Origin Governance Proposals Guide
Update 2022–07–24
With the introduction of the OGV token, governance of the Origin Dollar protocol has transitioned from the existing Snapshot space to vote.ousd.com. Holders of Vote-Escrowed Origin Dollar Governance (veOGV) can now create and vote on proposals to determine the future of OUSD in addition to earning staking rewards and fees that currently amount to a 136% APY. Every week, voters decide how OUSD’s collateral should be allocated across its whitelisted yield-earning strategies, and vote.ousd.com will continue to be the home for signaling proposals and governing actions that would be impractical to conduct through on-chain governance.
We recently introduced the OGN Governance Portal where OGN holders can weigh in on the future direction of Origin and its products and protocols. We have seen a lot of great proposals submitted and a lot of active discussion on our #governance channel on our Discord server. In this post we wanted to provide some guidelines for the community to follow so that the proposal and vote process runs more smoothly.
As a reminder, you access the OGN Governance Portal at vote.originprotocol.com. You do need a Web3-enabled wallet or browser extension such as MetaMask to interact with the portal, but you do not need to spend any ETH on gas fees to vote or issue a proposal.
Currently, we require that OGNPOWER (the average OGN balance over the last 30 days, including staked OGN) be over 1,000 to create a proposal. If we see a glut of spam proposals we may increase this limit. A quorum for a valid vote is 1,000,000 OGN and once the proposal has been created any Origin Token holder can vote.
To help you receive the required voter support, the next sections of this guide will focus on best practices when creating a proposal and using our Discord server.
Proposal Guidelines
As a general rule, please do not submit low-quality or spam proposals. Everyone wants every token to go to the moon. The governance portal is not the place to express this. If you are going to suggest something related to token economics such as a token burn or a new staking program you should provide a solid argument. Again, please avoid low-effort proposals.
The OGN governance portal is powered by Snapshot which does not allow for editing proposals. However, you can cancel proposals after creating them. Again, these actions do not require spending any ETH on gas fees but do require signing using a Web3-wallet or browser extension like MetaMask. Please keep this in mind when creating proposals.
Question (Title)
Please use a concise but descriptive title or question to describe your proposal. Good examples include: Upgrade OUSD 3Pool Strategy to use Convex? or [DShop] Upgrade TailwindCSS module to v. 2.0 or higher. Bad examples include: Send OGN to the Moon NOW!!!!11 (low effort spam) or Upgrade Dshop (not descriptive enough).
We don’t have strict guidelines on whether or not the title must be in the form of the question of whether or not you should attempt to categorize the post further using brackets. Clear communication is our only request.
Proposal (Body)
A good proposal has enough specifics to outline the most important details of the proposal, a strong motivation, and the necessary background information required to make an informed vote.
Here is an example of a good proposal:
You can see that the proposal is well-written, organized, and detailed.
A bad proposal is too short, lacks specifics, and just a general desire or wish instead of a plan or actual proposal. Something like this is a bad proposal:
I propose that OGN conducts more activities to send the price of OGN higher. Other tokens have increased in price and OGN should do the same. The team needs to work harder.
Choices
You should give choices that fall into FOR (yes) or AGAINST (no) or choices that have specific numbers attached to them such as allocate 1,000 OGN, allocate 2,000 OGN, etc. Bad choices include things that don’t fall into a yes/no or for/against structure or choices that make no sense or are not specific enough.
Actions
On the “Actions” panel, single-choice voting or standard voting is the default choice on the governance portal but quadratic voting, ranked voting, and other kinds of voting are supported. Please read this guide by Snapshot before selecting a more exotic one. We generally recommend single-choice voting.
We also recommend a proposal voting length of about 1 week. You can select a delayed start date if you wish to get the discussion started on Discord before voting begins.
Below the start date and end date you will see a long number. This refers to the Ethereum block number that the proposal will be recorded on. We recommend not adjusting this value and going with the default option. Your OGNPOWER will be calculated from this block so before you can vote or issue a proposal you will need to have the required OGN in your wallet.
Discord
Whenever you submit a proposal to the governance portal, you should also get the discussion started on Discord. Please go to the #governance channel and briefly describe your proposal. You should provide a link to the proposal and create a Discord message thread to keep the conversation organized.
Gitcoin Bounties
You can create a Gitcoin Bounty that corresponds to your proposal. To do so you must have a Gitcoin account, a GitHub account, and some OGN or another token to fund the bounty in. If you are funding your own bounty, please make sure to create the bounty before you create the proposal on the governance portal as proposals cannot be edited. You’ll need to create an issue on GitHub first and then grab that URL and submit a funding proposal on Gitcoin.
If you are requesting that Origin ecosystem funds be used to fund the bounty, please make sure to start the discussion in Discord before submitting a proposal for the same reasons. Please note that any proposal that is requesting ecosystem funds must include the specific amount of OGN in the proposal for it to be considered valid.
We hope you’ll join us at vote.originprotocol.com. If you have any questions about governance, please flag me on Discord @Coleman#7972 or catch me in #governance!
Learn more:
- Participate in OGN governance: vote.originprotocol.com
- Buy Origin Tokens (OGN): Coinbase, Coinbase Pro, Binance, Huobi, Upbit
- Track OGN token metrics: originprotocol.com/dashboard
- Get Origin Dollars (OUSD): ousd.com
- Join our team: angel.co/originprotocol/jobs
