Proposal procedure

The procedure for proposing a vote is only available to "initiators". Proposals are made as follows:

Proposal Drafting

  • Any BAFEX holder with β‰₯ 100,000 tokens can prepare a proposal text and publish it in the official community chat (Discord/Governance Forum) for discussion.

  • Duration of open discussion (Stage 1): 7–10 days. The goal is to collect feedback, identify areas for improvement, and clarify details.

  • Technical verification: after the discussion, the final text of the smart contract code or parameters that need to be changed is formed, and an internal audit of the developers is carried out (3-5 days).

Proposal Submission

  • Once Stage 1 is complete, the user uploads a document describing the changes and the resulting code (if required) to an on-chain DAO portal (e.g., via Aragon, Snapshot + Gnosis Safe).

  • The DAO contract automatically checks the author's BAFEX ownership (β‰₯ 100,000 BAFEX). If the threshold is met, the proposal is considered "Registered".

Voting Period

  • Voting period: strictly 7 days from the date of registration.

  • Each BAFEX holder of 25,000 tokens or more can vote β€œFor”, β€œAgainst”, or β€œAbstain”.

  • Quorum threshold: minimum token participation of 10% of the total supply.

  • Approval threshold: minimum 50% + 1 of the counted "For" / ("For" + "Against") votes.

Execution

  • After a successful vote, the proposal goes into the "Pending Execution" status for 2 days (Time Lock) - protection from sudden attacks through control and the ability to cancel if critical errors are detected.

  • After 48 hours, any BAFEX holder can call the function executeProposal() in the DAO smart contract.

  • Smart contracts make changes automatically (for example, updating staking parameters, transferring funds from the fund to the grant, or upgrading the Escrow contract).

Archiving and reporting

Each proposal (successful or failed) is published to an open thread on the Governance Forum and stored in a public repository (GitHub/ODA) with a history of discussions, voting results, and links to smart contracts.

Approximate timeframes in Gantt chart format (TBD)

Step
Term (working days)
Notes

  1. Preparing a proposal

Draft in Governance Forum

7–10

Open discussion, feedback collection

Technical audit and refinement

3–5

Checking the smart contract code

  1. On-chain registration

1

Automatic token threshold check

  1. Voting period

7

BAFEX Holders Vote

  1. Time Lock

2

Protection from ill-considered changes

  1. Decision Execution

1

Launching a smart contract for implementing changes

  1. Archiving and reporting

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Publishing results in the Governance Forum and repository

Total: β‰ˆ 20-25 business days (assuming no additional delays or legal reviews).

With this time frame, we comply with the best industry practices and ensure a balance between the speed of decision-making and the quality of verification.

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