Election time for THALES stakers: Choosing the next Thales Council
Thales DAO ain’t stopping
If you’ve been following closely the latest developments on Thales, Overtime, and the soon-to-be-launched Speed Markets platforms you know we’ve been busy building.
In case you haven’t been able to follow this progress (we understand, it’s a busy world), we’ve started the Thales Monthly Digests, summarizing all the most relevant developments to be consumed in just a few minutes.
You can check those here:
And this has been possible not only because of Thales Core Contributors' work, but also because of the Thales Council's active involvement in proposals, discussions, and iterations along the way.
This leads us to today’s announcement.
If you were wondering how could you directly contribute to Thales, Overtime, and Speed Markets’ next steps, then this announcement is for you!
Today, we are officially kicking off the nomination period for the sixth Thales governance epoch.
Let’s unpack what this means and how can you participate.
Nominations and elections period
We are loving the engagement we are having in day-to-day governance discussions carried on Thales’ Discord with many talented and passionate individuals willing to participate in the decentralized governance process of Thales DAO.
Now it's time to elect those who will officially vote on all the protocol-level changes suggested by the Thales community.
If you need a brief reminder about how Thales governance structure works you can check this, and if you only need a reminder about the Thales Council duties just read below 👇
As a reminder, the Thales Council’s principal duties are to approve protocol-level changes to the Thales-market codebase. This changes are introduced as TIPs (Thales Improvement Proposals), and as of right now we’ve got more than 150 TIPs implemented.
Today, we are announcing that the nomination period of this governance epoch for the Thales Council is already live.
Some important points to highlight:
- The Thales Council election will be done using your staked THALES as voting power. You can vote with your staked THALES on Optimism and Arbitrum.
- The voting power can be distributed among more than one candidate.
- First, there will be a nomination period where everyone is welcome to pitch in Thales Discord, from August 17th 5PM UTC, until August 24th 5PM UTC. (Direct links to specific channel for nominations a few paragraphs below 👇)
- After that, the voting period will start on Thales’ governance page, from August 24th 5PM UTC until August 31st 5PM UTC.
- The number of Thales Council members is 7, as a tribute to the “Seven sages of Greece” (Thales was one of the seven sages).
- The governance epoch for the new Councils will be from September 2023 until the end of December 2023, a 4-month period as per TIP-111.
How to participate in the nominations?
We are welcoming everyone to participate in this process by submitting a pitch (you could expand on your involvement with the Thales/Overtime community or why you think you’ll make a great council member, for example) and a valid Ethereum address (or ENS) that’s gonna be used for voting on the TIPs (Thales Improvement Proposals).
So, where to nominate?
For the Thales Council election:
👉 Please post a message with your pitch on our dedicated Discord channel #thales-council-nominations.
The nominating period has begun and new nominations are considered valid until Monday, August 24th, 2023. The cut-off is 5PM UTC.
Each Thales Council member will be eligible for a 3,000 THALES stipend per month, continuing the initiative by the ThalesDAO to maintain incentivized participation.
Some basic guidelines:
- Anyone can self-nominate
- Anyone can ping or tag anyone else for them to nominate themselves. Sometimes intelligent and productive people need a friendly push.
- An individual retains the right to not nominate themselves after being pinged or tagged by someone else.
- Candidates must have a valid pitch on #thales-council-nominations, even if it’s a one-liner.
- We’ll keep track of all nominees in #thales-council-pitches
After the nominations period ends, voters will have from Thursday, August 24th, 2023 5PM UTC through Thursday, August 31st, 2023 5PM UTC to cast votes and elect the new Thales Council.
So, what to do now?
If you feel that now it’s the best time to put yourself in a position to directly influence and potentiate the future of Thales protocol (and the products built on top like Thales markets, Overtime, and the upcoming Speed Markets), then by all means nominate yourself here or nudge someone to make the jump into decentralized governance.
As a THALES staker you’ll probably want to start reading the Thales Council nominees’ pitches here in advance so that when it’s time to vote you can have a clearer picture of which candidates to support.
And when the time comes, on August 24th (lasting until August 31st), be sure to check Thales’ governance page and cast your vote!