BAG token holders can help shape the ecosystem's future by proposing and voting on key decisions. Simply hold BAG in your wallet to participate, no staking or further action is required.
Instead of a central authority, voting power is distributed across all token holders and everyone has a say in the decision-making. Your voting power is proportional to the amount of BAG tokens you hold.
Governance Proposal Process
For an idea to be implemented, there are three phases in the process:
Phase 1: Forum Discussion
Phase 2: Proposal Submission
Phase 3: Proposal Voting
Phase 1: Forum Discussion
Join Discord to discuss proposals in the governance channel or post ideas in the governance forum.
To discuss in the channel: you'll need to hold a minimum of 800 BAG.
To make a forum post: you'll need to hold a minimum of 80,000 BAG.
Before submitting a formal proposal, it’s recommended to post your idea to gauge interest and gather feedback.
Phase 2: Proposal Submission
After gathering initial feedback, you can submit your proposal on Snapshot.
To submit a proposal, you must hold a minimum of 800,000 BAG. If you don’t have enough BAG then another community member can submit it on your behalf.
Proposals are recommended to follow this format:
Title: A short, clear, descriptive title.
Background: Information on why the proposal is needed.
Proposal: Details of what you’re proposing.
Rationale: Reasoning for the proposal and the intended outcome.
Here’s an example template that you can edit to create a correctly structured proposal.
You’ll also need to set a voting period when submitting your proposal. A typical voting period is 5 to 7 days.
Phase 3: Proposal Voting
All voting takes place on Snapshot. Proposals are passed by a majority vote with a minimum threshold of 80M BAG.
Community members may vote themselves or delegate their voting power to another person of their choice. To delegate your voting power, check out Snapshot’s guide.
