FIP-XX: OA Re-election

Proposals
1

Authors:
Bruno Rodrigues, Count Vidal, Cozeno, DioDionysos, Face Shaver, Meertitan, Pavel

Summary:
Elect seven Optimistic Approval (OA) members every six months, starting in January. Request 126,000 TRIBE per six months from the DAO to compensate OA members.

Motivation:
OA has been one of the cornerstones of decentralization for Fei Protocol. This proposal aims to properly elect 7 OA seats, with a transparent and just compensation system in place. OA compensations will be folded into Tribal Force once it is established.

Specification:

  • Conduct an approval vote on Snapshot with all the applicants to assign the 7 OA seats. The 7 members with the most votes will be part of the OA multisig.
  • Transfer 126,000 TRIBE from the DAO treasury to the OA multisig.
  • Hold OA elections twice every year, in January and July.

Every community member is welcome to make a case for their inclusion in OA. Feel free to nominate yourself as well as others.

OA members will need to be highly engaged and follow the discussions around the protocol. They will need to be aware of the FIPs that are part of the OA framework. OA members are responsible to ensure transparency in all OA actions.

OA is authorized to act according to snapshot results with the following scope: managing TRIBE rewards, deploying and removing minted FEI in lending and Laa$ integrations, tuning FeiRari parameters. For more info about the FIPs related to OA scope, click here.

As a part of their tasks, we propose the following operational framework:

  1. All discussions pertaining to the operation and procedures of the OA must be done in the public Optimistic Approval Channel of Discord.

  2. Any prospective transactions wishing to be queued up for consideration by the OA must be presented in the discord “OA” channel for a 24 hour discussion period. The presented transactions can be divided into two types, Direct Authorization or Subsidiary Authorization.

  3. Every Subsidiary Authorization will be tracked by being assigned a homogenized sub FIP number when it presents itself for consideration. For example, new LaaS allocations that didn’t go through a separate snapshot can be named as FIP-36 (this is the empowering snapshot)-A/B/C (subsidiary number assigned based on order).

  4. After determining that a new transaction is indeed empowered by an FIP, or is viable as a Subsidiary Authorization, the proposal may be queued up to the multisig.

  5. Upon successful execution of a transaction, the original transaction exposition, along with a brief summary of what was ultimately executed, should be uploaded into the Optimistic Approval Tracker in Notion for transparency.

For more details about OA operational procedures, click here.

7 Likes
2

Very happy with the optimistic approval mechanism so far!

Regarding payment, will this be in addition to or subtracted from any tribal force payments, if the latter proposal does go through and an OA member is also receiving remuneration via that programme?

2 Likes
3

Looking forward to more structure and inclusion for more community members to participate in OA.

1 Like
4

Thanks for writing this up Dio! Big fan of the transparency and process you have advocated for.

I’ve been writing up some thoughts on how we can reorganize our governance in light of the merger.

I believe we should have 2-4 OA multisigs with clear isolated charters and varying degrees of autonomy and expertise on them.

These may be smaller, for example 3 of 5 and contain a mix of Fei and Rari core team and community contributors.

That aside, the budget seems fine and semi-annual elections also seems appropriate, with the caveat that the dao can snapshot to change OA composition at any time as needed.

3 Likes
5

My vision is that the rewards get subtracted from the total Tribal Force budget. So an OA member would still receive 3,000 TRIBE/month but via Tribal Force.