Proposal Types

Proposal Types

Within the BETChain framework, proposals are categorized into distinct types to enhance the governance process and facilitate effective decision-making. These categories streamline the organization of proposals for voter consideration and establish specific voting requirements, including quorum and threshold percentages for different actions. Each proposal type is crafted to address various aspects of ecosystem governance, project development, and operational adjustments. Below is a structured explanation of each proposal type within BETChain.

1. Grant Proposals

   • Purpose: To fund initiatives that enhance the BETChain ecosystem, attract new users, or improve transaction processes.

   • Description: Grant proposals request financial support for projects requiring resources such as personnel, marketing, and operational costs. These proposals detail the project's goals, expected impact, and a comprehensive budget.

   • Example Scenario: A developer proposes a project to create a new decentralized application on BETChain, requesting a specific amount of tokens to cover development, marketing, and launch expenses.

2. Decision-Making Proposals

   • Purpose: To make strategic choices regarding the network's technical, business, or operational direction in alignment with BETChain's roadmap.

   • Description: These proposals do not involve funding but focus on significant decisions impacting the network's future. A clear outline of the proposed idea, its benefits, and alignment with network goals is required.

   • Example Scenario: A proposal suggests an upgrade to the network’s protocol to enhance scalability, detailing the technical changes and their anticipated benefits.

3. Updating Voting Periods

   • Purpose: To modify existing voting periods to better suit the operational needs of the BETChain DAO or to reflect changes within the ecosystem.

   • Description: This category of proposals aims to adjust the timelines for voting on proposals, ensuring a governance process that remains flexible and responsive to community needs.

4. Update Voting Settings

   • Purpose: To alter governance parameters, such as quorum and pass rate, for each community within BETChain.

   • Description: These proposals seek to refine the governance process by adjusting criteria for proposal approvals, enhancing system efficiency and reflecting evolving community requirements.

5. Judiciary Replacement

   • Purpose: To update the wallet addresses of judiciary members within BETChain's governance structure.

   • Description: Proposals in this category address changes in the judiciary committee's composition, ensuring that governance remains with trusted and active community members.

6. Changing Proposal Costs

   • Purpose: To adjust the costs associated with submitting proposals within the BETChain framework.

   • Description: This involves modifying the financial requirements for proposal submissions, potentially to encourage greater participation or maintain the quality of proposals.

Execution of Proposals by the DAO Treasury in BETChain

When a proposal within the BETChain framework meets all necessary criteria—achieving the required quorum and pass rate during voting—it advances toward execution, especially for proposals involving financial transactions or allocations from the DAO Treasury. This execution phase is crucial for bringing approved proposals to fruition and entails the transfer of funds or resources as specified in the proposal. The process is governed by predefined protocols to ensure transparency, security, and alignment with community decisions.

Steps for Proposal Execution by the DAO Treasury

1. Verification of Approval: The initial step involves confirming that the proposal has been approved according to voting criteria, including meeting the required quorum and achieving the specified pass rate. This verification is typically automated through BETChain’s smart contracts.

2. Preparation for Execution: Once verified, the BETChain team prepares for the execution of the approved proposal.

3. Execution of Financial Transactions: For proposals requiring financial allocation, the DAO Treasury executes the necessary transactions, which may include:

   • Transferring Funds: Direct transfers of tokens to the parties or projects outlined in the proposal.

   • Smart Contract Interaction: Engaging with smart contracts to allocate funds or support development initiatives.

4. Automated and Secure Process: The execution process is automated via smart contracts to minimize human error and ensure security. These contracts are programmed to execute transactions precisely as specified in the approved proposal, adhering to the DAO's governance protocols.

5. Transparency and Traceability: All transactions executed by the DAO Treasury are recorded on the blockchain, providing a transparent and immutable record. This traceability allows community members to verify the execution of proposals and the proper allocation of funds.

6. Post-Execution Review and Reporting: After execution, a review ensures that funds have been allocated as intended. The results, along with details of executed transactions, are reported back to the community, maintaining transparency and accountability.

Importance of the DAO Treasury in Proposal Execution

The DAO Treasury plays a central role in executing financial proposals within BETChain, acting as the custodian of community assets and the executor of collective decisions. Its role ensures responsible management of the DAO's financial resources and alignment with community objectives, reinforcing the principles of decentralized governance.

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