Its time for stakers to govern the DAO
A New Governing Epoch Unfolds
Thales DAO continues to make strides in its platforms — Thales, Overtime, and Speed Markets. For those who’ve kept a close eye, the team’s dedication is evident. However, if you’ve missed out on the recent progress (understandably, in today’s fast-paced world), our Thales Monthly Digests offer a quick summary of key developments:
This progress is a testament to the hard work of the Thales Core Contributors and the proactive engagement of the Thales Council in proposals and discussions. And now, we have an exciting update for you!
Ever wondered how you could contribute more directly to the growth of Thales DAO? Today marks the beginning of the nomination phase for the seventh Thales governance epoch.
Here’s what you need to know.
Nomination and Election Details
Our thriving community on Thales’ Discord is a hub of engaging governance discussions, featuring many passionate individuals eager to be part of Thales DAO’s decentralized governance
It’s now time to elect those who will represent the community in voting on protocol-level changes.
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 180 TIPs implemented.
The nomination phase for the Thales Council is already underway. Key points to note:
- The Thales Council election will be done using your staked THALES as voting power. You can vote with your staked THALES on Optimism, Arbitrum, and Base.
- Voting power can be split across multiple candidates.
- Nomination period: December 4th, 5PM UTC to December 11th, 5PM UTC.
- Voting period on Thales’ governance page: December 11th, 5PM UTC to December 18th, 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 January 1st 2023 until the end of April 2023, a 4-month period as per TIP-111.
How to Get Involved in Nominations
We invite everyone to join this process. Submit your pitch (highlighting your involvement with Thales/Overtime or your potential as a council member) along with a valid Ethereum address or ENS for voting on 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, December 11th, 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 Monday, December 11th, 2023 5PM UTC through Monday, December 18th, 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 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 December 11th (lasting until December 18th), be sure to check Thales’ governance page and cast your vote!