… And nao, the DAO!
Well hello furends! It’s time for updates, and some good news! 🙏😸
Things at Polycat have been absolutely manic: this week we welcome our newest PAWtners into the fold: PolyPup Finance, Hermes Defi and PolyNuts Farm! Always remember to DYOR before investing in any platform.
We love collaborating, so devs, don’t be shy — reach out to us via our Partnership or IFO Forms! 🐱🤝😺
Our Liquidity Incentives program has also kicked off with a blast, with some platforms making use of this fangtastic opportunity: we’ve received several applications and are going through them now. The incentives program is designed to give a helping paw to assist projects who are starting out. Liquidity Incentives FAQ.
If your project qualifies, please get in touch with us! A furend in need, is a furend indeed! 😻
Back here at the homestead, we’ve been super busy working on the interface to improve speed and UX. With the massive influx of new vaults, we realise that the site at times can start to sweat! 🙀💦
Wen RugDoc? Yas! You might’ve heard, that we’re teaming up with our good furends over at RugDoc to bring you the choicest, juiciest of farms with more peace of mind! We are absolutely thrilled with this special pawtnership, and things are progressing meowgnificently. We are going through the final iterations and testing; we’ll have more updates on that… SOON™. It will be in your paws… SOON™. SOON™. ⏳😼
That’s it for the quick updates… now let’s talk governance!
We’ve heard you, loud and clear furends! Governance is important, and you want to have your say via the blockchain. Fair enough.
Let’s get this DAO partay started then, shall we? 🗳🥳
In order to facilitate the proposal, voting and implementation stages, we have published the following guidelines (also can be found in our docs).
We use Snapshot for our governance process. Anyone with 10,000 FISH can submit a proposal, however only proposals that have followed the procedure below will be considered valid for implementation.
So please, pay attention! 🗳☝🐱
Submitting FISH Proposals
It is imperative at this stage that you communicate with Polycat, so we can ensure your proposal has the fairest outcome possible. Reason: unlike some other platforms, we want to account for not just FISH in your wallets, but FISH you’re staking on all the various sites!
In order to do this, we must update the Snapshot Strategy before your proposal is submitted, to qualify all the latest farms where users are staking FISH. This must be done in advance of your proposal, otherwise a portion of FISH holders will be unable to vote, and the outcome may not be fair.
To submit a proposal:
- You need to have 10,000 FISH to submit a proposal. This includes both FISH in wallet and FISH staked.
- Ownership will be verified and a channel will be created for your proposal, for you to discuss issues directly with the Polycat team.
- Discussion at this stage is critical to verify that the proposal is correctly scoped, technically feasible, snapshot details, et cetera.
- Work together with the Polycat team to draft the proposal content: including your proposal, and any relevant team comments. Further guidance on drafting proposals.
Of course, you can always submit a proposal without doing any of this, but keep in mind that it will be much less likely that the proposal will be approved.
During the Proposal
- Proposals will run for 10 days.
- We will publish upcoming and open proposals regularly to spread the word. We want FISH furends to be aware of, and to vote on, all the issues that impact them!
- As we have updated the Snapshot Strategy to account for LPs, FISH hodlers will not need to unstake in order to vote.
After the Proposal
- Implementation will occur as soon as feasible. Each proposal is unique, with differing timelines to design, implement, test and roll-out.
- Subsequent proposals impacting this proposal will not be allowed for 30 days.
We want the governance process to be as fluid and painless as possible: for the proponent, for the voters, and for ourselves. Hopefully with this set of guidance we can make proposals happen in a fair, collaborative, structured-but-flexible manner.
PAWsing for Gratitude 🙏
Welp, that’s it fur now, folks! The catnip is waiting, and I think I might have some FISH tonight! 🐾😻🐟
Thank you for your belief in Polycat — it means the world to us that you want to take part in creating something meowgnificent together! 🙏🐱
We can’t wait to give y’all more exciting news… SOON™!