Write a Proposal

About

This guide describes how to get started with writing a governance proposal, firstly on the forum followed by a proposal on Snapshot (off-chain) or Tally (on-chain).

Step-by-step

The Request for Comment (RFC) section on the forum is the first step in creating a governance proposal. Head over to the RFC section on the Euler Governance Forum to create a new proposal. Make sure it’s well-formulated, be proactive with the community, engage with their comments, and be open to suggestions.
For consistency, the following proposal structure is advised:

Proposal Structure

  • Title: [Enter Proposal Title]
  • Author(s): [enter name(s) of associated authors]
  • Related Discussions: [paste link here]
  • Submission Date: [Enter Date]
Body Paragraphs/Sections:
  • Simple Summary: Give the community a TL;DR on your proposal; no more than 2-3 sentences.
  • Abstract: Introduce and expand on the proposal. Highlight key points on how the proposal will improve stakeholder/token holder experience, protocol performance, and the overall implementation process.
  • Motivation: What problems will this proposal address/solve? What’s the value-add?
  • Specification: Answer key relevant question to the protocol.
  1. 1.
    What is the link between the eIP author and the asset?
  2. 2.
    Provide a brief description of the asset
  3. 3.
    How is the asset primarily used?
  4. 4.
    Explain why the eIP would benefit Euler’s ecosystem?
  5. 5.
    Where does the asset trade?
  6. 6.
    What are the volumes and market capitalisation?
  7. 7.
    What is the liquidity like in the Uniswap V3 liquidity pool versus ETH?
  8. 8.
    What security/auditing reports have been done?
  • Implementation: Present the implementation of the proposal using proposal transaction generation tool.
  • Risk Assessment: Give evaluation of the risk parameters involved with the proposal
  1. 1.
    Oracle grading
  2. 2.
    Decentralisation
  3. 3.
    Volatility
  4. 4.
    Liquidity
  5. 5.
    Smart Contract Risk
  • Voting: Define what a “yes” and “no” vote entails. If there are any Snapshot votes or forum polls associated with this proposal, please attach them.
  • Relevant Links: If you used Euler’s oracle grading tool or other tools/references please add it here, eg. ‘Oracle grading tool: https://oracle.euler.finance/
A good governance proposal example can be found here: eIP: Promote WBTC to collateral tier
2. Governance Proposal (on-chain or off-chain)
If the RFC is well-formulated and the community has a clear understanding of the proposal and supports your RFC, it will be moved by a mod to the governance category as an eIP: Euler Improvement Proposal. Please note that it usually takes a week (7 days) for a proposal to be moved from RFC to the eIP stage. Once an eIP has been assigned, the proposal can then be created on Snapshot or Tally using this eIP.
A Snapshot or Tally proposal does not always need to be posted by the original eIP author, it can be posted by someone else or one of the delegates in case the minimum threshold of EUL is not being met. The proposal on Snapshot or Tally should always have the link to the eIP attached. The parameters of the poll (Yes, No, different options for values) need to mirror the options discussed in the eIP.
Proposals that are rejected due to invalidity or insufficient support can be resubmitted. Approved proposals with sufficient support via governance/voting will be implemented by the Euler Foundation.

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Proposal Structure