Make your Proposal
When you want to do good for the Defily community...
When the DAO was initially launched and went live, the dragon community went head-on with making proposals! We saw a huge huge number of proposals, many of which only had a few votes and a few thousand voting power. It was later proposed that Defily have standards in place new proposals to be considered by the Defily team as "qualified proposals":
- Proposals must have the voting power of at least 10% of Defily Circulating Supply.
- Snapshot block: Within 48 hours around the time proposal is created (from 24 hours before and 24 hours later).
- Proposals must have at least 72 hours voting period.
- Emergency threshold: 20% of Circulating Supply (if voting power reaches 20%, action can be executed immediately)
While all proposals will remain public on the DAO, only those proposals that meet the above criteria by the end of the voting period will be considered for implementation by the Defily team.
Snapshot means that the DAO will snapshot, screenshot, or take a picture of all wallet balances at a particular time to record the voting power. In this case, the time is the block number.
Roughly 1 block/5 second ~ 720 block/hour ~ 17,280 block/day.
Calculating snapshot: (future block you want to set - present block on explorer) * 5 (5 seconds per block) / 3600 (1 hour) = X (unit is hour, until the snapshot).