Background:
Currently, the KtonDAO voting process on Tally has an excessively long decision cycle, leading to inefficiencies in proposal execution. The existing parameters require a 30-day voting period, and a 3-day delay before execution after the proposal passes. This prolonged process hinders agile decision-making within the DAO.
Additionally, with the regular distribution of RING from the Darwinia network, the incentive mechanism of KtonDAO requires more sustainable fund management. Presently, 20% of newly issued RING is regularly allocated to the KtonDAOVault contract, with 100% of it used for Kton Staking incentives. However, the KtonDAO Treasury lacks an independent reserve, limiting its ability to support potential strategic expenditures in the future.
Proposal Details:
- Adjusting Tally Voting Process Parameters:
Propose to increase the time from proposal publication to voting start from 0 to 1 day.
Propose to shorten the voting period from 30 days to 6 days.
Propose to maintain a 1-day delay from proposal passage to execution (currently 3 days).
The reason we can propose shortening the time cycle is that Tally has a 'proposal notify' feature, which allows security personnel to receive notifications and conduct checks more quickly. Otherwise, regular meetings would be required for inspections. It is recommended that everyone subscribes to https://notify.tally.xyz/ .
- Establishing a Reserve Mechanism for the KtonDAO Treasury:
Currently, 20% of newly issued RING is regularly allocated to the KtonDAOVault contract, with 100% directed to Kton Staking incentives. This proposal suggests adjusting the allocation ratio to 80% for Kton Staking incentives and redirecting the remaining 20% to the KtonDAO Treasury Timelock contract as a reserve.
The specific use of these reserve funds is a topic of debate within the forum. It is recommended that, after the approval of this proposal, further proposals should be introduced to determine the usage through a DAO-wide vote.
Reference
a. https://github.com/darwinia-network/KtonDAO/blob/d05e05d56682651110a40384fa6d8fadc2516305/script/Deploy.s.sol#L52-L59
b. https://github.com/orgs/darwinia-network/discussions/1566
c. https://github.com/orgs/darwinia-network/discussions/1571
d. https://github.com/orgs/darwinia-network/discussions/1544
e. https://github.com/darwinia-network/KtonDAO/pull/22
