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RARI Foundation Governance Process Guide

UpdatesJanuary 28, 2023

This article is a work-in-progress and will be changed and completed. We highly appreciate any feedback: if you know what will make this guide better, please let us know on RARI Foundation Discord #chat!

RARI Foundation has entered 2023 as an active DAO with a vibrant community: through voting, veRARI token holders approved the operational budget for the year and funded Rarible Twitter bot that will be built with Rarible Protocol. And this is just the beginning.

Do you have an idea that you think would benefit the Rarible ecosystem? This article will guide you through the entire process from submitting your proposal to seeing your idea brought to life.

Step 1. Turns your idea into a formal proposal text by using our template

Proposals are technically legal documents, they need to follow a specific format: abstract, motivation, rationale, key terms, specifications, steps to implement. Here’s what each of these parts mean:

Abstract: you can think about this as a TL;DR (“too long; didn't read”) or a very short pitch of your idea. This part of your proposal can be as short as one or two sentences – make sure you include the most important thoughts.

Motivation: This part should focus on the value that your proposal would bring to the community and overall ecosystem if approved. Think about how your idea could benefit the community long term, and why would voters be motivated to approve your proposal?

Rationale: As defined in Oxford Dictionary, rationale is a “set of reasons or a logical basis for a course of action…”. In practice, this is the part that will convince the community if it’s a yay or nay! Provide all the best reasons why what you are offering is a good idea. Get as specific as possible. If the proposal involves funding of your idea, consider providing your experience and qualifications that will be convincing to the community.

Key terms: This part is optional. If you think that your proposal has some terms that will not be clear to the general public, please list them here and provide brief definitions.

Specifications: Here is where all the details and numbers come in. What is the exact timing of the activity you are proposing? What are the deliverables? This part will vary for different proposals. Approach it as technical specifications or statement of work you will include in a contract in the “default world.” Tables, graphs and images to support your idea are welcome.

You can find an example of a successful proposal here.

Step 2: Post Proposal of Foundation Forum for 7 days

Now that you have the text of your proposal, post it on https://forum.rari.foundation, where it will be up for 7 days before being put on Tally. Collect feedback and chat with the community, see what they have to say! It’s also a good idea to attend a community call and present your proposal there.

Step 3: Post your proposal on Tally

You’re almost there! Head over to https://www.tally.xyz/gov/rari-foundation, connect your wallet and click “Create new proposal”.

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Pick “On-chain” and make sure that you check all the boxes you need to get going.

Important: to create a proposal, you need 5,000 veRARI (owned or delegated). If you don’t have this amount, don’t worry – you can collaborate with a delegate who can do this on your behalf. You can read more about how the RARI delegation program works here.

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Name your proposal and optionally add an action (an on-chain tx such as spend money or upgrade contract). Preview your proposal and submit!

Step 4: Voting for 5 days

During this step, the community has 5 days to vote for, against or abstain from voting. For any decision to be executed, 10% of all veRARI quorum must be reached.

Don’t just wait to see what happens – active involvement in the community will make sure that you got your message out there and attracted the voters attention. RARI Foundation team is here to help you with it.

Step 5: Lockup for 2 days

This time is needed for additional due diligence. Illegal proposals can be vetoed by Director.

Step 6: Automatic execution

Congratulations! Watch the impact your participation makes on the community and start preparing your next idea.

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