How to (Properly) Submit a Proposal to the DXdao
Heard about the DXdao recently, and decided to take a gander at their Alchemy page? Since the onset of DXdao’s Continuous Token Offering, they have garnered more attention than usual. Many curious folks have entered the various communication platforms they utilize, wondering and experimenting in efforts of getting involved. This has resulted in a bit of confusion and misdirection. But truthfully, it’s not their fault! The process of involving oneself in the DXdao’s discussions is not exactly streamlined.
To illustrate this, here’s a list of some of their most active communication channels:
That’s two chat rooms, a video conference room, a forum, and a blockchain-based governance portal.
Been able to keep up? Well great! So hopefully at this point you have introduced yourself, participated in a weekly call or two, and made a few friends in this community. In fact you might just have a fantastically bright idea in mind that may benefit the DXdao’s stakeholders, moving this organization forward in the name of decentralization and financial self-sovereignty. You feel you might be ready to submit your first proposal.
There are multiple nuances to what is asked for in a proposal. It usually (but not always) comes down to three things:
- Permission to take responsibility for a particular role or objective that requires clearance from the DXdao
- Fulfillment of an objective deemed worthy of compensation
- An update to a particular aspect of the DXdao’s operations or infrastructure
Before submitting a proposal, here are some questions you should ask yourself:
“Does the DXdao know who I am?”
Don’t expect to get very far if you haven’t yet shared about yourself and why you want to be involved in this DAO in the first place.
“Am I up to date on their discussions?
While there’s a lot to keep up with, it’s important that you have an idea of what’s on other people’s minds during these conversations.
“Is what I am about to propose in the DXdao’s best interest, or mine?”
You better believe that people have already begun submitting ridiculous proposals asking for upwards of 100 ETH, while offering bribes in the Telegram group chat. Make sure your proposal has a regard for the big picture. Abuse of the governance framework is pretty easy to spot, and will be shot down rather quickly.
“Have I discussed my proposal openly via the group chats or DAOtalk.org and gotten feedback?”
It only makes sense to put this idea out there to one or more DXdao REP holders before taking the time to write a proposal and pay $4–6 in ETH gas fees. They are the ones who will end up supporting or rejecting your idea. DAOtalk.org is the #1 place to hash out your idea. If you post a mock draft and it goes well in a DAOtalk thread, chances are it will succeed in a vote on Alchemy.
Now to the fun part: Alchemy
To start your proposal, click “+New Proposal.” This is the part where you present your idea to all of DXdao’s REP holders for the possibility of executing your proposal. A majority voting for your proposal will automate the requested funding or compensation (if any) required for it. Be sure to explain clearly and objectively what it is you are asking for. Provide proof wherever possible to eliminate any need for trust that your statements are true.
If you are billing for a small project for the DXdao, take into consideration the number of hours worked, just like any normal contracting gig. But also be aware that this DAO is not quite ready to be paying six-figure salaries. Those working full-time for the DXdao are serving well below their pay grade, for the purpose of conserving the budget. You can view examples in the History, under proposals with “Development Work” in the title. If it’s related to full-time work for the DXdao, the amount of REP requested is usually 1–3%. If it isn’t, it is usually below 1%.
These are not rules per se- merely guidelines meant to help you boost your chances of writing and submitting a fair and agreeable proposal. Your proposal may fail if you are asking for too much.
Advanced Feature: There is a Boost function that lets you speed up the proposal process, as well as bet on its outcome. This feature is very commonly utilized. Boosting not only reduces the voting period, but also lets a proposal pass by relative majority. That is one of the highlights of DAOstack’s holographic consensus.
As the DXdao grows and accomplishes big feats as a fully decentralized organization producing DeFi products, the proposal process will hopefully smooth itself out. Until then, may this guide, well, guide you through your journey as a proponent of a decentralized future.
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