Linear Finance
Published in

Linear Finance

Linear Council Epoch 2 Process

Dear Linear Community,

We are nearing the end of the first Linear Council epoch and are in the midst of opening up the second LC election.

With that in mind, LC member JPR (Discord: JP | DAO Council) has prepared the following post to guide users through the process:

As we approach the end of the first epoch of our DAO, we look to the re-election and the opportunity for newly elected members of our great community to join the Linear Council.

The Linear DAO is still in its infancy as we come to the end of this initial 3 month period, and what a great start we have had. We have voted on 3 new listings and have created much debate on the roadmap for DAO-driven change in the coming months and years. We are forming a truly awesome and decentralized ecosystem.

The Linear governance model is set up with the following goals in mind:

  • Allow the community to propose and drive changes to the protocol
  • Enable the community to influence and shape the future of the protocol
  • Ensure the health and long term growth of the protocol

The Linear Council is the governing council composed of community members who are heavily invested in the Linear Ecosystem and its future. The Linear Council is responsible for overseeing the DAO and ensuring it runs smoothly in representing the community. It also acts as a gatekeeper for the protocol and can veto any Propositions that might be detrimental to the Linear ecosystem.

For this upcoming epoch, we want to assign 5 members to the DAO, we feel that this is the ideal number to distribute responsibilities within the council.

To nominate yourself you will follow a similar process as the first election:

There will be a one-week period from today, April 14, until April 21 at 16:00 UTC for the community to nominate any members by creating a topic with the following format on the Linear DAO Forum [LC Candidate Nomination]:

Title: “LC Nomination: {LC role} — {candidate name} — {summary line}”

Content

  • Who — Brief introduction
  • 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

The current 4 council members will all automatically be up for re-election so we are looking to gather a further 3 community members from the forum to go to Snapshot. The 7 nominees will then be voted upon to achieve the top 5 newly or re-elected council members.

  1. By the end of the nomination period, the pDAO will gather the top 3 nominations from the forum (by topic likes and engagement) as voting choices and invite them along with the 4 current LC members to post their application to Linear Finance Snapshot.
  2. Voters will then proceed to vote on Snapshot.
  3. By the end of the voting period, the top 5 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.

Please note that we are looking for heavily invested community members, each nominee will need to process their own snapshot, this requires a minimum of 500k LINA and includes STAKED and LOCKED LINA tokens.

Snapshot voting will be open from Friday, April 22, and have it run for one week until Friday 29.

Linear Council members for the second epoch will be announced on Monday, May 2nd. Both LC and the core team have decided that moving forward LC epochs will run for 6 months instead of the initial 3-month period.

Good luck to all!

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

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store