposit or withdraw those tokens. You will also gain the ability to create a proposal if your staking vault balance is 100 $GLXY or more.
The proposal tab is where you can review and vote on ongoing proposals, look at previously passed or failed proposals, or create new proposals.
The treasury tab is where you can look at the balance of funds in the DAO's treasury.
Deposit and withdraw your $GLXY tokens from your staking vault. Also, you can see your staking vault balance here once your wallet is connected.
Flip between viewing proposals that are being voted on currently, those that have been passed, or those that have failed.
Filter proposals by category or by public/council voting status. You can also search by key words.
Create a proposal. See Create a Proposal (below) for more details.
Proposals. Top-to-bottom & left-to-right: the proposal title, public/council voting status, time left in the voting period, proposal category, wallet address of the proposer, and the percentage of votes that have voted "yes" and of those that have voted "no". Click on a proposal to find out more details regarding the proposal and to vote on it.
Vote on a Proposal
Once you click on a proposal, it will open a page like follows:
Wallet address of the proposer and time that the proposal was submitted.
Time remaining for voting and the voting stage (public/council).
Proposal title.
Proposal category.
Proposal description.
Vote yes or no on a proposal. Note that once you have made your decision, you may add more tokens to your vote but you may not change votes.
Live voting results showing how many "yes" votes there are and how many "no" votes there are.
The approval quorum for an immediate of a proposal without waiting for the time remaining for voting.
Note: this feature is currently showing the incorrect quantity. The true circulating supply needs to be recalculated and added into the algorithm. This feature will be fixed in a future update.
Proposal information regarding the proposer and the start/end times for the proposal.
What follows are the instructions that actually show what transactions will take place if the proposal is passed in the public voting stage:
Create a Proposal
1. Open an infographic to describe how the proposal creation process works (see below). Once a proposal has been created, the user must pay 100 $GLXY to send it to council voting. The council has 48 hours to make a decision to either endorse or reject the proposal. 60% of the council votes need to be "yes" in order to send a proposal to public voting (see Council Voting for more details). At the end of the public voting duration (set by the proposer during the creation step), the proposal will be automatically executed on-chain if 60% of the votes that have been cast for the proposal are "yes". If the proposal passes and a transaction amount was indicated in the proposal, the proposer received 1% of the transaction amount as commission.
2. Proposal Title. The title of the proposal should be clear and succinct in order to make it easy for users to understand what the proposal is aiming to do.
3. Description. The proposer will have the opportunity to pitch their proposal here. The questions that a good proposal should answer include:
What is the proposed venture or activity?
What is the purpose of the proposal?
Why is that purpose important?
Who are you (or the person/entity that you propose to do something) and how might that help make the case for your proposal feasibility?
How will you carry out the proposal?
What sort of challenges do you anticipate facing and what are your proposed solutions?
How much funding do you require to carry out the proposal?
How will those funds be used to carry out the proposal?
Will you be providing a financial report for the venture that you proposed?
How will your proposal financially compensate the DAO (if that is your intention) and how likely is it that the DAO will receive a return from embarking on this venture?
4. Category. Choose whether the proposal fits best into marketing, governance, alpha, development, community, or design.
5. Choose how long public voting should last. Current options range from 5 days to 10 days of voting time.
Then, you have to set up the instructions regarding the actual transactions that will be executed automatically if the proposal passes public voting.
Note: it will not allow you to submit the proposal if the amount requested is higher than the treasury balance for the type of token requested.
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