Linear Finance
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Linear Finance

Linear Council Election Process

Dear Linear Community,

We are pleased to announce that we are one step closer to introducing the Linear DAO to the community. A key element of the Linear DAO will be the creation of the Linear Council (LC), which will consist of 7 community members to serve as the governing council overseeing the DAO and ensuring it runs smoothly in representing our community.

The Linear Council will act as a gatekeeper for the protocol and will have the ability to veto any propositions that might be detrimental to the Linear ecosystem. The LC will be paid a stipend by the Protocol DAO (pDAO) for their services to the Linear DAO.

A dedicated category will be created in the Linear DAO Forum for “Linear Council Candidate Nomination”. Each Linear Council epoch will be three months.

Suggested roles

Please find below a list of recommended roles for the Linear Council members. Note that this is merely a suggestion and that the LC is welcome to set different positions and organize themselves accordingly providing they keep the Linear community up to date.

  1. President that oversees the council and DAO efficiency
  2. Technical Lead that works with pDAO to evaluate technical feasibility and drive for approved proposition implementation.
  3. Listing Lead that researches new assets and coordinates listing/delisting.
  4. DeFi Lead that explores new and current trends.
  5. Community Lead that represents the voice of the community and works closely with our Linear Admins.
  6. Business Lead that focuses on the proposition’s financial impact and tokenomics (if any).
  7. Treasury Lead that works with pDAO on proposition grant/reward distribution.

First Election

There will be a two-week period for community members to nominate any members by creating a new topic on the Linear DAO Forum.

Required Format

  • Title: “LC Nomination: {candidate name} — {summary line}”.
  • Who — Brief introduction including Discord and Telegram usernames.
  • What — Contribution to Community (Past & Future).
  • How — Relevant Skills or Background on how to drive DAO and Linear to greater success.
  • Any other related campaign pitching material or info.

Process

  1. By the end of the nomination period, a “ℓIP: Linear Council Election” will be created by the pDAO to gather the top nominations from the forum (by topic likes) as voting choices.
  2. Voters will then proceed to vote on Snapshot.
  3. By the end of the voting period, the top 7 voted candidates will become the LC members.
  4. The pDAO will announce the LC in a blog post and introduce the LC members to the community.

Re-election

Two weeks before the end of each epoch (3-months), the Linear Council will host the re-election process and nominations will be opened to the community. By the end of the nomination period, the LC will gather the top new nominations from the forum and together with the existing 7 LC members to form the voting choices of the Linear Council proposition.

Regular Community Governance Calls (TBC by DAO)

Hosted by the LC every month to provide an overview of DAO’s work and a transparent environment for community members to express opinions directly.

Proposition Evaluation Calls (TBC by DAO)

Hosted by LC for applicable propositions (determined by the LC) to discuss with the pDAO and the proposer on feasibility, priority, and resources allocation of the proposition.

Final Thoughts

We will continue to offer weekly updates on all matters related to the Linear Governance Model and its progress. Next week we will release a more detailed look into the Linear DAO Forum on Discourse.

Thanks,

Linear Finance Team

About Linear Finance

Linear Finance is a cross-chain compatible, decentralized delta-one asset protocol that allows users to get synthetic exposure to various assets, including cryptocurrency, commodities, and market indices. Users can utilize our cross-chain swap functionality to instantly swap assets across leading blockchain environments and DeFi protocols with unlimited liquidity and zero slippage.

Website | Exchange |Discord | Twitter | Announcements

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