Governance

Overview of the Governance Architecture.

The governance platform allows token holders to participate in the future of the EXA Ecosystem. EXA token holders can get involved in the project by proposing or deciding on protocol settings, new feature implementation, strategic partnerships, and even modifying the governance system itself.

The governance architecture is greatly inspired by Uniswap, DyDx, Tinyman, and Blur protocols.

Proposal Lifecycle

Proposal Lifecycle

The Governance model consists of 5 distinct phases.

Phase 1 - Forum Discussion

Initial concepts and suggestions are first shared on the forum to gather input from the community. This serves as a platform for receiving feedback. Each proposal undergoes a phase of improvements and addresses any objections raised. If the proposal is positively received and feedback is integrated, it progresses to the next phase.

Phase 2 - EXRC Creation

Off-chain EXA Request for Comments (EXRCs) creation is the first step in the governance improvement process. Anyone can participate in the Governance Forum, create off-chain EXRCs, and discuss potential improvements.

Phase 3 - EXRC Feedback

Once posted on the Governance Forum, all questions and comments should be addressed and taken into consideration to further improve the EXRC.

Phase 4 - EXIP Creation

An EXA Improvement Proposal (EXIP) is the final version of the proposal, created by the EXA Community based on the information gathered in the Forum Discussion. The EXIP is then posted on the DAO Platform for community members to vote on in the next phase.

Phase 5 - EXIP Voting Process

This is the final step, where community members vote to either approve or reject the proposal. A proposal must receive more than 50% of the votes to be approved. Otherwise, it is rejected.

The full process and implementation will be detailed closer to the launch of the DAO.