An Author’s Guide to Proposals on Wrap Protocol

Wrap Governance

We want you to govern Wrap Protocol, which is why we have built a decentralized governance process for the Protocol.

Below is an explanation of the Governance Process for the Wrap Protocol and an explainer on how anyone can follow the steps of this process to bring their idea all the way through to implementation.

Any community member is welcome to propose ideas for the Wrap Protocol!

I want to make a Proposal for Wrap Protocol

Step 1: Bring your idea to the Wrap Community

The first step in the governance process is for you to inform the community about your idea for Wrap Protocol. To do so:

• Post a Heat Check on our Discourse to bring your idea to the Wrap Community. Make sure to follow the instructions outlined in the official READ ME document.
• Submit a corresponding Proposal on the WrapDAO hosted on Tezos Homebase to allow the community to vote on wether or not they would like to see this idea move on to the next stage. Refer to the Heat Check READ ME on Discourse for instructions on how to do so.

Submitting a proposal on Tezos Homebase will cost 500 $WRAP tokens, which you can buy on Quipuswap or Plenty, of which 375 $WRAP will be returned to you if the Proposal is not supported on Tezos Homebase.

Make sure you discuss your ideas with your Wrap community on Twitter, Discord & Telegram !

Step 2: Create consensus around your idea in the community

The second step in the governance process is for the community to come to a consensus on the topic you originally brought up and agree on the change that will be made to Wrap Protocol going forward. Once your Heat Check proposal on Tezos Homebase has been passed:

• Post a Proposal Discussion on our Discourse to formalize discussion around your initial Heat Check and outline the exact change you are proposing to the Wrap Protocol. Make sure to follow the instruction outlined in official READ ME document.
• Submit a corresponding Proposal on the WrapDAO hosted on Tezos Homebase. Refer to the Proposal Discussion READ ME on Discourse for instructions on how to do so.

If you have come this far and you proposal is supported by the community, congratulations!

You have successfully passed the first two stages of the Wrap governance process. We’ll send an official Bender Labs NFT to your wallet to celebrate!

Your job is done! If your Proposal Discussion is supported on Tezos Homebase, the Wrap Board will look to see it through to implementation.

Step 3: Allow the Wrap Board to determine the best way to implement your proposal

For all proposals with both supported Heat Checks and Proposal Discussions, the Wrap Board will vote to pass the proposals supported by the community and determine details related to implementation such as:

• The technical feasibility of the proposal
• The rewards issued to the author of the proposal and the developer
• Any additional bounties

Once this step is done, the Wrap Board will post a Governance Proposal directly on the Discourse to inform the community of the changes being made.

Authors of Proposals that are implemented will receive special rewards from Bender Labs!

If you’d like a more detailed overview of the Wrap Governance Process as a whole, the Wrap Board, or any other component of the process mentioned in this article, head over to our official documentation.

I want to vote on Proposals made by others

If you don’t have ideas for proposals yourself but want your voice to be heard and participate in the voting process, there are two things you can do:

Interact with Authors and Community Members

Provide constructive feedback on Heat Checks and Proposal Discussions made by authors of proposals on our Discourse. Interact with authors and other community members to improve upon the ideas they proposed originally and use the power of community to help better the Wrap Protocol!

Vote on Proposals with your $WRAP tokens

You can vote on proposals with your $WRAP tokens and express your support or opposition to a proposal on Tezos Homebase through the Wrap DAO. If you want to have a bigger voice in the voting process, accumulate $WRAP tokens by wrapping onto tezos, or buying $WRAP tokens directly on Quipuswap or Plenty!

Conclusion

We’re excited to finally host Wrap Governance so that Wrap Community members can directly propose changes to the Wrap Protocol!

If you haven’t already joined us on our socials, make sure you discuss your ideas with your Wrap community on Twitter, Discord & Telegram !