Updates to Spaces and Proposals
The full article was originally published by Soonlabs on Medium. Read the full article here.
Updates to Space and Proposal Management
The Soonaverse platform’s key target is to be IOTA and Shimmer native and continue to decentralize components as new protocol features become available. There are numerous steps we still have to take, by today we’ll focus on:
This article will highlight some of the upcoming changes to spaces and proposals on the Soonaverse. Space changes will be delivered by the end of November 2022 while proposal changes will be delivered shortly after. Maybe before Santa delivers all his presents.
We’re focused on a simple solution that can be eventually expanded. Our assumption is that a token is a key utility. Eventually NFTs will be able to provide utility as well and the below solution might be expanded with it.
Proposals will now be required to confirm changes (implemented). Various changes on spaces will now require votes by other guardians (>60% of guardians). Those are:
- Adding or removing guardians on the space
- Editing the space
This means everytime above actions are triggered a new proposal will be created and it’ll require guardians to vote on it. Once the proposal reaches >60% of approval rate, the system will proceed with the change.
Of course, eventually we should enable further logic on how guardians are added/removed by members instead of other guardians initiating the process. This is a more gentle step towards it that we can deliver relatively quickly.
New membership system (in-progress). Spaces can currently be set-up in following ways:
- Open space — Anyone can join
- Closed space — New members must be approved by a guardian
We will introduce a new option. Membership requires X amount of a staked token. For someone to become a member of the space they’ll have to stake a certain amount of the space’s tokens. This will be helpful when a space wants to limited things like voting on proposals to their own community that has a vested interest.
As expected, once this option is selected, the user is no longer available to go back to open/closed space. If it’s an existing space when guardians switch to this option all existing members that have not staked the token will be removed.
XP reputation option will be removed (planned). We have seen very low utilization of this feature. There are also many concerns how this could be delivered on the L1 that we decided to shelf this feature.
We will only keep:
- Guardians vote
- Members vote
Token based voting (planned). Proposals can be created and voting is based on the space’s token. Token holders will be able to vote on the proposals. Tokens get locked until the end date of proposal via the Shimmer native time lock feature. Users vote towards an option with their tokens. To begin, they will only be able to vote on a single option and not divide their votes.
What’s cool about this new decentralized feature is that a user will be able to execute this vote even without interacting with Soonaverse if they know how to correctly specify the metadata within the transaction. The Soonaverse is merely a frontend in this case.
The Soonaverse continues to be decentralized piece by piece as planned. IOTA and Shimmer are going through exciting times, and we can’t wait to carry on contributing to the ongoing development of these networks.