Governance
The following will Explain the Governance of the HeliSwap Platform and provide all details how $HELI holders can actively participate.
Last updated
The following will Explain the Governance of the HeliSwap Platform and provide all details how $HELI holders can actively participate.
Last updated
HeliSwap is set out to be a community led projects. The creators understand the importance of not just giving the community a voice, but to also let them actively impact the discourse and future of the platform. To do so, they launched a DAO that is unique on Hedera in complexity and usability.
The DAO is tied in closely with the Single Sided Staking (Phase 2) mechanism. Any community member that has $HELI staked in SSS Phase 2 has earned themselves voting rights for the DAO in proportion to their stake (and lock time).
These voting rights can then be used to vote and make proposals.
Anyone who has enough $HELI tokens staked to hit the minimum threshold of 1% of staked tokens in SSS Phase2. If during the time of the proposal, the amount falls below the actual threshold, the proposal may be revoked. Therefore, we suggest a significant amount of $HELI to be staked for your proposal in order to not face that risk.
The process of the DAO takes some getting used to, which is why the team is gradually transferring more and more decision making to the DAO as the system matures. To start with, we encourage the community to focus on the existing products like HeliVerse, Yield Farms, Token Whitelisting etc. While more complex proposals such as the passing out of grants should be coordinated with the Governing Council. There is direct access to pass proposals by the governing council prior to the DAO as well to get them reviewed before submitting which may increase the chances of success.
On each serious proposal, the Governing Council may also post a comment voicing what they think of the proposal and what the Council thinks is best for HeliSwap. This may then be considered by the voters as well. The Governing Council, at times, may have some insights that are not publicly available which can affect the outcome of a vote if not shared. The goal is that both the DAO and the Governing Council continue to work and support the platform.
Contact the council about your proposal idea: governance@heliswap.io
A proposal should follow a certain depth of content that is enough to let potential voters get a good understanding of the proposal itself, the benefits for HeliSwap and the reason for such proposals. A proposal that fails to meet these minimum requirements will not just have it harder to pass a vote - even if the idea is good in nature - but also cause less people to participate in the vote which may lead it to fail due to a lack of quorum.
Introduce the topic providing context and how it benefits HeliSwap’s objectives and vision
Summarize the project, providing context where needed and what exactly it is that you are proposing and for what reason
What impact or benefits will it bring to $HELI holders? How does it potentially advance the platform or brand?
When asking for a very specific change that may involve an allocation of tokens or similar, these details should be summarized here
A proper proposal has a conclusion that wraps up the entire topic and encourages voters to participate in the vote.
Title: Example Proposal
Project Summary: The "Example Proposal" focuses on the development and implementation of a new decentralized voting system within the HeliSwap platform. We propose the creation of a Decentralized Autonomous Organization (DAO) for HeliSwap, which will empower token holders to have a direct say in the platform's decision-making processes. This DAO will be governed by $HELI token holders, allowing them to propose and vote on key platform changes, such as protocol upgrades, fee adjustments, and ecosystem expansion. The motivation behind this proposal is to foster greater community involvement, transparency, and decentralization within HeliSwap.
Benefits to HeliSwap Ecosystem: Implementing a DAO within HeliSwap offers several significant advantages to the platform and its $HELI token holders:
Enhanced Governance: The DAO will enable $HELI holders to actively participate in shaping the platform's future, leading to more inclusive and community-driven decisions.
Transparency: All proposals, discussions, and voting outcomes will be transparently recorded on the blockchain, ensuring complete openness in decision-making processes.
Community Engagement: By allowing token holders to voice their opinions and propose changes, we anticipate increased community engagement and a stronger sense of ownership among HeliSwap users.
Alignment with Decentralization: This initiative aligns with HeliSwap's commitment to decentralization, making it a more resilient and censorship-resistant platform.
Summary of the Specifics: In brief, the "Example Proposal" seeks a portion of the HeliSwap treasury to support the development and implementation of the DAO infrastructure. This allocation will enable the creation of smart contracts and user interfaces necessary for the DAO's functionality and governance operations, including voting and proposal submissions.
Conclusion: In conclusion, the "Example Proposal" represents an exciting opportunity for the HeliSwap community to take a significant step towards greater decentralization and community-driven governance. We encourage all $HELI holders to participate in the forthcoming vote to decide on the allocation of treasury funds for this project. Together, we can shape the future of HeliSwap and create a more robust and inclusive ecosystem for all stakeholders.
Thank you for your attention, and we look forward to your support in making HeliSwap even better. Let's build a stronger, more decentralized future together!
All stakers of $HELI are not just allowed, but also encouraged to participate and vote on proposals. A certain quorum of voters is even required for proposals to not just automatically get rejected - so grab your HELI friends and actively promote voting.
The HeliSwap DAO works with voting power. When you stake $HELI into the Single Sided Staking Pool, that gives you an equal representation of voting power (1:1). But that is not all - Single Sided Staking includes a locking mechanism that will not just give you extra APR on top of the SSS APR for staking - the lock period also adds a boost to your voting rights. (1 year lock = 2X voting rights). You can then use your voting power and vote on each proposal.
Staked tokens that are added while a proposal is active are not considered for the active proposal(s). Otherwise, key metrics such as the quorum would fluctuate and not be fixed.
Warm-up Period
1 Day
Time to familiarize yourself with the proposal. Voting is not allowed yet.
Voting Period
7 Days
During this time, users may cast their vote. Changing opinion during this period is also possible.
Minimum Quorum
33.33%
The minimum amount of overall staked $HELI that needs to participate in voting for a proposal not to fail automatically
Acceptance Threshold
60%
60% of the votes on a proposal need to be in favour for the proposal to be accepted.
Creation Threshold:
1%
The creator of the proposal needs to hold at least 1% of staked $HELI to be allowed to make a propsal. Falling below the threshold may invalidate active proposals.
