Maple has formalized a robust governance process to empower participants and foster the growth of the Maple DAO. This significant update marks a crucial step towards creating a dynamic DAO where ideas thrive and aims to encourage numerous proposals and collaborative efforts to enhance the existing protocol infrastructure.
Maple launched in 2021, with a white paper and an MVP. In that time a total of 8 MIPs have been passed using Discord to vote and quorums reached by number of individual wallets. At the same time, the Maple protocol has scaled and matured to be a central part of Web3 capital markets with best-in-class purpose built blockchain technology.
The approach to governance should be a reflection of how the protocol operates; measured, accessible, high-quality, rational, adaptable and built for the long-term.
The governance process update, outlined comprehensively in a dedicated document, serves as the primary reference for matters related to Maple DAO governance. The document details all Maple DAO participants and their roles and responsibilities, alongside the approach and technology used for proposing projects and making and enforcing decisions for the Maple protocol.
The Maple DAO approach to governance does not reinvent the wheel and much of what you see is inspired by commonplace approaches adopted by established DAOs ensuring familiarity and coherence within the ecosystem. Notably, the framework provides a sturdy foundation for protocol participants to contribute, adapt, and develop over time.
Key elements of the Maple DAO governance, as detailed in the document, include:
- Introduction of Maple DAO Principles.
Shared principles, such as collective action, accountability, and transparency, underpin the operation of Maple DAO, fostering a united and purpose-driven community.
Defined roles and responsibilities for Maple DAO contributors.
Clear delineation of responsibilities enhances collaboration and productivity among Maple DAO contributors. Participants are categorized into Maple Community, Maple Core Contributors, and the Maple Council, each with specific roles aligned with the Maple DAO Principles.
The establishment of a Maple Council.
The Maple Council, comprising initial members from Maple Investors and Advisors, assumes responsibilities such as reviewing initiatives, voting on proposals, and approving grant requests. The Council’s composition is expected to evolve over time.
- The implementation of new software for consultation and voting and associated quorums and pass rates.
The adoption of Discourse and Snapshot platforms replaces the previous Discord voting system. Snapshot, with a quorum requirement of 5% circulating supply and a simple majority pass rate, is where all MPL and xMPL holders can vote on all MIPs. On Discourse, all legacy MIPs and conversations have been organized and a new transparency and accountability thread developed where confidential decisions, Treasury updates and performance will be shared.
The establishment of a MIP template.
A standardized template streamlines the submission process, offering clarity and ease for proposal creators.
Implementation of Grant Request process and Grant Request template.
Maple Core Contributors can request operating expense grants on a quarterly basis. These requests follow a structure similar to MIPs and are reviewed and approved or denied by the Maple Council within a two-week timeframe.
With the implementation of this enhanced governance process, Maple DAO demonstrates its commitment to a measured DAO development. By fostering an inclusive and collaborative environment, Maple invites participants to contribute their ideas and collectively shape the future of the Maple protocol.