We propose two changes related to SNS proposals, that have both been previously discussed on the forum.
- To increase security for critical proposals, we propose to increase the percent of the total voting power that must vote to adopt from 3% to 50%, as previously proposed in this forum post.
- Motivated by different requests from the community (link, link), we propose to add a new SNS proposal type that allows SNSs to mint new SNS tokens.
We motivate and present each change in more detail.
Background: Currently, there are two ways a proposal can be adopted:
- At any time, if at least 50% of the total voting power votes yes (absolute majority)
- If the voting period is over, and at least 3% of the total voting power voted yes, and there are more votes to adopt than votes to reject.
Proposed change: As presented in a previous forum post, we propose to change the 3% threshold to 50% for some “high-impact” proposal types. This includes SNS treasury proposals, minting proposals (see below), and possibly other types of proposals.
Raising this threshold to 50% means that these proposals would only be adopted if 50% of the total voting power votes to adopt. In other words, these proposals could only pass via absolute majority.
This ensures that no unpopular “high-impact” proposal gets passed just because most of the voting power didn’t notice the proposal. This is especially relevant for new SNSs, because DAO members might not have their neuron following set up shortly after launch.
How: Currently, there is a threshold named minimum_yes_proportion_of_total. This is the percent of total eligible voting power required to vote ‘yes’ for a proposal to pass. Currently it is set to 3% for all proposal types.
Our suggestion is to set minimum_yes_proportion_of_total to 50% for high-impact proposal types.
We propose to consider the following proposal types as high-impact:
- transfer_sns_treasury_funds that allow an SNS to transfer tokens from the SNS’s ICP or SNS token treasury to another account.
- The new minting proposal described later in this post that allows SNSs to mint new SNS tokens.
- deregister_dapp_canisters proposals, that allow an SNS to hand the control of some SNS-governed canisters over to some principals.
API changes: For each proposal, the minimum_yes_proportion_of_total would be added to the ProposalData, ensuring that all clients have access to this information on a proposal-by-proposal basis.
Background: There already exists a proposal that allows transferring SNS tokens from the SNS’s SNS token treasury and ICP tokens from the SNS’s ICP treasury.
Proposed change: As requested in this forum post, we propose allowing SNSs to mint new SNS tokens…
This would grant more flexibility for SNSs in managing their token ecosystem. It opens up possibilities for new kinds of airdrops and allows SNSs to fund projects by minting new SNS tokens.
How: The feature will be introduced via a new proposal type that resembles the current SNS treasury proposal. However, in this case, the tokens would be minted on the SNS ledger (which is technically realized by a transfer from the minting account that is owned by the SNS governance canister) rather than transferred from the SNS token treasury.
We are looking forward to hearing your thoughts on these changes and any other questions, comments, or concerns you have. If there’s agreement here, we plan to implement this change and propose it to the NNS community through the normal release process.