A New Governing Epoch is Upon Us
Thales DAO’s journey is powered by the contributions of its vibrant community and the dedication of its governance. With Overtime Markets thriving, the time has come to usher in the next phase of decentralized decision-making.
Are you passionate about the growth and evolution of Thales? The nomination phase for the tenth governance epoch has officially begun. This is your chance to step up, get involved, and shape the direction of the protocol.
Here’s everything you need to know to make your voice heard.
Nomination and Election Details
Our community on Thales’ Discord is thriving in engaging governance discussions, featuring many passionate individuals eager to be part of Thales DAO’s decentralized governance.
It’s time to vote for those who will represent the community on protocol-level changes aka Thales Council.
You can check this to refresh your mind about how Thales governance structure works, 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 225 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 2024 until the end of April 2024, 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 Wednesday, December 11th, 2023 5PM UTC through Wednesday, 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 its products, then by all means nominate yourself here or invite someone to make the jump into 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!
