For the first two rounds of Streamr governance voting, only the Streamr team were able to submit governance proposals. This was a temporary limitation to first get some hands-on experience with how the Snapshot tool works, and to learn what participation level can roughly be expected from the community of token holders. However, for governance to be truly decentralized, any stakeholder in the ecosystem should be able to submit proposals, which is exactly what SIP-4 proposed.
100% voted with 47.93m DATA tokens to pass the SIP-4 proposal and allow community members to submit their own SIPs.
The current threshold for submitting community proposals is set to 25,000 DATA. A proposal will pass if the majority of token-weighted votes cast on the proposal support it, AND it is supported by at least 30M DATA. The minimum balance, as well as the 30M DATA acceptance parameter, can be later changed by other governance proposals, if they turn out to be too high or low.
To submit a proposal, go to the Streamr Snapshot page and connect your web3 wallet containing the required amount of DATA tokens. Then click “new proposal”, and fill in the parameters.
- Start date: The date and time when the voting opens, if the snapshot block has been mined. If it hasn’t been mined yet, the vote will open as soon as it is mined.
- End date: The closing date and time of the vote.
- Snapshot block number: The block number on Ethereum mainnet that is used to determine the DATA balances of each account and therefore the voting power of each token holder.
DATA holders will need to withdraw their tokens from exchanges into wallets before the snapshot block number is mined, which locks the state of eligible voters. For estimating future block mining times, this tool on Etherscan is useful.
Before you hit publish, please share your proposal idea with others in the Streamr community to collect feedback, garner its popularity, and ensure they have enough time to prepare to vote. The best place for this is the #🏛governance channel in the Streamr Discord.
The Streamr team submit governance proposals in quarterly batches. During those periods, the Streamr Snapshot will probably get more attention than at other times.
You can find more instructions on submitting a proposal from Snapshot.