Week of August 29, 2022
Summary
We’re nearing the end of Voting Cycle #5, and ramping up for Voting Cycle #6. Remember that the new proposal template is now in effect, as are the new procedures outlined in the updated Operating Manual.
Proposals
There are five proposals up for voting in Cycle #5, which ends this Wednesday, September 7 (7PM GMT). Each one is for a Governance Committee; the top four Governance Committees will begin their work with Voting Cycle #6 — later this week!
- DeFi Committee [Group A]
- DeFi Committee [Group B]
- DeFi Committee [Group C]
- Tooling & Infrastructure Committee [Group A]
- NFT & Gaming Committee [Group A]
There’s still time to vote on Snapshot or on Boardroom.
Over 9,000 wallets have voted for each proposal so far 
A new proposal rhythm will begin with Voting Cycle #6, following a three-week pattern as described in the Operating Manual:
- Week 1: proposals labeled [Draft] are posted in the forum for community feedback (there’s also a dedicated temp-check channel in Discord).
- Week 2: Delegate feedback. Two delegates with >0.5% of the current votable token supply must explicitly indicate approval of a given proposal in the relevant discussion thread in order for the proposal to move to the Voting Cycle Roundup thread in the forum.
- Week 3: Voting. Proposals in the Voting Cycle Roundup thread that meet the above requirements will be moved to Snapshot for voting.
As per the Operating Manual: “Each ‘week’ runs from Wednesday at 19:00p GMT (12p PST) until Tuesday at 19:00 GMT (12p PST).”
The quorum threshold for Governance Fund (Phase 1) is now 30% of votable $OP supply.
The approval threshold is 51%.
Provide your feedback on Governance Fund proposals being drafted for Cycle #6.
In Discord
Given the high number of delegates implicated in the Governance Committee proposals for Cycle #5, Reformed_Normie asks whether “abstain” votes count towards quorum. @diligit pointed out in the forum that the answer should be specified in the Manual.
In the Forums
Soulbound badges in Optimism? @0xbendo (from Otterspace) makes the suggestion.
This recalls the “crown for delegates” discussion — an idea to make it clear which forum participants are delegates with >.5% of voting power.
See recent updates from @Bobbay_StableLab and @GFXlabs in the collection of delegate communications threads.
On Twitter
@linda put up a poll asking whether DAO delegates should vote on proposals when there is a potential (disclosed) conflict of interest, and then observes some of the possible drawbacks to abstaining.
Boardroom spoke with @fig and @GFXlabs about their proposal for a DeFi Governance Committee in the latest Roundup (brief proposal discussion begins around minute five).
Governance Calls
Discussion of governance committees was the main feature of last week’s call. Notes and a link to the recording can be found here.
Join the next call on September 13 (5PM GMT, though that may change).
Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom