Introducing OIP-22, the OlympusDAO policy framework
We’re renewing our focus on policy & governance at OlympusDAO, and are asking the ohmies to discuss and vote on a framework for how the Olympus policy team operates. The poll below is informal: if approved here, this proposal will then be posted to Snapshot.
Because DAOs are by definition decentralized, it’s important that the community behind a DAO make all key decisions. At the same time, as a DAO grows and its operations become more complex, the community may wish to delegate minor or technical decisions to specialized teams, so that the average community member isn’t overwhelmed by relentless voting on matters they might lack the time, interest or technical expertise to carefully consider.
Olympus is — and will always be — a community-run DAO in which key decisions affecting the protocol are made by the community of sOHM holders. The policy team exists to implement the community’s decisions through a number of tools, the effective use of which often requires both speed and technical knowledge.
For any DAO, it can be hard to determine where to draw the line between decisions the community itself must make and decisions the community should delegate to its specialized teams. However, we think it’s crucial for the ohmies to clarify these rules now to maintain a healthy alignment of expectations among our growing community.
In this spirit, we’re presenting the ohmies with OIP-22, a framework distinguishing (1) key policy decisions that require a community vote from (2) technical levers that the policy team uses to implement community decisions, as well as manage and ensure the ongoing health and stability of the protocol, in which case the policy team should act with autonomy.
As part of OIP-22, we suggest standardizing the format for the community to review, approve and visualize the parameters the policy team is required to follow in its day-to-day operations, such as the current reward rate, approved bond types and target treasury allocations. The proposed format is annexed to OIP-22 and contains the policy team’s current proposals for each of the applicable parameters. In the future, when the policy team proposes adjustments to these parameters, the proposals will be presented in this same format.
Thanks in advance for reading and commenting on OIP-22.
OIP-22: Policy Framework
Summary:
Adopt a framework distinguishing (1) key policy decisions that require a community vote from (2) technical levers that the policy team uses to implement community decisions, in which case the policy team should act with autonomy.
Motivation:
Olympus is a community-run DAO in which key decisions affecting the protocol are made by the community. The policy team implements the community’s decisions through a number of tools, the effective use of which often requires both speed and technical knowledge.
On the one hand, it is critical that the community is broadly aligned on key decisions. On the other hand, we believe it would be a mistake to require constant community votes on more technical questions, particularly when these technical questions arise in implementing decisions the community has already made.
This proposal presents a basic framework to clarify when the policy team may take action to implement community decisions, and when it must seek specific authorization.
Proposal:
We propose adopting the table below as a general framework to clarify when the policy team should take action to implement community decisions, and when it must seek specific authorization.
Because it is difficult to predict in advance every technical policy issue that may arise, the following list is not intended to be exhaustive. Rather, it should serve as a living document to help everyone in the community understand how decisions are made.
Background on the policy team
The policy team is composed of members of the Olympus community who have displayed sufficient knowledge of the protocol and curiosity to continue to learn as the protocol grows in size and complexity. Abipup and Sh4dow lead the team. For more information, please visit us in the #policy channel of the Olympus discord.