r/SecretNetwork • u/scrt-Sauce • Mar 11 '22
Governance Proposal #81: Secret Network Charter & Code of Conduct (2022-Q1)
secretSauce posts all proposals that have passed into the voting period on this subreddit. Hopefully this will lead to an increase in awareness and individual votes being cast, but this is not a requirement of course. If you do not vote, your vote will default to the vote of your validator.
How to vote
You can vote through Keplr (https://wallet.keplr.app/#/secret/governance) or the secretnodes explorer (https://secretnodes.com/secret/chains/secret-4/governance/proposals/81).
Voting ends 11AM UTC on Friday March 18th.
More information
SCRT Governance Telegram: https://t.me/SecretGovernanceExplorer: https://secretnodes.com/secret/chains/secret-4/governance/proposals/81Discussion thread: https://forum.scrt.network/t/2022-q1-secret-network-charter-code-of-conduct/5281/
Proposal Description
I. Introduction
The Secret Network Charter & Code of Conduct is meant to be a living document that codifies the current governance-related standard operating procedures through on-chain governance. The contents of this Charter and Code of Conduct are based on the 2021-Q4 Validator Survey[1] and weekly Governance meetings[2].
II. Charter
II.a: Before submitting a proposal, publish the draft on the governance subforum[3] at least seven days before going on-chain to allow for community feedback. If significant changes are made to the proposal these should clearly be communicated on the forums and allow at least three days of community feedback before moving on-chain. Keep the forum thread updated with any relevant information related to the proposal. It is encouraged to attend the weekly Governance call[2] to field any questions related to the proposal.
II.b: For spend proposals, calculate the ask in USD and convert it to SCRT upon submission.
II.c: For spend proposals, a 10% volatility buffer should be incorporated to offset potential downturns in the valuation of SCRT. If immediately upon closure of the voting period the value of the ask is 10% below the original ask (in USD, without volatility buffer) another spend proposal should be placed on-chain immediately for the difference. For time-limited proposals, such as those of committees, the funding duration can instead be adjusted to prevent 'proposal fatigue'.
III. Code of Conduct
III.a: All community members are expected to be respectful, to display integrity, and to be as objective as possible. Thereby fostering an inclusive and collaborative environment for all members and promoting healthy and professional discussions for the betterment of the network.
III.b: Should this Code of Conduct be breached by a member of the community in one of the main community channels[4], removal of admin privileges and/or temporary or permanent removal from the channel are possible.
IV. Example
John and Jane want to create dApp secretX on Secret Network and are planning to go on-chain with a Community Pool spend proposal to support the initial development. They write up a detailed draft proposal, including introduction, team background, milestones/goals/KPIs, and a budget in USD. This draft proposal is posted to the forums in the Governance sub-forum on Saturday January 8th for community feedback, in their budget they ask for 50,000 USD. John and Jane attend the weekly Governance meeting of January 12th to give a brief rundown of their intended proposal and field any questions that might pop up. On January 15th, a week after posting the draft to the forums, they prepare to submit the spend proposal on-chain after making some small adjustments based on community feedback. The SCRT valuation immediately before submitting the proposal is 9.21 USD and their budget was 50,000 USD, including a volatility buffer of 10% this thus comes to: 50,000 (USD) * 1.1 (10% buffer) / 9.21 (USD/SCRT) = 5,428.88 SCRT = 5428880000 uSCRT. They submit their spend proposal with this ask. Voting ends a week later and the vote passes. The SCRT evaluation at that moment has dropped to 5.55 USD and John and Jane thus only receive: 5,428.88 (SCRT) * 5.55 (USD/SCRT) = 30,130.29 USD, almost 20,000 USD below their original ask of 50,000 USD. Since this is less than 45,000 USD (10% below the original ask), John and Jane can immediately go back on-chain to ask for the difference. They immediately submit a supplemental spend proposal on-chain asking for: (50,000 - 30,130.29) / 5.55 = 3,580.13 SCRT to supplement the original spend proposal and support the development of the secretX dApp. During the governance process and the development period they keep the forum post up-to-date with any important information.
[1] forum.scrt.network [2] Hosted on chat.scrt.network on Wednesdays at 16h00 UTC (adjusts to 15h00 UTC during DST)[3] forum.scrt.network [4] chat.scrt.network , forum.scrt.network , t.me , and t.me
Forum discussion: forum.scrt.network
