PoCol Governance using FLEXE
Flex is a community-owned platform that rapidly boosts dApp user growth, ensuring the value generated directly benefits the Flex community.
The FLEXE token is a pivotal element in the governance structure of the Flex ecosystem, facilitating a decentralized and community-driven approach to managing the Proof-of-Collaboration (PoCol) mechanism. It will be used by all actors in the Flex ecosystem, including projects, validators, and the community.
Governance workflow overview:
Proposal submission:
All proposals from participants are first submitted to the Flex Discourse.org community forum.
Participants discuss, critique, and provide feedback on the proposals.
Proposals with significant community engagement and positive sentiment are flagged for progression to the on-chain voting stage.
Community sentiment analysis:
The community sentiment around proposals is analyzed using metrics such as the number of upvotes, downvotes, comments, and engagement duration.
Proposals that meet predefined thresholds for positive sentiment progress to the on-chain voting stage.
On-chain voting:
Approved proposals are submitted for on-chain voting on Flex's Snapshot.org space.
FLEXE token holders vote on the proposals, with voting power determined by the number of FLEXE tokens held and other factors like historical contributions and engagement.
Steps involved:
1. Proposal creation
Participants in the Flex ecosystem can create proposals to modify aspects of the PoCol mechanism, introduce new features, or change governance policies. Proposals must include:
Title: A concise summary of the proposal.
Description: A detailed explanation of the proposal, including its purpose, implementation plan, and expected impact.
Rationale: Justification for the proposal, highlighting the benefits and addressing potential concerns.
Only community members gain participation access to the community forum. Non-community members have an observer view only.
2. Community Forum (Discourse.org)
The community forum serves as the initial platform for proposal discussion. Key activities include:
Discussion: Participants discuss proposals, providing feedback, suggestions, and critiques.
Q&A
Engagement Tracking: Metrics such as the number of upvotes, downvotes, comments, and engagement duration are tracked to assess community sentiment.
Certain types of participants (e.g. projects, ecosystem partners) may be required to stake FLEXE tokens to be admitted into the Flex Ecosystem's community forum.
3. Sentiment analysis
A sentiment analysis algorithm evaluates community interactions with proposals to determine which should progress to on-chain voting. Key metrics include:
Support Score: Calculated based on upvotes and downvotes.
Engagement Score: Calculated based on the number of comments and the depth of discussion.
4. On-chain voting (Snapshot.org)
Flex Ecosystem's space on the Snapshot.org platform enables secure and transparent on-chain voting. Key components include:
Voting power calculation/voting strategies: Determines each participant's voting power based on FLEXE token holdings.
Vote casting: Participants cast their votes on proposals.
Vote tallying: Votes are tallied to determine the approval score for each proposal.
On-chain voting strategies' decisions will also be made by a majority consensus vote.
Typical process:
Proposal submission:
A participant submits a proposal to the Discourse.org forum. For example, a project seeking to partner with Flex for IP monetization could submit a proposal describing its IP and partnership expectations.
Community members engage with the proposal through discussions, upvotes, and downvotes.
Sentiment Analysis:
The sentiment analysis algorithm evaluates the proposal's support and engagement scores.
Proposals meeting the threshold criteria are flagged for on-chain voting.
On-Chain Voting:
Flagged proposals are submitted to Snapshot.org for on-chain voting.
FLEXE token holders vote on the proposals.
Votes are weighted based on voting power and tallied to determine the approval score.
Implementation:
Proposals with a high enough approval score are implemented.
The community is notified of the outcomes.
The proposed platforms i.e. Discourse.org and Snapshot.org are the shortlisted avenues at the date of this publication. These platforms may change, and the community will be notified of such an event.
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