Governance
WeatherXM Network has an on-chain governance mechanism for signaling, changing network parameters, and spending funds.
Our vision is that, eventually, many passed proposals will be executed automatically when possible. However, given that WeatherXM is a network of physical devices, interacting with the physical world, we do not expect to reach a point where all proposals are automatically executed - at least not in the near future.
Right now, in the early days of the WeatherXM Network, signaling is the only available type of proposal.
Signaling proposals are used to make an on-chain record of support or agreement on a certain topic or ideas. They do not contain any code and they do not directly cause any changes to the Network once passed. However, the General Assembly has committed to implement any signaling proposal that passes.
Proposal Lifecycle
Phase 1: Temperature Check and Formalization
The first step to making a governance proposal is to submit it to the weatherxm.network’s discussion board on GitHub: https://github.com/orgs/weatherxm-network/discussions/categories/stage-1-ideas.
A proposal may start as a simple paragraph describing an idea, but assuming there is significant interest from the community, the proposal must be formalized in a way that provides a clear path to implementation. Presenting the expected costs, benefits, implementation details or any other piece of data that will help community members to decide on the value of a proposal is very important.
Phase 2: Approval by the GA
A member of the General Assembly takes the initiative to submit the proposal for approval to the General Assembly. The proposal is marked as “Submitted to GA”.
The role of the General Assembly is to ensure that the proposal is clear, mature, well documented, and in accordance with the articles of association.
A proposal goes to the next phase if the majority of the GA members approve it.
The GA has to announce the results of the approval or rejection in no more than 14 days after the proposal has been submitted to the GA.
Phase 3: Onchain vote
The GA submits the proposal for on-chain voting at snapshot.org/#/weatherxm.eth
The submission must include the full text of the proposal and a link to the GitHub discussion where the proposal was originally presented.
Only $WXM token holders on the day the proposal was submitted are eligible to vote.
Voting power is equal to the amount of $WXM a voter holds.
The voting period is 14 days.
The quorum is 6,000,000 (six million) votes.
Token holders can vote YES/NO/ABSTAIN. Abstain counts towards the quorum.
What happens when a signaling proposal passes?
Technically, nothing happens on-chain. No code executes, and this “unenforceable” property of text proposals is one of the biggest criticisms of the format. Regardless of whether the results of a signaling proposal are enforced by code, the General Assembly has committed to honor all proposals that pass and proceed with their implementation.