PieDAO remains one of the most underrated communities and asset management protocols in the space - albeit it being one of the largest. As mentioned in @gabriele’s Inside the Bakery: How We Build Pies publication, PieDAO “employs an open and responsive process for the modeling of its different Pies through discourse.” and rightly so. It is imperative that PieDAO (the protocol) and PieDAO (the community) generate an effective synergy to not only maximize feedback but to welcome & challenge innovative ideas that will propel PieDAO to reach critical mass. This PIP aims to establish a framework towards the construction of a durable and scalable meta-governance foundation per community participation & ownership (progressive decentralization).
How will this be done?
What is Meta-Governance?
Meta-governance equips $DOUGH token holders with the capability to vote on governance proposals for other protocols. Any & all governance tokens held with the DeFi++ index will be used to vote on the underlying protocol’s proposals. To begin, voting will be enabled for the following protocols: Uniswap, Compound, and AAVE. Depending on the success/participation rate in the aforementioned protocol voting via DeFi++, a proposal will be submitted to expand governance participation to other supported protocols (i.e. YFI, Balancer, SUSHI, MKR).
How will this work?
As the saying goes, “if it ain’t broke, don’t fix it.” This said, PieDAO’s meta-governance methodology could mirror that of Index Coop’s where meta-governance voting is executed via the GovernanceModule in the following format:
- A governance vote is called for AAVE, Compound, or Uniswap.
- Proposal is replicated on PieDAO’s snapshot page.
- $DOUGH holders vote on the meta-governance proposal via snapshot.
- Meta-governance voting period will end 1 day (24 hours) prior to the underlying governance vote ends.
- At the end of the voting period, if a x% quorum is reached, the PieDAO multisig will proceed to vote in accordance with the snapshot proposal majority. Since votes cannot be split proportionally, reaching quorum ‘for’ a proposal will use the full weight of tokens held by DeFi++ in favour or if majority is ‘against’.
What can we expect moving forward?
There are a few efforts that could be formulated:
- Creation of a Meta-Governance Committee that would act as the arbiter in the event that quorum is not met.
- DeFi++ Metagovernance Vote Delegation to Multisig. Please review Index Coop’s IIP-49 to acquire a better understanding.
- Construct a meta-governance organization structure within PieDAO. This could be in the form of a working group, team of elected community members (approximately 10 max) and 2 PieDAO team members.