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Yapeswap DAO
Describes the proposals and voting based governance system of the Yapeswap DAO and the dividend rewards system for $veYAPE holders
Proposals
The Yapeswap Forum, in conjunction with Yapeswap community social channels on various platforms, is the foundation of the community and DAO.
The Forum is a place where DAO members can submit proposals aimed at improving Yapeswap in some way, and the community can show their support, discuss adjustments to a proposal's specifics, or speak up in opposition of a proposal. Naturally, discussion regarding active proposals will take place on the other platforms used by the DAO.
Typical proposal types include new projects funded from the Yapeswap DAO treasury and changes to the function of the protocol.
In order to post a proposal in the Forum, DAO members must hold at least 100 $veYAPE, however, anyone in possession of at least 1 $veYAPE is a Yapeswap DAO member and is able to participate in the Forum discussion and voting process. DAO members are colloquially referred to as Yapes within the Yapeswap community.
A forum proposal is eligible to be moved to a Vote once it has received 5 likes from the community, but some proposals that receive support may remain in the forum if the community is still discussing the proposal's specifics.
Voting
The Yapeswap DAO has processes in place for both off-chain and on-chain voting. On-chain voting is the preferred method of conducting votes, and off-chain voting is only used to mitigate high gas costs.
Off-Chain Voting
- Conducted using Snapshot
- Forum proposal associated with vote must be active for a 48 hour period prior to voting period commencement.
- Voting period will last 48 hours.
On-Chain Voting
- Forum proposal associated with the vote must be active for a 7 day period prior to voting period commencement.
- Voting period will last 7 days.
Receive Dividends
$veYAPE holders can claim their dividends streamed from the Yapeswap protocol. All protocol fees (0.15% of swap fee) and yields from Yearn vaults will be used to buy back $YAPE. All $YAPE bought back will be distributed to $veYAPE holders.
Last modified 4mo ago
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