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EffectDAO Proposal System is now LIVE on EOS Mainnet

We are excited to announce that one of the core components of the EffectDAO has just been launched on EOS Mainnet. A few weeks ago our trusted CTO Jesse Eisses outlined what to look forward to in this release with a Medium post entitled The EffectDAO Voting: Adapt to Survive. And now we can see how it looks and how it works.

DAOs and distributed organizations rely heavily on the contribution of its members. A key method that allows its members to add value to the network and decide what is important to the project as a whole is a proposal system. A proposal system can cover a wide range of valuable contributions in a variety of subjects such as marketing, technical development, governance, or design to name a few.

The release of the Effect Proposal System truly brings us one step closer to being a globally connected project where all potential is possible and can be put into action. Let’s take a quick look at how to review proposals and then walk you through how to make a proposal.

Reviewing Proposals

The gateway to the EffectDAO is the Effect Dashboard. On the Dashboard, you will find a new tab in the menu called Proposals.

Here you will find all proposals that are actively up for vote, pending the next voting cycle, and even all the draft proposals that are being worked on. By clicking on any proposal you will be able to see the details of that specific proposal.

Proposals and how they are initiated are done in cycles. Cycles are 14 days in length. The first 11 days of a cycle are for voting and the remaining 3 days for authors of rejected proposals to edit based on the feedback of voters. Being there are 14 days per cycle gives a total of 26 cycles in a year. The very first (Genesis Cycle) will go live on January 1, 2021, at 12:00 (noon) UTC. You will be able to draft and submit proposals starting right now to get it in for the Genesis Cycle.

Life Cycle of Proposals

  • An Active proposal means a proposal that has been submitted and is part of a current cycle. In the current cycle Guardians and EffectDAO members can vote on if they accept and approve the proposal. Active proposals cannot be edited once they’re live within a cycle.
  • A Pending proposal is a proposal that is submitted for a future cycle. In most cases, we assume it will be Pending for the next upcoming cycle. You can still edit pending proposals.
  • A Draft proposal is one that is being worked on. A nice feature here is that members can see the progress as the proposal is being written by its author.
  • Closed proposals are those that were voted on, passed, and approved.

In the list of proposals, you can click on any proposal to see the details that have been included.

  • Using the example below we can see the key information of a proposal. At the top, we have the title “Proposal Template”.
  • Below the title is the category “Other”. The Effect Proposal System will start with 4 categories: Technical Development, Marketing, Design, and Other. We will also add Governance proposals in the very near future.
  • Next is the body of the proposal where the issuer will list all the details they feel is necessary to convey.
  • To the right, you can see the box titled Information. Here you find the author account name, the amount of EFX, NFX, or other currency the author is requesting to complete this proposal, and finally the IPFS Hash to the proposal.
  • Below this box are the voting Results which will go live in the Genesis Cycle.

Creating a Proposal

Not sure if there is a proposal system easier the this one… Let’s go step by step

  1. Click on New Proposal

2. Give your proposal a title

3. Fill in the description field. You are going to want to be very detailed in your proposal to increase the chances of successful approval. A proposal template is already live with suggested fields that can help you draft the proposal.

4. Attach any supporting documents if required.

5. Input the desired Reward for your proposal in EFX. Other digital currency options will be added in this field soon to represent DAO earning from other initiatives ;) Along with Reward, you will select the Category type of proposal. Technical, Marketing, design, or other.

6. Once you are finished you press Save Proposal. Saving puts your proposal in Draft mode for you to be able to make edits or submit to the next cycle.

Note: There is a cost of 100 EFX to submit a proposal. This ensures that people do not spam the system with several proposals and gives confidence that the author is serious about the proposal. It’s also important to note that a proposal can be edited or even completely redrafted if it is rejected in a cycle. This gives authors a chance to amend their proposals based on feedback and resubmit.

So Much More…

There are too many parts of this release to place in a single blog post. That being said, we will do a live walkthrough of the EffectDAO with a special emphasis on the proposal system this Friday, December 4th at 11:00 am CET. This live walkthrough will be followed by an AMA to cover questions specifically related to the EffectDAO. As each release is a very complex labor of love, we understand that there are many details of the DAO still lost in translation. With this special DAO edition of the AMA, we will answer and address each and every question, comment, and concern you may have in relation to the EffectDAO.

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Thanks for reading

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Chris | Effect.AI

Shaping the Future-of-Work through blockchain. Work from anywhere at any time and open for anyone. $EFX