It’s election time for THALES stakers: Thales Council & Oracle Council

Times to build, times to participate

As of late, the Thales Core Contributors have been shipping updates and releases like there’s no tomorrow: From a fresh referral program, a new DeFi primitive with Ranged markets, to multi-collateral for AMM usage, to name a few 💪.

But today we are gonna talk about something different. Something where you (yes, you!) can start supporting Thales by directly participating in their governance bodies.

Today we are kicking off the nomination period of a new governance epoch for both Thales Council and Oracle Council.

Thales Council representation, by Kristina.

Let’s dive into this!

Nominations and elections period

We’ve been thrilled with the engagement we’ve got in past elections for both Thales Council and Oracle Council.

Many people put up their candidacy and were willing to participate in the decentralized governing bodies of Thales.

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 50 TIPs implemented.

Oracle Council’s principal duties are to govern the Exotic Markets platform, resolve raised disputes, and maintain the guidelines for market creation. You can read all the details in TIP-35

Oracle Council representation, by Kristina.

Today, after more than one year of active development, we are announcing that the nomination period of this governance epoch for both councils is already live.

Some important points to highlight:

  1. Both Thales Council and Oracle Council election will be done using your staked THALES as voting power.
  2. The voting power can be distributed among more than one candidate.
  3. First, there will be a nomination period where everyone is welcome to pitch in Thales Discord, from June 15th 4PM UTC, until June 22nd 4PM UTC. (Direct links to specific channels for nominations a few paragraphs below 👇)
  4. After that, the voting period will start on Thales’ governance page, from June 22nd 4PM UTC until June 30th 4PM UTC.
  5. The number of Thales Council members is 7, as a tribute to the “Seven sages of Greece” (Thales was one of the seven sages), and the Oracle Council is composed of 5 members.
  6. The governance epoch for the new Councils will be from July 2022 until the end of December 2022.

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 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 (for Thales Council) and for resolving disputes on the Exotic Markets platform (for Oracle Council).

So, where to nominate?

For Thales Council:

👉 Please post a message with your pitch on our dedicated Discord channel #thales-council-nominations.

For Oracle Council:

👉 Please post a message with your pitch on our dedicated Discord channel #oracle-council-nominations.

The nominating period has begun and new nominations are considered valid until Wednesday, 22 June 2022. The cut-off is until 4PM UTC.

Each Thales Council and Oracle 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:

After the nominations period ends, voters will have from Wednesday, June 22nd 2022 4PM UTC through Thursday, June 30th 2022 4PM UTC to cast votes and elect the new Thales Council and Oracle Council.

So, what to do now?

If you feel a need to answer this call and were looking for a way to start directly supporting and shaping the future of Thales protocol, then by all means nominate yourself here (for Thales Council) or here (for Oracle Council).

As a THALES staker you’ll probably want to start reading the nominees’ pitches here (for Thales Council) and here (for Oracle Council) in advance, so that when it’s time to vote you can have a more clear picture of which candidates to support.

And when the time comes, on June 22nd (lasting until June 30th), be sure to check Thales’ governance page and cast your vote!

THALES stakers, doing their part!

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Thales

Thales

Thales is an Ethereum protocol that allows the creation of novel on-chain, permissionless, and non-custodial Parimutuel Markets.