Off-chain voting system for Olympus.
Polis has been a community centered project since its launch in 2017. Over the last four years, our governance has evolved to allow the Polis Project to be more efficient, transparent and accessible for our community, from which great initiatives have been carried out.
For the launch of the Olympus Network on the Polis Chain, we have decided to use Snapshot as an off-chain governance mechanism. This is a platform used by a lot of projects to give their community a voice so that they can help shape the development of a project.
It also provides great flexibility in terms of the proposal answer format (multiple choice answers, preference order, etc…), and the way of how votes are counted. At launch, only POLIS holders are able to vote, even if their coins are locked in staking or a validator. But if in the future, this power needs to be expanded to account for new actors on the Polis ecosystem, it is possible to modify the vote counting rules to adapt to the needs of the Project.
This means that this tool does not exist within the Polis Chain, instead it may use a different chain or even a different technology to store and process data, hence it cannot trigger or automate some processes on the Polis Chain, such as fund transfer for passing proposals, in the same sense, it does not experience the costs involved when dealing with smart contract executions on the Polis Chain.
In contrast, the old Polis Agora and Plutus smart contracts that made up the Binance Smart Chain governance, required users to pay for every vote they decided to be a part of, as well as being able of automating payments to the proposal owners. Instead voting on Snapshot is free for everyone, and requires the DAO to trigger a smart contract execution on the Agora smart contract to fund proposals.
Anyone is able to create proposals on snapshot. In order to create a proposal you don't even have to own any amount of POLIS. Of course it is up to the rest of the community to vote or reject each proposal, and the proposal owner will have to do everything at hand so that the community understands the implications of the proposal.
Once a proposal is voted, and the result being positive the DAO has to release the funds to pay for a proposal. The payment to the proposal owner is guaranteed when a proposal meets the following requirements.
- There was at least 10.00% of the total circulating supply of Polis voting in the proposal.
- The proposal owner(s) has created a channel on the official server to answer community questions and update the community on the status and progress of the proposal.
- The funds will only be sent to the address mentioned in the proposal, as a transparency measure to our community.
The DAO liberating the funds is a measure to avoid fraudulent proposals from passing, specially when a proposal gets approved because it had no community participation.
It is as easy as heading to the Polis Space on Snapshot and creating a proposal, adding a title and a description that includes the payment details (if needed), selecting the options to vote for and sign a transaction (this has no cost) to confirm the proposal creation. Adoption DAO Manager Hans made a great video showing the process.