FloorDAO’s voting mechanism was created with the intention of facilitating competition between multiple NFT collections during periodic votes to generate broad attention for the DAO with high participation in governance.
However, this method for voting in collections for inclusion in the FloorDAO treasury has not yet been made clear, and has understandably led to specific collections requesting inclusion as was seen with the recent Tubby and Milady vote: FIP#8 - Accelerated User Onboarding [NFTx + DeFi] - #7 by scottrepreneur
This proposal intends to ratify the process for adding new collections to the FloorDAO treasury in order to maximize governance participation as well as minimize governance fatigue as described in the motivation below.
Without a clear path for including a collection in the FloorDAO treasury, we will see more and more NFT collections requesting specific inclusions and rallying votes from their respective communities, sending each one to a Snapshot vote.
The cadence of Snapshot voting has the potential to be overwhelming (which NFT collection does not want its floor swept by an 8 figure treasury?), resulting in multiple votes per week, many of which will be rejected for lack of due diligence and creating fatigue amongst voters.
A free-for-all process will also dilute the impact of the periodic “Floor War” votes that pit a large number of collections against each other with the overall winner being accepted into the DAO’s treasury.
This process will eventually be moved on-chain, however in the meantime the off-chain process must be clarified to avoid governance DDoS.
The following steps outline the process that a collection must follow if they are to be included in the FloorDAO treasury:
- Check if a forum.floor.xyz collections thread already exists for your collection (eg. Squiggle)
- If so, coordinate with your fellow collection supporters to fill out the Research Report using this template.
- If a collection thread does not exist, start a new thread with the collection title and make a copy of the document above.
- Create a new post in the forum under Collections with your completed report Collections - Floor DAO
- Collections with a fully formed Research Report will be reviewed by the FloorDAO Collections Crew and signed off for inclusion in future votes.
- Collection votes will be a “weighted vote” featuring several collections and votes will take place on Vote | FloorDAO.
- Collection votes must be at least 2 weeks apart. Exact timing of votes, which collections to include, sweeping and bond capacities are determined by the Policy team.
To account for the changing dynamics of the FloorDAO protocol, the effect of this vote will expire on the release of FloorDAO’s “veFLOOR” protocol upgrade.
The polling process begins now and will end at 10:00AM UTC on 2022-04-13. After this, a Snapshot vote will be put up in the following 24 hours.
- For: ratify this proposal
- Against: do not ratify this proposal