How to initiate on-chain parameter governance changes?

When community users want to initiate an on-chain parameter governance proposal, they can follow the template below to initiate a specific on-chain parameter change proposal:

  • Proposal Title: [Concisely describe the subject of the proposal]

  • Proposal Background: [Explain the background and reasons for the proposal, and why there is a need to modify on-chain parameters]

  • Proposal Initiator: [Information about the proposal initiator, including nickname, contact information, community contributions, etc.]

  • On-Chain Governance Parameters: [List the on-chain governance parameters that need to be modified and their current values]

  • Proposal Content: [Provide a detailed description of the proposal’s content and objectives, including the modified parameter values, if any]

On-Chain Parameter Proposal Initiation Process:

Community Consensus

The first step in participating in on-chain parameter governance is to initiate an on-chain parameter governance proposal that benefits the REI network and builds influence within the community, seeking support from more users to garner consensus for your proposal. Contact REI Network Discord administrators and discuss your proposal on Telegram, forums, community calls, and Twitter spaces.

Consensus Check

You will need to create an on-chain parameter modification proposal using the on-chain parameter governance proposal template in the on-chain parameter governance module. Utilize your influence and resources to make more community members aware of your ideas and gather community feedback promptly to achieve a broader consensus.

Proposal Review

The proposal will be reviewed by the REI DAO Community Council. To better adapt to market demands and industry technological developments, REI Network will also continuously upgrade and update its technology. If any on-chain parameter changes proposed in the community proposal are deemed to have any negative impact on the REI network after the review, the on-chain parameter change proposal will be immediately canceled.

Snapshot Voting

Snapshot is a blockchain-based community governance tool that allows the REI Network community to create proposals, vote on them, and implement proposal governance. It is based on Ethereum’s ERC-20 and ERC-712 standards and implements decentralized voting and governance mechanisms.

Security Mechanism

The governance security mechanism mitigates or eliminates any negative impact on the REI Network or REI DAO community by setting a 24-hour delay period before the proposal is formally implemented. During this time, all community members can review any effects of the on-chain parameter changes to confirm the security of the REI network. If the change to the parameter is determined to have any negative impact on the REI network after review, the on-chain parameter proposal will be immediately canceled.