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Update to 0.1.2 #2

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Jun 3, 2022
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Update to 0.1.2 #2

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fix: Language and % fixes
qbzzt Jun 3, 2022
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updated to 0.1.2
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fix: Language and % fixes
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@qbzzt
qbzzt committed Jun 3, 2022
commit 209fa375bb297dd54f05519058cbd2d2b8872e72
22 changes: 11 additions & 11 deletions manual.md
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Expand Up @@ -14,17 +14,17 @@ The Token House is just the first part of the Optimism Collective [governance st

The two primary tools for Optimism Collective governance are:

- **Snapshot:** Where all Token House governance proposals are submitted for vote.
- [**Snapshot**](https://snapshot.org/#/opcollective.eth): Where all Token House governance proposals are submitted for vote.
- [**The Optimism Forum**](http://gov.optimism.io): A platform for discussion and deliberation about governance proposals.

### **Proposal Process – Components of a Valid Proposal**

The lifecycle of a Token House governance proposal involves three phases: (1) feedback; (2) submission; (3) voting; and (4) implementation. Each phase, and its associated requirements, are described below.
The lifecycle of a Token House governance proposal involves four phases: (1) feedback; (2) submission; (3) voting; and (4) implementation. Each phase, and its associated requirements, are described below.

1 . **Feedback**

Anyone submitting a proposal should make an effort to gather feedback from the community and from Delegates prior to submitting a proposal for vote. There are two primary avenues for feedback:
a. For lightweight or early feedback, authors may post a proposal (or an abbreviated version of your proposal) in the #proposal-discussion channel on Discord. This channel is open to the entire Optimism community and can be used as an easy way to get a quick temperature check.
a. For lightweight or early feedback, authors may post a proposal (or an abbreviated version of your proposal) in the #gov-proposals channel on [Discord](https://discord-gateway.optimism.io/). This channel is open to the entire Optimism community and can be used as an easy way to get a quick temperature check.
b. For formal feedback from governance participants, authors may post a proposal in the Forum with a `[DRAFT]` label in the title. This signals your proposal is ready for feedback from Token House delegates.
All feedback from these two forums is non-binding, but proposers are expected to engage in good faith. This step is designed to help craft thoughtful, effective proposals.

Expand Down Expand Up @@ -61,7 +61,7 @@ A Token House governance proposal will only be approved if it satisfies the foll

- **Quorum:** The minimum number of total OP votes required to be cast in connection with a proposal. Here, a quorum is measured as *a % of the total votable OP supply*.
- The total votable OP supply will be determined based on a reasonable estimate provided by the Optimism Foundation prior to each voting period.
- **Approval threshold:** The minimum number of OP votes required to be cast in favor of approving a proposal. The approval threshold for each proposal is measured as *a % of votes cast to approve (relative to the total number of votes cast in connection with) a proposal*.
- **Approval threshold:** The minimum number of OP votes required to be cast in favor of approving a proposal. The approval threshold for each proposal is measured as *% of votes cast to approve relative to the total number of votes cast in connection with a proposal*.

**A snapshot to determine voting power** for each delegate or OP holder will be taken at the commencement of a given voting period.

Expand All @@ -83,13 +83,13 @@ The different requirements for submission and approval of each Proposal Type are

|Proposal Type |Description |Submission Requirements |Vote Duration (# of voting periods)|Quorum (minimum % of votable OP supply actually voted)|Approval Threshold(minimum % of votes cast to approve relative to total votes cast)|
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------|------------------------------------------------------|-----------------------------------------------------------------------------------|
|Governance Fund (Phase 0 Batch)|OP distributions to proactively incentivize future growth of projects and communities in the Optimism ecosystem. [Phase 0](https://community.optimism.io/docs/governance/gov-fund/#:~:text=%23-,Phase%200,-Phase%200%20) specifically rewards existing projects that drove growth to Optimism before Airdrop #1|Eligibility requirements described [here](https://community.optimism.io/docs/governance/gov-fund/#:~:text=%23-,Phase%200,-Phase%200%20). The Optimism Foundation will assist eligible Phase 0 candidates to structure submissions. Snapshot proposal for batch to be initiated by the Foundation.|1 (~2 weeks) |0.1 |0.51 |
|Governance Fund (Phase 1) |OP distributions to proactively incentivize future growth of projects and communities in the Optimism ecosystem. [Phase 1](https://community.optimism.io/docs/governance/gov-fund/#:~:text=%23-,Phase%201,-Phase%201%20) begins after Airdrop #1 |Forum + Snapshot |1 (~2 weeks) |0.1 |0.51 |
|Protocol Upgrade |Scheduled changes to the on-chain smart contracts comprising the mainnet Optimism protocol |Snapshot |2 (~4 weeks) |0.1 |0.51 |
|Inflation Adjustment |Changes to the inflation rate of newly minted OP (currently capped at 2% annually) |Snapshot |2 (~4 weeks) |0.1 |0.76 |
|Director Removal |Removal of a director of the Optimism Foundation |Snapshot |2 (~4 weeks) |0.1 |0.76 |
|Treasury Appropriations |The amount of OP the Optimism Foundation may spend or distribute annually, beginning in Year 2 of its existence (the Year 1 budget is 30% of the initial total OP supply) |Proposals to be initiated by the Foundation |2 (~4 weeks) |0.1 |0.51 |
|Rights Protections |OP holders must consent to any changes to the founding documents of the Optimism Foundation, if those changes would materially reduce their rights |Proposals to be initiated by the Foundation |2 (~4 weeks) |0.1 |0.51 |
|Governance Fund (Phase 0 Batch)|OP distributions to proactively incentivize future growth of projects and communities in the Optimism ecosystem. [Phase 0](https://community.optimism.io/docs/governance/gov-fund/#:~:text=%23-,Phase%200,-Phase%200%20) specifically rewards existing projects that drove growth to Optimism before Airdrop #1|Eligibility requirements described [here](https://community.optimism.io/docs/governance/gov-fund/#:~:text=%23-,Phase%200,-Phase%200%20). The Optimism Foundation will assist eligible Phase 0 candidates to structure submissions. Snapshot proposal for batch to be initiated by the Foundation.|1 (~2 weeks) | 10% | 51% |
|Governance Fund (Phase 1) |OP distributions to proactively incentivize future growth of projects and communities in the Optimism ecosystem. [Phase 1](https://community.optimism.io/docs/governance/gov-fund/#:~:text=%23-,Phase%201,-Phase%201%20) begins after Airdrop #1 |Forum + Snapshot |1 (~2 weeks) | 10% |51% |
|Protocol Upgrade |Scheduled changes to the on-chain smart contracts comprising the mainnet Optimism protocol |Snapshot |2 (~4 weeks) | 10% | 51% |
|Inflation Adjustment |Changes to the inflation rate of newly minted OP (currently capped at 2% annually) |Snapshot |2 (~4 weeks) |10% |76% |
|Director Removal |Removal of a director of the Optimism Foundation |Snapshot |2 (~4 weeks) |10% |76% |
|Treasury Appropriations |The amount of OP the Optimism Foundation may spend or distribute annually, beginning in Year 2 of its existence (the Year 1 budget is 30% of the initial total OP supply) |Proposals to be initiated by the Foundation |2 (~4 weeks) |10% |51% |
|Rights Protections |OP holders must consent to any changes to the founding documents of the Optimism Foundation, if those changes would materially reduce their rights |Proposals to be initiated by the Foundation |2 (~4 weeks) |10% |51% |

### **Implementation and Administration**

Expand Down