🗳️Governance
Goat Protocol operates as a Decentralized Autonomous Organization (DAO), empowering the community of $GOA token holders to have direct influence over the protocol's future. This decentralized governance model ensures that key decisions regarding Goat’s development, direction, and strategy are driven by the community.
Goat Governance Structure
At the heart of Goat Protocol’s governance are $GOA token holders, who collectively steer the protocol’s development. Every major decision, from system upgrades to financial allocations, is determined through community voting, ensuring that the protocol remains community-driven and transparent.
This process allows Goat to remain agile and responsive to the needs of its users while distributing decision-making power across the network rather than relying on centralized control.
How Governance Works
Governance in Goat Protocol revolves around voting on proposals submitted by the community. Any $GOA token holder with at least 1,000 tokens can create a proposal for consideration. Proposals can cover a wide range of topics, including new product launches, adjustments to fees, budget allocations, and more. Once submitted, these proposals are put to a community vote.
The voting process is conducted through Goat’s Snapshot page, a platform specifically designed for decentralized governance. Community members are encouraged to discuss and debate proposals openly in Goat’s Discord, where feedback can refine ideas before they reach the voting stage.
Voting Rights: $GOA, stGOA, and wstGOA
In Goat Protocol, governance isn’t restricted to regular $GOA holders. Both stGOA and wstGOA holders enjoy full governance rights:
stGOA represents $GOA tokens that are staked, earning part of the protocol’s revenue as rewards in ETH.
wstGOA is a wrapped version of staked GOA, earning rewards in $GOA that are auto-compounded for maximum returns.
Whether you hold $GOA, stGOA, or wstGOA, you can participate in votes and submit proposals, provided you meet the minimum threshold of holding 1,000 $GOA or its equivalent in stGOA or wstGOA.
The Role of Core Contributors
While Goat Protocol’s major decisions are made by the community, the protocol’s core contributors manage day-to-day operations. This team executes decisions made through governance, ensuring smooth protocol management and continuous development.
However, even core contributors are accountable to the community. If the community wishes to hold contributors accountable or adjust operational decisions, they can initiate governance votes to ensure alignment with the protocol’s objectives.
How to Create a Proposal
Draft your proposal Clearly outline the issue or opportunity you want to address, along with the solution or decision you’re proposing.
Engage the community Before submitting, it’s recommended to discuss your idea with the community on Goat’s Discord to gather feedback and refine your proposal.
Submit on Snapshot Once ready, submit your proposal on the Snapshot page. Define the question, set the voting options, and establish the voting time frame.
Proposals can address a wide range of issues, from strategic decisions to technical upgrades and funding requests.
Types of Proposals
Different types of proposals can be submitted, depending on the topic at hand.
Goat Improvement Proposals (GIPs) For technical improvements and updates to Goat’s infrastructure.
Strategic Proposals For high-level decisions, such as new product launches, partnerships, or marketing strategies.
Funding Requests Requests for treasury funds to support projects, events, or initiatives that contribute to the growth of Goat Protocol.
Goat Signaling Proposals (GSP) Non-binding votes used to gauge community sentiment on future decisions or upcoming opportunities.
How to Vote
Once a proposal is submitted, $GOA, stGOA, and wstGOA holders can cast their votes on the Snapshot platform. Here’s how the process works:
Connect to Snapshot: Head to Snapshot and connect your wallet.
Review the proposal: Read through the details and decide on your voting position.
Cast your vote: Select your preferred option and submit your vote through a simple wallet signature. There are no gas fees for voting.
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