On-Chain Voting

BUILD Governance

All BUILD-related contracts are controlled by the governance contract which is itself controlled by the $BUILD token holders.

Modules controlled by the governance:

Parameters

Voting parameters can be changed in the future. As of Jan 25, 2021, they are as follows:

  • Min balance to submit new proposal: 100 $BUILD;

  • Quorum required to pass a proposal: 5,000 $BUILD;

  • Voting period: 24 hours;

  • Execution delay (after voting period ends): 24 hours (so 2 days since it's first submitted).

Pre-proposal

Before submitting a proposal, start a discussion in the #governance channel in Discord in the relevant Discord server.

For example, if you want to change an epoch period of Basis Gold, start a discussion in #governance channel in Basis Gold Discord.

If you want to allocate a budget to the homepage of build.finance (unrelated to Basis Gold), post a message in #governance channel in BUILD Discord (not in Basis Gold).

Proposal

1) After you get general feedback, assuming mostly positive sentiment, you need to find a developer to code up your proposal. The developer can decide on how much to charge for coding up this proposal which will be paid by the treasury directly from the code of the proposal.

2) After the proposal contract is deployed, someone with enough BUILD needs to submit a proposal transaction to the governance contract. After this point, the proposal is available for voting. A moderator will announce it in the #annoucements channel along with the instructions on how to vote.

Voting

1) To vote on the proposal, you first need to approve the governance contract as a spender of your BUILD. This is required since the gov contract will lock your BUILD tokens for the duration of the voting period to prevent abuse.

To approve it, go to the BUILD token and execute the approve function with the following values:

  • Spender: 0x5A6eBeB61A80B2a2a5e0B4D893D731358d888583 (gov contract)

  • Amount: 100000000000000000000000000

2) Go to the governance contract and execute vote function with propsalId as announced on Discord and support set to either true or false

Post-voting

If the proposal passes, it will become executable after the execution period. The execution must be called by someone.

If it fails, nothing will happen.

To withdraw your funds after the proposal period ends, execute the withdraw function on the gov contract.

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Off-Chain Voting

Prior to the launch of on-chain governance, BUILD used off-chain signalling via Snapshot. This is still set up and might be used in cases when community wants to do non-binding signalling/polling.

  • Snapshot (off-chain): https://snapshot.page/#/build;

  • Minimum quorum required: 5%;

  • Voting window: At least 24 hours;

  • Minimum $BUILD to create a proposal: 10 $BUILD (0.1% of the total supply);

  • Voting with LP tokens: Holders are able to vote with BUILD/ETH UNI-LP tokens.

Proposal Submission Process

  1. Create a soft proposal in the #governance channel on Discord (or in a product channel if it's more relevant) https://discord.com/channels/751313634038251630/751633430516727808;

  2. Gauge feedback from the community (aka community vetting);

  3. Make corrections or dispose;

  4. Set up a snapshot proposal;

  5. Once ready, ask a discord admin/moderator to make an announcement to @everyone and share on twitter. Note: community proposals submitted to Snapshot without prior discussion on discord will be deemed void.

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