We proudly introduce the Opium governance system, which controls the protocol’s parameters and code. Governance participants will have the right and responsibility to suggest, debate, and implement changes to the decentralised protocol.
There are two different type of voting systems in Opium Governance: OIPs (Opium Improvement Proposals) and Signals (Signalling voting).
OIPs are the proposals that require on-chain voting via DAO to perform on-chain actions on the DAO, such as changes of the parameters of the DAO and the protocol or its’ codebase. Voting for OIPs is only possible via on-chain transactions using voting power gained by holding $wOPIUM token at the moment of the proposal creation.
Signals are proposals that don’t require on-chain settlement and serve as a signal to the community about the willingness to perform a certain action, such as implementing specific features or distribution of Active User Ecosystem fund. Voting for Signals at the moment requires to hold $OPIUM, $wOPIUM, 1inch OPIUM-ETH LP or Farming 1inch OPIUM-ETH LP in order to have voting power. Other possibilities will be added later.
Proposal lifecycle:
- Creation of the proposal topic on this forum in
Governancecategory - Discussion of the proposal topic on this forum with the community and poll in the topic
- When rough consensus is reached and the proposal is approved by the forum community, allowed entities (currently Opium.Team members) will create the signal proposal on https://signal.opium.network
- When the signal is approved by off-chain voting it should be executed by entities specified in the proposal
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- If proposal didn’t require any on-chain voting and actions from DAO it should be executed right away by the proposed entity
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- If proposal require on-chain voting and actions from DAO it should be first formed as OIP by creation of Pull Request on OpiumProtocol/oip · GitHub repository
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- When the proposal is merged it should be executed by performing on-chain voting in the DAO connected to the protocol
Forum proposal topic
Every proposal starts on this forum as a separate topic in Governance category and should include information enough to form and execute final OIP
- Title starting with
Proposal: - Short summary
- Rationale (reason of the proposal)
- Executors (entities responsible for the execution)
- Public forum poll with open results
Refer to the first proposal for the inspiration.