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Governance Framework Of MFIL DAO

This page summarize how MFIL DAO governance works.

Voting Principles

ALL voting of MIP shall use veMFD (vote escrow MFD). One veMFD represent one vote in principle. Users can vote those MIPs that they favor to make MFIL future develop to that way. veMFD can only be reward by staking MFD,and cannot be transferred or traded.

Standard MIP Processes

There are three major stages for a MIP process:

Proposal Discussion and Writing Stage

All community members can join discussion of MFIL regarding their ideas, suggestions, expectations and problems and BUGs they have when using MFIL. Any information benefit MFIL is welcomed. People can collect those information and organize them to write MIP and public it on GitHub. All MIPs shall include but not limit to following parts to ensure its reliability and are implementable: Problem Summary, Proposal Motivation, Technical Specification, Improvement Rationale, Backwards Compatibility, Test Cases, Security Considerations, Implementations Details, Copyright Waiver etc.
Join the community discussion.

MIP Publicity Stage

To ensure all community members have enough time to discuss and understand the content of each MIP to make the best judgement, all MIP will be publiced on GitHub at least fourteen days. If the MIP has material problems, it can be withdraw by the proposer to revise and public again. If no material problem has been posed to the MIP after the publicity period, it will be moved to the next voting stage.
Click here to view the MIP during the publicity period.

Voting & Snapshot Stage

To give everyone sufficient time to vote, voting period for each MIP is normally fourteen days. The voting weight of each voter is linearly related to the veMFD volume locked in the voting contract. One veMFD is counted as one vote. The final voting result is determined by the snapshot. For most MIPs, it requires at least 10% veMFD participant rate and 50% ratio of voting for favor.

Emergency Proposal

Enable only in emergency situations.
Emergency proposal can only be initial when MFIL is facing critical situation by Gov Community. It shall describe what the emergency status is, why it happened and how to solve it. As it only will be propose to solve critical and time-sensitive issues, its voting period will be around three days. The rest rules remain almost the same as the standard MIP.
Click here to view all emergency proposals.

Committee Categories

MFIL DAO is currently consisted by four committees which are DAO Gov committee,SP committee,Dev committee Eco committee.

Gov committee

Responsible for routine operation of DAO and coordinating with other communities. It will periodically report the operation status of MFIL and conduct survey and research to improve development of MFIL and better serve the participants.
Click here to see more.

Storage Provider committee

Responsible for all SP-related affairs including but not limit to design SP onboarding standards, nodes evaluation, monitor nodes operation and services that support SP’s work.
Click here to see more.

Developer committee

Responsible for all technology development related issues such as designing dev plan ,formulating dev milestone, executing proposal,auditing code, fixing BUG etc. MFIL is open for all developer to keep finetuing its technology infrustructures.
Click here to see more.

Ecosystem committee

Responsible for prospering the entire MFIL ecosystem, exploring internal & external ecosystem corporations,maintain relationship between various communities and increase the influence and branding of the ecosystem.
Click here to see more.
Last modified 5mo ago