SLURP-1 and SLURP-0 | Formalize stake.link Governance Structure and Processes, and SLURP Purpose and Guidelines

SLURPs
1

Abstract

This SLURP is intended to formalize the roles of the four entities that govern the stake.link protocol, as well as the process for formally proposing and ratifying changes to the protocol via stake.link Upgrade Request Proposals (SLURPs). These entities are the stake.link community (SDL holders, stakers, and liquidity providers), the Governing Council, the Core Contributors, and the stake.link Multi-sig Holders.

The community proposes SLURPs and votes for community Council seats, the Council votes on SLURPs, the Core Contributors implement SLURPs, and the Multi-sig issues contract changes.

Rationale

Currently, the stake.link protocol has no formal governance structure, and no process for parties to formally propose changes and upgrades to the protocol.

The adoption of Council style governance allows for both meaningful formal community input and rapid iteration of the protocol.

Specification

SLURP Process and Format

Format

Defined by SLURP-0

Process

  1. Informal ideation, vetting, discussion, and development in Discord
  2. Formal discussion, development, and initial draft proposal of SLURP in Discourse
  3. Formally propose SLURP in Github
  4. Council votes on SLURPs via Snapshot

Council Composition

Community Seats

  • Seth Vanderlaan
  • Jimmy Russles

Node Operator Seats

  • Peter - Chainlayer
  • Thorsten - Cryptomanufaktur
  • Jonny - LinkPool
  • Ryan - LinkPool
  • Eric - LinkPool

Council Terms

Community Seats

6 month Epochs (terms of service), future members determined by straight voting power determined by SDL, stSDL, and SDL in LP positions.

Node Operator Seats

12 month Epochs, members appointed by Multi-sig holders

Council Member Voting Power

Leveraging an implementation similar to the Thales Council, NFTs will be assigned to Council members during their tenure and revoked at the end of the Epoch of their service.

Voting

After discussion on talk.stake.link, this SLURP (SLURP-1), paired with the implementation specifications of SLURP-0, will be put up for a YES/NO vote based on simple SDL/stSDL/SDL in LP position holdings via Snapshot.

Copyright

Copyright and related rights waived via CC0.

2 Likes
2

Why are there not more node operators represented in the Seats? Three from LinkPool seems heavy.

4

We’ve proposed 2 of 7 seats go to the community, resulting in 5 remaining seats for node operators. As the sole Core Contributors for the stake.link protocol, LinkPool carries the entirety of the fiscal burden for continued business and product development of the protocol. We look forward to additional Core Contributors coming onboard, which naturally creates shared fiscal responsibility, warranting review of seat distributions.

1 Like
5

That makes sense. We should discuss having open financials as well then. This way we can avoid having another situation arise as it did late November 2022.

3 Likes
6

How does the “Voting” step work vs Council Voting?

Is the voting period equal to community members voting on a proposal (SDL holders)? If so, does that include council members?

If the voting and council member voting are in fact different steps in the process, is this basically saying that the community can vote one way, but the council can completely override that vote?

1 Like
7

In the voting step to ratify a governance proposal/SLURP, it will be just the Council that votes on the proposal - the same model as Synthetix and Thales.

1 Like
8

Thank you, I will have to read up on those other protocols and how their voting is implemented.

But if normal SDL holders aren’t part of this, there’s no community vote? It’s only community based proposals? And if that’s the case, then how can the community really get a say in how things are run?

1 Like
9

The community (and any party really) can formally propose SLURPs, run for and vote on Community Council member seats. Those are the formal mechanisms for their participation in governance. Informally, sharing feedback on this forum and via Discord.

1 Like
10

How were the “community seats” chosen? They don’t represent the community at all.

You have chosen the exact 2 community members that defended your actions and they dont represent the thoughts of the community.

These seats should have been voted on and to call them community seats is just plain wrong.

11

Hey Chad, the two Community seats were selected based on the individuals’ longterm experience with the Council form of governance. Their robust understanding of the processes, benefits, and pitfalls of this style of governance will enable us to get the necessary processes in place to get things off on the right foot, and ensure our governance mechanisms are successful in the longterm. Council votes will be up 6 months after the formal establishment of governance, and anybody can run for a seat.

1 Like
12

I doubt that these Individuals were solely chosen based on their long term experience with the council form of governance.

I also think it could be seen as a conflict of interest that the “community seats” were picked by the team.

The community is currently writing up a proposal to submit these seats to a community vote.

13

I’m all for a smooth start. By kick-starting the governance process this way with experienced individuals that are vetted by the team to have a track-record of contributing to these types of governance models; we can be sure to have a smooth start.

3 Likes
14

Snapshot voting is now live for SLURPs 0 and 1!

1 Like
15

Can we talk a minute about Jimmy RUssle? Why does this person deserve a community seat when he is that out of touch with the community?

He even lies to mods in main chat by saying the screenshots are photoshopped. How can you believe he is the right choice for the community seat?

jimmy 3
jimmy 3719Ă—1280 124 KB

jimmy 1
jimmy 11079Ă—1793 374 KB

jimmy 2
jimmy 21071Ă—1655 341 KB

16

Hi, thanks for sharing your feedback with us!

Regarding the rationale behind the selection of the candidates, we wanted to go live with governing council members with robust experience with the process of Council style governance. The folks selected were early contributors who generously offered their time, advice, and expertise on the benefits and pitfalls of different models. During the early days of the protocol we recognized it was imperative that we go fast with folks who are experienced and also aligned to the success of the protocol. We will hold the first elections for the Community council seats 6 months after full go-live (which will be marked by the assigning of the NFTs to the Council members).