Abstract

The purpose of this proposal is twofold:

To adjust the voting period for proposals within the DAO from the current duration of 2 days to a more suitable duration of 5 days. To raise the proposal threshold from the present requirement of 2.83K Hifi tokens to a more significant requirement of 50K Hifi tokens.

Motivation

The proposed changes aim to improve the governance structure by ensuring broader participation and more substantial stakeholder input in decision-making. Extending the voting period will provide token holders with more time to evaluate proposals, and the higher threshold will require a more substantial stake in the project for proposal submissions, reducing potential spam.

Specification

1. Change to Voting Period:

Set the votingPeriod parameter in the GovernorBravo contract to a 5-day (36000 blocks) period, currently at a 2-day (17280 blocks) period.

2. Change to Proposal Threshold:

Set the proposalThreshold parameter in the GovernorBravo contract to a requirement of 50,000 Hifi tokens, currently at 2,830 Hifi tokens.

Action Items

Upon successful voting on this proposal, the GovernorBravo contract should be updated to reflect the changes mentioned above.