Governance Proposal

After the Temperature Check ideation and community discussion phase, an idea transitions into a Governance Proposal for member voting. Proposal creators must deposit a parametrized amount of OPTIM tokens to create a formal on-chain governance proposal as collateral for submitting their proposal. Please note that in case the proposal isn't successful, the deposited OPTIM is then burnt and removed from the circulating supply.

Proposal Voting

After submission, a proposal queues for voting, adhering to the submission order. The “On-chain Proposals” folder on the ODAO Github serves as the discussion platform till voting ends. Our governance dashboard found at https://dao.optim.finance features the available proposals for voting, detailing past and pending proposals' history and timelines.

Voting involves the delegation of staked OPTIM tokens. Cast votes are unchangeable and non-retractable. Post-voting, the delegated OPTIM gets released. The details of the governance and snapshot system mechanics built by Sundae Labs will be outlined in our GitBook governance section. Anyone interested can understand how the on and off chain components are fused and the ways on-chain voting power is cryptographically verifiable and immutable.

Successful Execution Delay

Post-approval, a proposal enters the "Execution Delay" phase preceding its execution.

NOTE:

1. Moderators assist during proposal formation and submission. Persistence in presenting inappropriate proposals may lead to access restriction.

2. A Temperature Check can be withdrawn as needed; Formal Proposals cannot be retracted post-submission.